Piper Sandler Boosts WSFS Financial (NASDAQ:WSFS) Price Target to $48.00

WSFS Financial (NASDAQ:WSFS) had its target price hoisted by Piper Sandler from $45.00 to $48.00 in a report released on Wednesday, Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

WSFS Financial Trading Up 0.4 %

NASDAQ:WSFS opened at $43.97 on Wednesday. The stock’s 50 day moving average price is $44.21 and its 200 day moving average price is $43.24. WSFS Financial has a 52 week low of $32.76 and a 52 week high of $47.97. The company has a market capitalization of $2.64 billion, a P/E ratio of 9.81 and a beta of 1.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.85 and a current ratio of 0.86.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Thursday, April 25th. The bank reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.04. The firm had revenue of $251.10 million for the quarter, compared to the consensus estimate of $247.57 million. WSFS Financial had a return on equity of 11.94% and a net margin of 20.73%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.02 earnings per share. On average, research analysts forecast that WSFS Financial will post 4.27 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, May 9th. This represents a $0.60 annualized dividend and a yield of 1.36%. WSFS Financial’s dividend payout ratio (DPR) is presently 13.39%.

Insider Buying and Selling at WSFS Financial

In other WSFS Financial news, EVP Stephen P. Clark sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $46.61, for a total transaction of $139,830.00. Following the transaction, the executive vice president now owns 25,671 shares in the company, valued at $1,196,525.31. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.29% of the company’s stock.

Institutional Investors Weigh In On WSFS Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of WSFS Financial by 5.3% in the first quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock worth $331,246,000 after acquiring an additional 372,402 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of WSFS Financial by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,757,216 shares of the bank’s stock worth $172,572,000 after acquiring an additional 77,589 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of WSFS Financial by 8.8% in the fourth quarter. Franklin Resources Inc. now owns 2,886,034 shares of the bank’s stock worth $132,556,000 after acquiring an additional 232,508 shares during the last quarter. Champlain Investment Partners LLC grew its stake in shares of WSFS Financial by 14.1% in the first quarter. Champlain Investment Partners LLC now owns 1,293,281 shares of the bank’s stock worth $58,379,000 after acquiring an additional 160,090 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of WSFS Financial in the fourth quarter worth $31,369,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

WSFS Financial Company Profile

WSFS Financial Corporation operates as the savings and loan holding company for the Wilmington Savings Fund Society, FSB that provides various banking services in the United States. It operates through three segments: WSFS Bank, Cash Connect, and Wealth Management. It offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as accepts jumbo certificates of deposit from individuals, businesses, and municipalities.