BidaskClub Downgrades WSFS Financial (WSFS) to Strong Sell
WSFS Financial (NASDAQ:WSFS) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Saturday.
Other research analysts have also issued reports about the stock. Boenning Scattergood reiterated a “buy” rating on shares of WSFS Financial in a research note on Wednesday, October 25th. ValuEngine lowered shares of WSFS Financial from a “buy” rating to a “hold” rating in a research note on Saturday, November 25th. Keefe, Bruyette & Woods restated a “hold” rating and set a $50.00 price objective on shares of WSFS Financial in a research note on Tuesday, October 24th. Finally, Zacks Investment Research lowered shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Saturday, December 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $52.50.
Shares of WSFS Financial (NASDAQ WSFS) traded down $0.05 during trading on Friday, hitting $48.05. 79,140 shares of the company traded hands, compared to its average volume of 80,404. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market cap of $1,509.85, a price-to-earnings ratio of 19.77, a price-to-earnings-growth ratio of 1.60 and a beta of 1.23. WSFS Financial has a 52 week low of $42.45 and a 52 week high of $52.50.
WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings results on Monday, October 23rd. The bank reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.01). The business had revenue of $87.80 million during the quarter, compared to the consensus estimate of $56.86 million. WSFS Financial had a return on equity of 10.93% and a net margin of 21.27%. The firm’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 earnings per share. equities analysts anticipate that WSFS Financial will post 2.51 EPS for the current fiscal year.
In other news, EVP Patrick Joseph Ward sold 2,070 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $48.52, for a total transaction of $100,436.40. Following the sale, the executive vice president now owns 90,589 shares of the company’s stock, valued at approximately $4,395,378.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP S James Mazarakis sold 1,868 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $51.49, for a total transaction of $96,183.32. Following the sale, the executive vice president now directly owns 42,995 shares in the company, valued at approximately $2,213,812.55. The disclosure for this sale can be found here. 4.89% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. boosted its holdings in shares of WSFS Financial by 10.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,653 shares of the bank’s stock valued at $120,000 after acquiring an additional 256 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of WSFS Financial by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,977 shares of the bank’s stock valued at $180,000 after acquiring an additional 596 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of WSFS Financial by 601.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,005 shares of the bank’s stock valued at $182,000 after acquiring an additional 3,434 shares during the last quarter. Brown Advisory Securities LLC purchased a new stake in shares of WSFS Financial during the 3rd quarter valued at about $234,000. Finally, Laurion Capital Management LP purchased a new stake in shares of WSFS Financial during the 2nd quarter valued at about $274,000. 80.48% of the stock is currently owned by hedge funds and other institutional investors.
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About WSFS Financial
WSFS Financial Corporation is a savings and loan holding company. The Company’s subsidiary is Wilmington Savings Fund Society, FSB (WSFS Bank or the Bank), which is the bank and trust company. It operates in three segments: WSFS Bank, Cash Connect and Wealth Management. The WSFS Bank segment provides loans and other financial products to commercial and retail customers.
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