WSFS Financial (NASDAQ:WSFS) Reaches New 12-Month High - Here's Why

WSFS Financial Co. (NASDAQ:WSFS - Get Free Report)'s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $60.59 and last traded at $60.48, with a volume of 254881 shares trading hands. The stock had previously closed at $58.71.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WSFS. Stephens upped their price target on WSFS Financial from $54.00 to $62.00 and gave the stock an "overweight" rating in a report on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $54.00 price target (down previously from $58.00) on shares of WSFS Financial in a research note on Tuesday, October 29th. Janney Montgomery Scott reissued a "neutral" rating on shares of WSFS Financial in a research report on Monday, October 28th. DA Davidson lifted their price objective on WSFS Financial from $59.00 to $68.00 and gave the stock a "buy" rating in a report on Monday, July 29th. Finally, Piper Sandler increased their price target on shares of WSFS Financial from $48.00 to $55.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, WSFS Financial presently has an average rating of "Hold" and a consensus price target of $59.75.

WSFS Financial Stock Up 3.0 %

The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 13.71 and a beta of 1.02. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average of $52.25 and a 200-day moving average of $50.02.

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 during the quarter, compared to analysts' expectations of $260.35 million. WSFS Financial had a net margin of 18.78% and a return on equity of 10.56%. The business's revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the company posted $1.23 earnings per share. As a group, sell-side analysts expect that WSFS Financial Co. will post 4.27 EPS for the current 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 $0.15 dividend. 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 0.99%. WSFS Financial's payout ratio is currently 13.70%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WSFS. Wedge Capital Management L L P NC boosted its position in 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 purchasing an additional 18,636 shares during the last quarter. Mill Creek Capital Advisors LLC bought a new stake in shares of WSFS Financial during the 3rd quarter worth about $718,000. Vanguard Group Inc. increased its holdings in shares of WSFS Financial by 5.3% during the 1st 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 last quarter. Squarepoint Ops LLC lifted its holdings in WSFS Financial by 265.1% in the 2nd quarter. Squarepoint Ops LLC now owns 23,763 shares of the bank's stock worth $1,117,000 after purchasing an additional 17,254 shares during the last quarter. Finally, Sei Investments Co. boosted its position in WSFS Financial by 34.1% during the second quarter. Sei Investments Co. now owns 48,343 shares of the bank's stock worth $2,272,000 after purchasing an additional 12,298 shares during the period. 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.

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