WSFS Financial (NASDAQ:WSFS) Hits New 52-Week High – Still a Buy?
by Amy Steele · The Cerbat GemWSFS Financial Corporation (NASDAQ:WSFS – Get Free Report) shares reached a new 52-week high on Thursday . The company traded as high as $59.69 and last traded at $59.18, with a volume of 920 shares trading hands. The stock had previously closed at $56.27.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on WSFS shares. DA Davidson lowered WSFS Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of WSFS Financial in a report on Wednesday, October 8th. Piper Sandler set a $62.00 price target on WSFS Financial and gave the stock a “neutral” rating in a report on Wednesday, December 17th. Finally, TD Cowen reissued a “buy” rating on shares of WSFS Financial in a research note on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.40.
View Our Latest Research Report on WSFS
WSFS Financial Trading Up 0.9%
The firm has a market capitalization of $3.27 billion, a P/E ratio of 12.32 and a beta of 0.80. The business’s 50 day moving average is $56.21 and its two-hundred day moving average is $55.66. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.09.
WSFS Financial (NASDAQ:WSFS – Get Free Report) last issued its quarterly earnings results on Thursday, October 23rd. The bank reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.13. WSFS Financial had a return on equity of 10.60% and a net margin of 20.44%.The firm had revenue of $271.98 million during the quarter, compared to analyst estimates of $269.04 million. During the same period last year, the company posted $1.08 EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. Analysts expect that WSFS Financial Corporation will post 4.47 EPS for the current year.
Institutional Investors Weigh In On WSFS Financial
A number of institutional investors and hedge funds have recently bought and sold shares of WSFS. Boston Partners boosted its position in shares of WSFS Financial by 2.0% in the 2nd quarter. Boston Partners now owns 350,327 shares of the bank’s stock valued at $19,240,000 after purchasing an additional 6,755 shares during the period. Strid Group LLC acquired a new stake in WSFS Financial during the 2nd quarter worth about $281,000. Wealth Enhancement Advisory Services LLC acquired a new stake in WSFS Financial during the 2nd quarter worth about $227,000. Planning Directions Inc. purchased a new stake in WSFS Financial during the second quarter valued at about $339,000. Finally, Norges Bank acquired a new position in shares of WSFS Financial in the second quarter worth about $36,860,000. 88.49% of the stock is owned by institutional investors and hedge funds.
WSFS Financial Company Profile
WSFS Financial Corporation is the bank holding company for WSFS Bank, a regional financial institution headquartered in Wilmington, Delaware. The company traces its roots to the Safe Deposit & Trust Company, founded in 1832, and formally organized as WSFS Financial in the mid-1980s. Over its long history, WSFS has grown through a combination of organic expansion and selective acquisitions to serve a broad base of individual, commercial and institutional clients.
WSFS Bank offers a full suite of banking and financial services, including retail and commercial deposit accounts, commercial and industrial lending, real estate financing, and treasury management solutions.