WSFS Financial (NASDAQ:WSFS) Hits New 12-Month High – Should You Buy?

Shares of WSFS Financial Co. (NASDAQ:WSFS) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $59.87 and last traded at $59.87, with a volume of 12721 shares trading hands. The stock had previously closed at $58.46.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Stephens lifted their price target on shares of WSFS Financial from $54.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Janney Montgomery Scott reiterated a “neutral” rating on shares of WSFS Financial in a research report on Monday, October 28th. DA Davidson boosted their target price 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. Piper Sandler upped their price objective 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. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $54.00 target price (down from $58.00) on shares of WSFS Financial in a report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $59.75.

WSFS Financial Stock Performance

The stock’s fifty day simple moving average is $51.55 and its 200-day simple moving average is $49.54. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 13.13 and a beta of 1.02.

WSFS Financial (NASDAQ:WSFS) last posted its 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. 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 for the quarter, compared to the consensus estimate of $260.35 million. During the same period last year, the firm posted $1.23 EPS. The company’s revenue was up .6% on a year-over-year basis. Analysts predict that WSFS Financial Co. will post 4.27 EPS for the current year.

WSFS Financial Announces Dividend

The firm also recently disclosed 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. This represents a $0.60 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Friday, November 8th. WSFS Financial’s payout ratio is currently 13.70%.

Institutional Trading of WSFS Financial

Several hedge funds have recently made changes to their positions in the company. Louisiana State Employees Retirement System lifted its stake in shares of WSFS Financial by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the bank’s stock valued at $1,419,000 after purchasing an additional 200 shares during the period. Diversified Trust Co grew its holdings in shares of WSFS Financial by 2.0% during the second quarter. Diversified Trust Co now owns 11,382 shares of the bank’s stock worth $535,000 after buying an additional 225 shares in the last quarter. FMR LLC grew its holdings in shares of WSFS Financial by 5.9% during the third quarter. FMR LLC now owns 4,283 shares of the bank’s stock worth $218,000 after buying an additional 239 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of WSFS Financial by 40.5% during the second quarter. GAMMA Investing LLC now owns 1,023 shares of the bank’s stock worth $48,000 after buying an additional 295 shares in the last quarter. Finally, Profund Advisors LLC increased its position in WSFS Financial by 9.4% during the second quarter. Profund Advisors LLC now owns 5,273 shares of the bank’s stock worth $248,000 after purchasing an additional 452 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

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.