Keefe, Bruyette & Woods Lowers WSFS Financial (NASDAQ:WSFS) Price Target to $64.00

WSFS Financial (NASDAQ:WSFS) had its price target trimmed by Keefe, Bruyette & Woods from $66.00 to $64.00 in a research note released on Monday,Benzinga reports. They currently have a market perform rating on the bank’s stock.

Separately, Stephens restated an “overweight” rating and set a $64.00 target price on shares of WSFS Financial in a research note on Monday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, WSFS Financial currently has a consensus rating of “Hold” and an average target price of $62.75.

WSFS Financial Price Performance

WSFS opened at $52.25 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.83. The stock has a market capitalization of $3.03 billion, a P/E ratio of 11.82 and a beta of 0.90. The company’s 50-day simple moving average is $50.84 and its two-hundred day simple moving average is $53.64. WSFS Financial has a 52-week low of $42.21 and a 52-week high of $62.75.

WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. WSFS Financial had a net margin of 18.77% and a return on equity of 10.30%. The company had revenue of $256.11 million for the quarter, compared to the consensus estimate of $235.44 million. During the same quarter last year, the firm posted $1.11 earnings per share. The firm’s revenue was up 1.7% compared to the same quarter last year. As a group, analysts predict that WSFS Financial will post 4.47 EPS for the current year.

WSFS Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.30%. This is a boost from WSFS Financial’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, May 9th. WSFS Financial’s dividend payout ratio is currently 15.28%.

Insider Activity

In related news, CEO Rodger Levenson sold 7,199 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $55.20, for a total transaction of $397,384.80. Following the transaction, the chief executive officer now directly owns 142,780 shares in the company, valued at approximately $7,881,456. This represents a 4.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.29% of the company’s stock.

Hedge Funds Weigh In On WSFS Financial

Hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc grew its stake in WSFS Financial by 90.0% in the 1st quarter. Versant Capital Management Inc now owns 532 shares of the bank’s stock worth $28,000 after acquiring an additional 252 shares in the last quarter. Farther Finance Advisors LLC grew its stake in WSFS Financial by 2,500.0% during the 4th quarter. Farther Finance Advisors LLC now owns 572 shares of the bank’s stock worth $30,000 after buying an additional 550 shares during the last quarter. Crowley Wealth Management Inc. purchased a new stake in WSFS Financial during the 4th quarter valued at about $32,000. VSM Wealth Advisory LLC purchased a new stake in WSFS Financial during the 4th quarter valued at about $40,000. Finally, AlphaQuest LLC purchased a new stake in shares of WSFS Financial in the fourth quarter worth about $84,000. 88.49% of the stock is currently owned by institutional investors.

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.