WSFS Financial (NASDAQ:WSFS) Sets New 1-Year High – Still a Buy?

WSFS Financial Co. (NASDAQ:WSFS)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $59.87 and last traded at $59.87, with a volume of 12721 shares changing hands. The stock had previously closed at $58.46.

Analysts Set New Price Targets

Several equities analysts have commented on WSFS shares. Janney Montgomery Scott reissued a “neutral” rating on shares of WSFS Financial in a research note on Monday, October 28th. 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. Stephens raised their price objective on shares of WSFS Financial from $54.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. DA Davidson lifted their price target on shares of WSFS Financial from $59.00 to $68.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $54.00 price target (down previously from $58.00) on shares of WSFS Financial in a research report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, WSFS Financial presently has a consensus rating of “Hold” and an average price target of $59.75.

WSFS Financial Price Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $51.55 and its two-hundred day simple moving average is $49.54. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 13.13 and a beta of 1.02.

WSFS Financial (NASDAQ:WSFS) last issued its earnings results on Thursday, October 24th. The bank reported $1.08 EPS for the quarter, beating 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 company had revenue of $267.61 million for the quarter, compared to the consensus estimate of $260.35 million. During the same quarter in the previous year, the company earned $1.23 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, analysts forecast that WSFS Financial Co. will post 4.27 earnings per share for the current fiscal year.

WSFS Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.60 annualized dividend and a yield of 1.04%. WSFS Financial’s dividend payout ratio is currently 13.70%.

Institutional Trading of WSFS Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of WSFS Financial by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock valued at $331,246,000 after purchasing an additional 372,402 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of WSFS Financial by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,903,255 shares of the bank’s stock worth $183,450,000 after purchasing an additional 110,279 shares in the last quarter. Champlain Investment Partners LLC raised its stake in WSFS Financial by 1.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,299,998 shares of the bank’s stock valued at $66,287,000 after acquiring an additional 14,792 shares during the period. American Century Companies Inc. raised its stake in WSFS Financial by 27.9% in the 2nd quarter. American Century Companies Inc. now owns 877,467 shares of the bank’s stock valued at $41,241,000 after acquiring an additional 191,566 shares during the period. Finally, abrdn plc raised its stake in WSFS Financial by 1.0% in the 3rd quarter. abrdn plc now owns 620,808 shares of the bank’s stock valued at $31,655,000 after acquiring an additional 6,380 shares during the period. 88.49% of the stock is owned by 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.