Janney Montgomery Scott Reaffirms Neutral Rating for WSFS Financial (NASDAQ:WSFS)

Janney Montgomery Scott reiterated their neutral rating on shares of WSFS Financial (NASDAQ:WSFS) in a report issued on Monday, Marketbeat.com reports.

A number of other equities research analysts also recently weighed in on the company. Keefe, Bruyette & Woods raised their target price on WSFS Financial from $53.00 to $61.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Stephens raised their price objective 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 boosted their target price on WSFS Financial from $59.00 to $68.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Piper Sandler raised their price target on shares of WSFS Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $59.75.

WSFS Financial Price Performance

Shares of NASDAQ WSFS opened at $49.17 on Monday. The business has a fifty day moving average price of $51.35 and a two-hundred day moving average price of $48.71. The stock has a market capitalization of $2.91 billion, a PE ratio of 11.23 and a beta of 1.01. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. WSFS Financial has a fifty-two week low of $34.54 and a fifty-two week high of $58.59.

WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. The business had revenue of $267.61 million during the quarter, compared to the consensus estimate of $260.35 million. WSFS Financial had a return on equity of 10.56% and a net margin of 18.78%. WSFS Financial’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.23 earnings per share. As a group, equities analysts predict that WSFS Financial will post 4.32 earnings per share for the current fiscal year.

WSFS Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders 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 yield of 1.22%. WSFS Financial’s payout ratio is presently 13.70%.

Institutional Trading of WSFS Financial

A number of hedge funds have recently made changes to their positions in WSFS. Jupiter Asset Management Ltd. bought a new position in WSFS Financial in the 1st quarter valued at approximately $1,253,000. Wedge Capital Management L L P NC raised 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 last quarter. BNP Paribas Financial Markets raised 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 last quarter. Vanguard Group Inc. lifted its holdings 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 worth $331,246,000 after purchasing an additional 372,402 shares during the period. Finally, Texas Permanent School Fund Corp grew its stake in shares of WSFS Financial by 1.0% in the first quarter. Texas Permanent School Fund Corp now owns 52,982 shares of the bank’s stock worth $2,392,000 after purchasing an additional 518 shares during the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

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.