WSFS Financial (WSFS) Rating Lowered to Sell at BidaskClub
WSFS Financial (NASDAQ:WSFS) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
WSFS has been the subject of a number of other reports. Boenning Scattergood reiterated a “buy” rating on shares of WSFS Financial in a report on Wednesday, October 25th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $50.00 price objective on shares of WSFS Financial in a report on Tuesday, October 24th. Finally, ValuEngine cut WSFS Financial from a “buy” rating to a “hold” rating in a report on Saturday, November 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $51.33.
WSFS Financial (NASDAQ WSFS) opened at $49.20 on Friday. WSFS Financial has a 52-week low of $42.45 and a 52-week high of $52.50. 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 capitalization of $1,544.39, a PE ratio of 20.33, a P/E/G ratio of 1.96 and a beta of 1.24.
In related news, EVP S James Mazarakis sold 1,868 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $51.49, for a total transaction of $96,183.32. Following the completion of the sale, the executive vice president now directly owns 42,995 shares in the company, valued at approximately $2,213,812.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Patrick Joseph Ward sold 2,070 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $48.52, for a total value of $100,436.40. Following the sale, the executive vice president now owns 90,589 shares of the company’s stock, valued at $4,395,378.28. The disclosure for this sale can be found here. Corporate insiders own 4.89% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. raised its position in 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 purchasing an additional 256 shares during the last quarter. Victory Capital Management Inc. raised its position in 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 purchasing an additional 596 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in 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 purchasing an additional 3,434 shares during the last quarter. Brown Advisory Securities LLC bought a new position in WSFS Financial during the 3rd quarter valued at approximately $234,000. Finally, Laurion Capital Management LP bought a new position in WSFS Financial during the 2nd quarter valued at approximately $274,000. 85.04% of the stock is owned by institutional investors and hedge funds.
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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