Keefe reiterates WSFS stock Market Perform rating, $64 target

Tuesday, Keefe, Bruyette & Woods maintained a Market Perform rating on WSFS Financial (NASDAQ:WSFS), with a steady price target of $64.00. The firm acknowledged WSFS Financial’s high performance and its strong market positioning following a series of investor meetings with the bank’s top executives, including President, CEO, and Chairman Rodger Levenson, CFO David Burg, and COO Art Bacci.

The analysts expressed a heightened appreciation for WSFS Financial, highlighting the bank’s robust returns, with a 15% return on tangible common equity (ROTCE). With a market capitalization of $3.12 billion and a P/E ratio of 12.14, the bank has demonstrated solid financial metrics. They also noted the bank’s income diversification, with approximately one-third of revenues generated from fees, and its capital flexibility as key strengths. InvestingPro data reveals the company has maintained dividend payments for 28 consecutive years, showcasing its financial stability.

Despite the broader macroeconomic uncertainty that has impacted net growth, the analysts believe that WSFS Financial is poised to increase its market share in the Greater Philadelphia and Delaware region. The bank’s ongoing success in wealth and trust services is expected to continue bolstering strong fee income growth.

The reiteration of the Market Perform rating and the $64.00 price target reflects the analysts’ perspective on the bank’s current valuation and future prospects. They see WSFS Financial as a solid performer within the banking sector, capable of navigating the challenges and opportunities in its regional market.

In other recent news, WSFS Financial Corporation reported its first-quarter 2025 earnings, which saw an earnings per share (EPS) of $1.13, surpassing analyst forecasts of $1.04. Despite this positive earnings surprise, the company’s revenue slightly missed expectations, coming in at $256.1 million compared to the forecasted $256.6 million. Additionally, WSFS announced the appointment of Allan Matyger as the new Executive Vice President and Chief Information Officer, a role in which he will lead the bank’s technology strategy and digital transformation efforts. Rebecca Seeman was also appointed as the Senior Vice President, Chief Operating Officer of Consumer Banking, where she will oversee various strategic aspects of consumer banking. Analysts from Stephens and Piper Sandler engaged with WSFS executives during the earnings call, discussing topics such as the company’s net charge-offs and deposit beta strategy. The company maintains strong capital ratios and is exploring continued capital returns through share buybacks. WSFS continues to focus on operational efficiencies and strategic initiatives to navigate the current economic environment.

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