WSFS Financial (NASDAQ:WSFS) Receives Market Perform Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their market perform rating on shares of WSFS Financial (NASDAQ:WSFS - Free Report) in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a $54.00 target price on the bank's stock, down from their prior target price of $58.00.

Other analysts have also issued research reports about the company. Stephens raised their target price on WSFS Financial from $54.00 to $62.00 and gave the company an "overweight" rating in a report on Monday, July 29th. Janney Montgomery Scott reaffirmed a "neutral" rating on shares of WSFS Financial in a report on Monday. DA Davidson raised their target price on WSFS Financial from $59.00 to $68.00 and gave the company a "buy" rating in a report on Monday, July 29th. Finally, Piper Sandler raised their target price on WSFS Financial from $48.00 to $55.00 and gave the company a "neutral" rating in a report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $59.75.

WSFS Financial Stock Down 0.3 %

Shares of WSFS traded down $0.15 during midday trading on Tuesday, reaching $49.85. 200,967 shares of the stock were exchanged, compared to its average volume of 270,799. WSFS Financial has a 12-month low of $34.08 and a 12-month high of $58.59. The firm has a 50 day simple moving average of $51.40 and a 200-day simple moving average of $48.65. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 11.38 and a beta of 1.01.

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

WSFS Financial Announces Dividend

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

Institutional Investors Weigh In On WSFS Financial

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

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.