StockNews.com Begins Coverage on WSFS Financial (NASDAQ:WSFS)

Stock analysts at StockNews.com assumed coverage on shares of WSFS Financial (NASDAQ:WSFS – Get Rating) in a research report issued on Thursday. The brokerage set a “hold” rating on the bank’s stock.

A number of other analysts have also commented on the company. Janney Montgomery Scott assumed coverage on WSFS Financial in a research report on Wednesday, November 30th. They issued a “buy” rating and a $57.00 target price for the company. Piper Sandler lowered WSFS Financial from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $53.00 to $52.00 in a research report on Wednesday, February 1st. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, WSFS Financial currently has an average rating of “Hold” and a consensus target price of $53.25.

WSFS Financial Stock Performance

WSFS stock opened at $39.49 on Thursday. WSFS Financial has a 1-year low of $37.03 and a 1-year high of $51.82. The firm has a market cap of $2.43 billion, a PE ratio of 11.19 and a beta of 1.00. The stock has a 50-day moving average price of $47.91 and a 200-day moving average price of $47.57. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.33.

WSFS Financial (NASDAQ:WSFS – Get Rating) last issued its earnings results on Friday, January 27th. The bank reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.01. WSFS Financial had a return on equity of 11.89% and a net margin of 23.07%. The business had revenue of $193.90 million during the quarter, compared to analyst estimates of $203.06 million. During the same period in the previous year, the company posted $1.04 EPS. The firm’s revenue was up 79.2% compared to the same quarter last year. As a group, equities research analysts expect that WSFS Financial will post 5.12 earnings per share for the current year.

Hedge Funds Weigh In On WSFS Financial

A number of hedge funds have recently added to or reduced their stakes in WSFS. Bank of New York Mellon Corp boosted its stake in WSFS Financial by 20.8% during the 1st quarter. Bank of New York Mellon Corp now owns 772,965 shares of the bank’s stock valued at $36,036,000 after purchasing an additional 133,079 shares during the last quarter. Citigroup Inc. boosted its stake in shares of WSFS Financial by 51.4% in the 1st quarter. Citigroup Inc. now owns 57,139 shares of the bank’s stock worth $2,664,000 after buying an additional 19,407 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of WSFS Financial by 15.5% in the 1st quarter. Bank of Montreal Can now owns 20,076 shares of the bank’s stock worth $1,003,000 after buying an additional 2,699 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of WSFS Financial by 116.7% in the 1st quarter. MetLife Investment Management LLC now owns 34,828 shares of the bank’s stock worth $1,624,000 after buying an additional 18,755 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of WSFS Financial by 18.3% in the 1st quarter. Rhumbline Advisers now owns 181,383 shares of the bank’s stock worth $8,456,000 after buying an additional 28,035 shares during the last quarter. Institutional investors and hedge funds own 88.10% of the company’s stock.

About WSFS Financial

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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.