Janney Montgomery Scott Reaffirms Neutral Rating for WSFS Financial (NASDAQ:WSFS)

Janney Montgomery Scott restated their neutral rating on shares of WSFS Financial (NASDAQ:WSFS - Free Report) in a research report report published on Monday morning, Marketbeat Ratings reports.

Several other research analysts have also recently weighed in on the stock. Stephens boosted their price objective on shares of WSFS Financial from $54.00 to $62.00 and gave the company an "overweight" rating in a report on Monday, July 29th. Piper Sandler upped their target price on shares of WSFS Financial from $48.00 to $55.00 and gave the company a "neutral" rating in a report on Tuesday, July 30th. DA Davidson upped their target price on shares of WSFS Financial from $59.00 to $68.00 and gave the company a "buy" rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods upped their target price on shares of WSFS Financial from $53.00 to $61.00 and gave the company a "market perform" rating in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $61.50.

WSFS Financial Stock Up 1.8 %

Shares of NASDAQ WSFS traded up $0.90 during midday trading on Monday, hitting $50.00. The stock had a trading volume of 276,937 shares, compared to its average volume of 271,135. The business's 50 day moving average is $51.40 and its 200-day moving average is $48.65. The company has a market cap of $2.96 billion, a P/E ratio of 11.42 and a beta of 1.01. WSFS Financial has a 52 week low of $34.08 and a 52 week high of $58.59. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its earnings results on Thursday, October 24th. The bank reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.02. WSFS Financial had a net margin of 18.78% and a return on equity of 10.56%. The firm had revenue of $267.61 million for the quarter, compared to the consensus estimate of $260.35 million. During the same quarter in the prior year, the firm posted $1.23 earnings per share. The business's revenue was up .6% on a year-over-year basis. As a group, analysts predict that WSFS Financial will post 4.32 EPS for the current year.

WSFS Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a $0.15 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.20%. WSFS Financial's dividend payout ratio (DPR) is presently 13.70%.

Insider Transactions at WSFS Financial

In other news, EVP Stephen P. Clark sold 12,663 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $56.52, for a total value of $715,712.76. Following the completion of the sale, the executive vice president now directly owns 25,671 shares of the company's stock, valued at $1,450,924.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.21% of the company's stock.

Institutional Trading of WSFS Financial

A number of hedge funds and other institutional investors have recently modified their holdings of WSFS. Fidelis Capital Partners LLC bought a new position in shares of WSFS Financial during the first quarter worth $45,000. International Assets Investment Management LLC boosted its position in shares of WSFS Financial by 5,000.0% during the third quarter. International Assets Investment Management LLC now owns 918 shares of the bank's stock worth $47,000 after acquiring an additional 900 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of WSFS Financial by 40.5% during the second quarter. GAMMA Investing LLC now owns 1,023 shares of the bank's stock worth $48,000 after acquiring an additional 295 shares during the last quarter. Innealta Capital LLC bought a new position in shares of WSFS Financial during the second quarter worth $114,000. Finally, SG Americas Securities LLC bought a new position in shares of WSFS Financial during the third quarter worth $127,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

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.