WSFS Financial (NASDAQ:WSFS) Reaches New 52-Week High – Here’s What Happened

WSFS Financial Co. (NASDAQ:WSFS)’s share price hit 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.

Analyst Upgrades and Downgrades

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

WSFS Financial Trading Up 2.1 %

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 stock has a market capitalization of $3.52 billion, a PE ratio of 13.35 and a beta of 1.02. The stock has a 50-day moving average price of $51.34 and a two-hundred day moving average price of $49.42.

WSFS Financial (NASDAQ:WSFS) last released its earnings results on Thursday, October 24th. The bank reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.02. The firm had revenue of $267.61 million for 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%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 EPS. As a group, equities analysts forecast that WSFS Financial Co. will post 4.27 earnings per share for the current year.

WSFS Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Friday, November 8th. WSFS Financial’s dividend payout ratio is currently 13.70%.

Hedge Funds Weigh In On WSFS Financial

Several hedge funds have recently bought and sold shares of WSFS. Vanguard Group Inc. lifted its holdings 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 worth $331,246,000 after buying an additional 372,402 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of WSFS Financial by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,903,255 shares of the bank’s stock worth $183,450,000 after buying an additional 110,279 shares during the period. Champlain Investment Partners LLC lifted its stake in shares of WSFS Financial by 1.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,299,998 shares of the bank’s stock worth $66,287,000 after purchasing an additional 14,792 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of WSFS Financial by 27.9% during the 2nd quarter. American Century Companies Inc. now owns 877,467 shares of the bank’s stock worth $41,241,000 after purchasing an additional 191,566 shares during the last quarter. Finally, abrdn plc lifted its stake in shares of WSFS Financial by 1.0% during the 3rd quarter. abrdn plc now owns 620,808 shares of the bank’s stock worth $31,655,000 after purchasing an additional 6,380 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

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.