WSFS Financial (NASDAQ:WSFS) Shares Up 13.6% – Should You Buy?

WSFS Financial Co. (NASDAQ:WSFS)’s stock price traded up 13.6% on Wednesday . The stock traded as high as $57.80 and last traded at $57.37. 44,501 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 268,219 shares. The stock had previously closed at $50.50.

Wall Street Analyst Weigh In

Several brokerages have commented on WSFS. 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. Stephens increased 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. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $54.00 target price (down previously from $58.00) on shares of WSFS Financial in a research note on Tuesday, October 29th. Piper Sandler raised their price objective on WSFS Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Janney Montgomery Scott restated a “neutral” rating on shares of WSFS Financial in a research report on Monday, October 28th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $59.75.

WSFS Financial Price Performance

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 $3.48 billion, a price-to-earnings ratio of 13.40 and a beta of 1.02. The company has a fifty day simple moving average of $51.03 and a 200 day simple moving average of $48.96.

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 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 net margin of 18.78% and a return on equity of 10.56%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.23 EPS. Equities research analysts forecast that WSFS Financial Co. will post 4.27 EPS for the current fiscal year.

WSFS Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.15 per share. 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 1.02%. WSFS Financial’s dividend payout ratio (DPR) is currently 13.70%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Fidelis Capital Partners LLC bought a new stake in WSFS Financial in the first quarter worth approximately $45,000. International Assets Investment Management LLC lifted its position in shares of WSFS Financial by 5,000.0% during the 3rd 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 during the period. GAMMA Investing LLC grew its holdings in WSFS Financial by 40.5% in the second quarter. GAMMA Investing LLC now owns 1,023 shares of the bank’s stock worth $48,000 after purchasing an additional 295 shares during the period. Innealta Capital LLC bought a new stake in WSFS Financial in the second quarter valued at $114,000. Finally, SG Americas Securities LLC bought a new position in shares of WSFS Financial during the 3rd quarter worth about $127,000. 88.49% of the stock is owned by institutional investors and hedge funds.

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.