Keefe, Bruyette & Woods Increases WSFS Financial (NASDAQ:WSFS) Price Target to $61.00

WSFS Financial (NASDAQ:WSFS) had its price objective hoisted by analysts at Keefe, Bruyette & Woods from $53.00 to $61.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 6.27% from the stock’s current price.

Several other brokerages also recently weighed in on WSFS. Piper Sandler raised their price target on WSFS Financial from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, May 22nd. DA Davidson raised their price target on WSFS Financial from $59.00 to $68.00 and gave the company a “buy” rating in a report on Monday. Finally, Stephens lifted their price objective on WSFS Financial from $54.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $59.75.

WSFS Financial Stock Up 0.9 %

WSFS traded up $0.54 during trading on Monday, reaching $57.40. The stock had a trading volume of 132,584 shares, compared to its average volume of 274,352. The stock’s 50 day moving average is $47.03 and its two-hundred day moving average is $44.91. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 12.81 and a beta of 1.02. WSFS Financial has a one year low of $33.12 and a one year high of $58.59.

WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.04. WSFS Financial had a return on equity of 11.47% and a net margin of 20.04%. The firm had revenue of $266.00 million during the quarter, compared to the consensus estimate of $254.48 million. During the same period last year, the company earned $1.16 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. As a group, analysts expect that WSFS Financial will post 4.25 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Stephen P. Clark sold 3,000 shares of WSFS Financial stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $46.61, for a total value of $139,830.00. Following the completion of the sale, the executive vice president now directly owns 25,671 shares in the company, valued at approximately $1,196,525.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.29% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WSFS. Raymond James & Associates boosted its position in WSFS Financial by 9.2% in the fourth quarter. Raymond James & Associates now owns 104,803 shares of the bank’s stock worth $4,814,000 after purchasing an additional 8,796 shares during the last quarter. International Assets Investment Management LLC boosted its position in WSFS Financial by 1,032.9% in the fourth quarter. International Assets Investment Management LLC now owns 827 shares of the bank’s stock worth $38,000 after purchasing an additional 754 shares during the last quarter. New York State Teachers Retirement System boosted its position in WSFS Financial by 5.5% in the fourth quarter. New York State Teachers Retirement System now owns 28,115 shares of the bank’s stock worth $1,291,000 after purchasing an additional 1,475 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of WSFS Financial by 2.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,880 shares of the bank’s stock valued at $1,281,000 after buying an additional 538 shares in the last quarter. Finally, Wakefield Asset Management LLLP purchased a new position in shares of WSFS Financial during the 4th quarter valued at about $939,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

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.