WSFS Financial (NASDAQ:WSFS) Sets New 1-Year High at $48.01

WSFS Financial Co. (NASDAQ:WSFS)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $48.01 and last traded at $47.80, with a volume of 10970 shares traded. The stock had previously closed at $46.89.

Wall Street Analyst Weigh In

Separately, Piper Sandler lifted their price target on WSFS Financial from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, May 22nd.

WSFS Financial Stock Performance

The company has a 50-day moving average of $45.06 and a 200 day moving average of $44.17. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $2.87 billion, a PE ratio of 10.47 and a beta of 1.02.

WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings results on Thursday, April 25th. The bank reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.04. WSFS Financial had a return on equity of 11.94% and a net margin of 20.73%. The firm had revenue of $251.10 million during the quarter, compared to analyst estimates of $247.57 million. During the same quarter in the previous year, the company posted $1.02 earnings per share. The company’s revenue was up 2.2% compared to the same quarter last year. Equities research analysts predict that WSFS Financial Co. will post 4.27 EPS for the current year.

WSFS Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Thursday, May 9th. WSFS Financial’s dividend payout ratio (DPR) is presently 13.39%.

Insider Activity

In related news, EVP Stephen P. Clark sold 3,000 shares of the business’s stock in a transaction dated 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 approximately $1,196,525.31. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of WSFS Financial by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock worth $331,246,000 after buying an additional 372,402 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings 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 worth $172,572,000 after purchasing an additional 77,589 shares during the period. Franklin Resources Inc. raised its holdings in WSFS Financial by 8.8% in the 4th quarter. Franklin Resources Inc. now owns 2,886,034 shares of the bank’s stock worth $132,556,000 after purchasing an additional 232,508 shares during the period. Champlain Investment Partners LLC increased its stake 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 worth $58,379,000 after buying an additional 160,090 shares in the last quarter. Finally, Norges Bank purchased a new stake in WSFS Financial in the 4th quarter worth $31,369,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

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.