Keefe, Bruyette & Woods Reiterates “Market Perform” Rating for WSFS Financial (NASDAQ:WSFS)

Keefe, Bruyette & Woods reiterated their market perform rating on shares of WSFS Financial (NASDAQ:WSFS) in a research note issued to investors on Tuesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $54.00 price objective on the bank’s stock, down from their previous price objective of $58.00.

WSFS has been the topic of a number of other reports. Stephens lifted 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. Piper Sandler upped their target price 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 reiterated a “neutral” rating on shares of WSFS Financial in a research note on Monday, October 28th. Finally, DA Davidson lifted their price target 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, WSFS Financial currently has an average rating of “Hold” and a consensus target price of $59.75.

WSFS Financial Stock Up 1.0 %

NASDAQ WSFS opened at $49.64 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40. WSFS Financial has a fifty-two week low of $35.09 and a fifty-two week high of $58.59. The business has a 50 day moving average price of $51.30 and a two-hundred day moving average price of $48.71. The stock has a market cap of $2.94 billion, a PE ratio of 11.33 and a beta of 1.01.

WSFS Financial (NASDAQ:WSFS) last announced 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. WSFS Financial had a net margin of 18.78% and a return on equity of 10.56%. The business had revenue of $267.61 million during the quarter, compared to the consensus estimate of $260.35 million. During the same period in the prior year, the firm earned $1.23 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts predict that WSFS Financial will post 4.27 EPS for the current fiscal year.

WSFS Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Friday, November 8th. WSFS Financial’s dividend payout ratio is presently 13.70%.

Institutional Investors Weigh In On WSFS Financial

Institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in WSFS Financial by 5,000.0% in the third quarter. International Assets Investment Management LLC now owns 918 shares of the bank’s stock worth $47,000 after purchasing an additional 900 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of WSFS Financial in the 1st quarter worth about $45,000. GAMMA Investing LLC boosted its holdings in shares of WSFS Financial by 40.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,023 shares of the bank’s stock valued at $48,000 after buying an additional 295 shares during the period. Innealta Capital LLC bought a new stake in shares of WSFS Financial during the 2nd quarter valued at about $114,000. Finally, SG Americas Securities LLC acquired a new stake in WSFS Financial during the third quarter worth about $127,000. 88.49% of the stock is owned by institutional investors and hedge funds.

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.