Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for WSFS Financial (NASDAQ:WSFS) Stock

WSFS Financial (NASDAQ:WSFS) had its target price hoisted by Keefe, Bruyette & Woods from $64.00 to $68.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a market perform rating on the bank’s stock.

Other equities research analysts have also recently issued research reports about the company. Janney Montgomery Scott reissued a “neutral” rating on shares of WSFS Financial in a research note on Monday, October 28th. Stephens reissued an “overweight” rating and issued a $68.00 price target on shares of WSFS Financial in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, WSFS Financial presently has a consensus rating of “Hold” and a consensus target price of $64.75.

WSFS Financial Stock Up 2.3 %

WSFS Financial stock opened at $58.54 on Monday. The company has a market capitalization of $3.45 billion, a PE ratio of 13.24 and a beta of 1.08. WSFS Financial has a 12-month low of $40.19 and a 12-month high of $62.75. The firm’s fifty day moving average is $55.30 and its 200 day moving average is $53.70. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.15.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings data on Monday, January 27th. The bank reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.13. WSFS Financial had a net margin of 18.77% and a return on equity of 10.30%. As a group, sell-side analysts predict that WSFS Financial will post 4.4 EPS for the current fiscal year.

WSFS Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Friday, February 7th. WSFS Financial’s dividend payout ratio (DPR) is presently 13.57%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Algert Global LLC bought a new position in WSFS Financial during the 2nd quarter valued at $285,000. Sanctuary Advisors LLC purchased a new stake in shares of WSFS Financial in the second quarter valued at about $275,000. SG Americas Securities LLC bought a new position in shares of WSFS Financial during the third quarter valued at about $127,000. Handelsbanken Fonder AB boosted its holdings in WSFS Financial by 9.8% during the third quarter. Handelsbanken Fonder AB now owns 12,305 shares of the bank’s stock worth $627,000 after purchasing an additional 1,100 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in WSFS Financial by 41.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,451 shares of the bank’s stock worth $74,000 after purchasing an additional 428 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

About WSFS Financial

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.