What's Driving the WSFS Bank Stock Price?

What's Driving the WSFS Bank Stock Price?

WSFS Financial Corporation is a Delaware-based bank holding company that operates WSFS Bank, a regional bank that provides financial services to businesses and individuals in the greater Delaware Valley. WSFS Bank'sstock pricehas been on the rise in recent months, but what factors are driving this growth?

Strong Financial Performance

One of the key drivers of WSFS Bank's stock price is the company's strongfinancial performance. In 2020, despite the economic challenges posed by the COVID-19 pandemic, WSFS Bank reported record earnings and loan growth. This strong performance has continued into 2021, with the bank reporting another quarter of record earnings in the first quarter of the year.

Expansion into New Markets

Another factor driving the growth of WSFS Bank's stock price is the bank's expansion into new markets. In 2020, the bank completed its acquisition of Bryn Mawr Bank Corporation, which expanded its footprint into the affluent Philadelphia suburbs. This acquisition has allowed WSFS Bank to gain a foothold in a new market and tap into new sources of revenue and growth.

Focus on Digital Banking

WSFS Bank has also been focused on expanding itsdigital bankingcapabilities, which is increasingly important in today's banking landscape. The bank has invested in new technology and launched new digital products and services, such as its mobile banking app, to make banking more convenient for its customers. This focus on digital banking has helped the bank attract new customers and retain existing ones, which has contributed to its strong financial performance.

Investment Potential

For investors, WSFS Bank's stock price growth presents a potential opportunity forinvestment. The bank's strong financial performance, expansion into new markets, and focus on digital banking make it an attractive investment option. However, as with any investment, it is important for investors to carefully consider their investment goals, risk tolerance, and the overall market conditions before making any investment decisions.

In conclusion, WSFS Bank's strong financial performance, expansion into new markets, and focus on digital banking are key factors driving the growth of its stock price. For investors, the bank presents a potential opportunity for investment, but careful consideration and analysis is necessary before making any investment decisions.