Piper Sandler Increases WSFS Financial (NASDAQ:WSFS) Price Target to $48.00

WSFS Financial (NASDAQ:WSFS) had its price objective upped by research analysts at Piper Sandler from $45.00 to $48.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. Piper Sandler’s price objective would indicate a potential upside of 9.59% from the company’s current price.

WSFS Financial Stock Down 2.1 %

Shares of WSFS Financial stock opened at $43.80 on Wednesday. WSFS Financial has a 1 year low of $32.76 and a 1 year high of $47.97. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market capitalization of $2.63 billion, a P/E ratio of 9.78 and a beta of 1.02. The business has a 50-day moving average of $44.17 and a two-hundred day moving average of $43.21.

WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings data on Thursday, April 25th. The bank reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.04. The business had revenue of $251.10 million for the quarter, compared to analyst estimates of $247.57 million. WSFS Financial had a net margin of 20.73% and a return on equity of 11.94%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the business posted $1.02 earnings per share. As a group, equities analysts predict that WSFS Financial will post 4.25 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Stephen P. Clark sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $46.61, for a total transaction of $139,830.00. Following the transaction, the executive vice president now owns 25,671 shares in the company, valued at $1,196,525.31. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WSFS. Vanguard Group Inc. lifted its holdings in shares of WSFS Financial by 5.3% during the first quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock worth $331,246,000 after purchasing an additional 372,402 shares during the period. Dimensional Fund Advisors LP increased its position in WSFS Financial by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,757,216 shares of the bank’s stock valued at $172,572,000 after buying an additional 77,589 shares in the last quarter. Franklin Resources Inc. boosted its holdings in WSFS Financial by 8.8% in the fourth quarter. Franklin Resources Inc. now owns 2,886,034 shares of the bank’s stock worth $132,556,000 after acquiring an additional 232,508 shares in the last quarter. Champlain Investment Partners LLC grew its position in WSFS Financial by 14.1% in the 1st quarter. Champlain Investment Partners LLC now owns 1,293,281 shares of the bank’s stock valued at $58,379,000 after purchasing an additional 160,090 shares during the period. Finally, Norges Bank acquired a new position in shares of WSFS Financial during the fourth quarter valued at about $31,369,000. Institutional investors own 88.49% of the company’s stock.

WSFS Financial Company Profile

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.