WSFS Financial price target raised to $48 from $45 at Piper Sandler

Piper Sandler analyst Frank Schiraldi raised the firm’s price target on WSFS Financial to $48 from $45 and keeps a Neutral rating on the shares after the company announced several executive leadership changes, including the appointment of a permanent CFO. Effective August 15, David Burg will join the company as EVP & CFO. In tandem with the hiring of a permanent CFO, Art Bacci will be promoted to the role of EVP & COO with oversight of the bank’s Commercial, Wealth, Consumer and Cash Connect business lines among other operational responsibilities. With that, assuming the role of Chief Wealth Officer will be Jamie Hopkins, Piper adds.