WSFS Financial (NASDAQ:WSFS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday, Zacks.com reports. The brokerage presently has a $59.00 target price on the bank’s stock. Zacks Investment Research‘s price target suggests a potential upside of 6.77% from the stock’s previous close.
According to Zacks, “WSFS Financial Corporation is a thrift holding company. WSFS provides residential and commercial real estate, commercial and consumer lending services, as well as cash management services funding these activities primarily with retail deposits and borrowings. “
A number of other equities analysts have also recently commented on the stock. DA Davidson lifted their target price on shares of WSFS Financial from $48.00 to $54.00 and gave the company a “neutral” rating in a report on Monday, October 25th. Keefe, Bruyette & Woods cut shares of WSFS Financial from an “outperform” rating to a “market perform” rating and set a $56.00 price target on the stock. in a research note on Sunday, October 24th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $55.40.
Shares of WSFS Financial stock opened at $55.26 on Friday. WSFS Financial has a 52-week low of $40.64 and a 52-week high of $56.08. The company has a 50 day moving average of $51.94 and a 200 day moving average of $48.81. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $2.63 billion, a P/E ratio of 9.68 and a beta of 1.15.
WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings results on Wednesday, October 20th. The bank reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.31. WSFS Financial had a net margin of 41.60% and a return on equity of 15.04%. The company had revenue of $147.10 million during the quarter, compared to the consensus estimate of $154.39 million. During the same quarter in the previous year, the firm earned $1.00 earnings per share. As a group, research analysts anticipate that WSFS Financial will post 5.08 earnings per share for the current fiscal year.
In other news, EVP Peggy H. Eddens sold 1,552 shares of the stock in a transaction that occurred on Monday, December 13th. The stock was sold at an average price of $49.19, for a total transaction of $76,342.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard Wright sold 10,362 shares of the firm’s stock in a transaction on Monday, October 25th. The stock was sold at an average price of $53.26, for a total value of $551,880.12. The disclosure for this sale can be found here. Insiders sold a total of 13,647 shares of company stock worth $721,216 over the last quarter. Insiders own 1.98% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of WSFS. UBS Asset Management Americas Inc. boosted its position in WSFS Financial by 22.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 66,342 shares of the bank’s stock worth $3,091,000 after acquiring an additional 12,314 shares during the period. State of Alaska Department of Revenue raised its stake in shares of WSFS Financial by 5.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 34,676 shares of the bank’s stock valued at $1,779,000 after acquiring an additional 1,786 shares in the last quarter. Principal Financial Group Inc. increased its position in WSFS Financial by 26.0% in the 2nd quarter. Principal Financial Group Inc. now owns 474,421 shares of the bank’s stock worth $22,103,000 after buying an additional 98,018 shares during the period. Rothschild & Co. Asset Management US Inc. increased its position in WSFS Financial by 18.4% in the 3rd quarter. Rothschild & Co. Asset Management US Inc. now owns 58,054 shares of the bank’s stock worth $2,979,000 after buying an additional 9,027 shares during the period. Finally, Trexquant Investment LP bought a new position in WSFS Financial in the 2nd quarter worth approximately $233,000. 88.40% of the stock is currently owned by institutional investors.
WSFS Financial Company Profile
WSFS Financial Corp. is a savings and loan holding company, which engages in the provision of banking and financial services. It operates through the following business segments: WSFS Bank, Cash Connect, and Wealth Management. The WSFS Bank segment provides loans and other financial products to commercial and retail customers.
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