WSFS Financial (NASDAQ:WSFS) Hits New 52-Week High - Time to Buy?

WSFS Financial Co. (NASDAQ:WSFS - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $59.87 and last traded at $59.87, with a volume of 12721 shares trading hands. The stock had previously closed at $58.46.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Stephens upped their target price on WSFS Financial from $54.00 to $62.00 and gave the company an "overweight" rating in a research note on Monday, July 29th. DA Davidson upped their target price on WSFS Financial from $59.00 to $68.00 and gave the company a "buy" rating in a research note on Monday, July 29th. Janney Montgomery Scott restated a "neutral" rating on shares of WSFS Financial in a research note on Monday, October 28th. Piper Sandler upped their price target on WSFS Financial from $48.00 to $55.00 and gave the company a "neutral" rating in a research report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $54.00 price target (down from $58.00) on shares of WSFS Financial in a research report on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $59.75.

WSFS Financial Stock Up 0.1 %

The business has a 50-day simple moving average of $51.45 and a two-hundred day simple moving average of $49.48. 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 stock has a market capitalization of $3.45 billion, a P/E ratio of 13.37 and a beta of 1.02.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last announced its earnings results on Thursday, October 24th. The bank reported $1.08 EPS for the quarter, topping the consensus estimate of $1.06 by $0.02. The company had revenue of $267.61 million for the quarter, compared to analysts' expectations of $260.35 million. WSFS Financial had a return on equity of 10.56% and a net margin of 18.78%. The business's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 earnings per share. Equities research analysts forecast that WSFS Financial Co. will post 4.27 earnings per share for the current fiscal year.

WSFS Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Friday, November 8th. WSFS Financial's payout ratio is presently 13.70%.

Institutional Trading of WSFS Financial

Several large investors have recently made changes to their positions in WSFS. Jupiter Asset Management Ltd. acquired a new position in shares of WSFS Financial during the first quarter valued at $1,253,000. Wedge Capital Management L L P NC lifted its stake in shares of WSFS Financial by 29.2% during the second quarter. Wedge Capital Management L L P NC now owns 82,371 shares of the bank's stock valued at $3,871,000 after acquiring an additional 18,636 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of WSFS Financial by 51.4% during the first quarter. BNP Paribas Financial Markets now owns 30,156 shares of the bank's stock valued at $1,361,000 after acquiring an additional 10,234 shares during the period. Vanguard Group Inc. lifted its stake in shares of WSFS Financial by 5.3% during the first quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank's stock valued at $331,246,000 after acquiring an additional 372,402 shares during the period. Finally, Texas Permanent School Fund Corp lifted its stake in shares of WSFS Financial by 1.0% during the first quarter. Texas Permanent School Fund Corp now owns 52,982 shares of the bank's stock valued at $2,392,000 after acquiring an additional 518 shares during the period. 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.