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) in a report published on Tuesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $54.00 target price on the bank’s stock, down from their prior target price of $58.00.

A number of other research analysts have also weighed in on WSFS. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of WSFS Financial in a report on Monday. DA Davidson upped their price target on shares of WSFS Financial from $59.00 to $68.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. 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 note on Monday, July 29th. Finally, Piper Sandler upped their target price 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 stock. According to data from MarketBeat, WSFS Financial currently has a consensus rating of “Hold” and an average target price of $59.75.

WSFS Financial Stock Down 0.3 %

Shares of WSFS Financial stock opened at $49.85 on Tuesday. WSFS Financial has a one year low of $34.08 and a one year high of $58.59. The company has a market cap of $2.95 billion, a P/E ratio of 11.38 and a beta of 1.01. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a fifty day moving average of $51.40 and a two-hundred day moving average of $48.65.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $1.08 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $260.35 million. During the same quarter last year, the firm earned $1.23 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. On average, analysts forecast that WSFS Financial will post 4.32 earnings per share for the current year.

WSFS Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a $0.15 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.60 annualized dividend and a dividend yield of 1.20%. WSFS Financial’s dividend payout ratio is presently 13.70%.

Hedge Funds Weigh In On WSFS Financial

Several hedge funds have recently added to or reduced their stakes in the business. Lansing Street Advisors acquired a new stake in shares of WSFS Financial in the third quarter valued at approximately $207,000. Stephens Inc. AR acquired a new stake in WSFS Financial during the 3rd quarter valued at $209,000. abrdn plc increased its position in WSFS Financial by 1.0% during the third quarter. abrdn plc now owns 620,808 shares of the bank’s stock worth $31,655,000 after buying an additional 6,380 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of WSFS Financial in the third quarter worth $1,412,000. Finally, International Assets Investment Management LLC lifted its position in shares of 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 in the last quarter. 88.49% of the stock is currently 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.