WSFS Financial Corp. (WSFS) Rating Lowered to Hold at Zacks Investment Research
According to Zacks, “WSFS Financial Corporation is a thrift holding company. WSFS provides residential and commercial real estate, commercial and consumer lending services, as well as cash management services funding these activities primarily with retail deposits and borrowings. “
Several other equities analysts have also recently commented on WSFS. Keefe, Bruyette & Woods upped their target price on shares of WSFS Financial Corp. from $36.00 to $37.00 and gave the company a market perform rating in a research note on Monday, August 1st. Stephens assumed coverage on shares of WSFS Financial Corp. in a research note on Friday, September 23rd. They issued an equal weight rating for the company.
Shares of WSFS Financial Corp. (NASDAQ:WSFS) opened at 35.94 on Thursday. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 17.35 and a beta of 1.36. The stock has a 50 day moving average of $37.24 and a 200-day moving average of $34.92. WSFS Financial Corp. has a 52 week low of $26.40 and a 52 week high of $39.31.
WSFS Financial Corp. (NASDAQ:WSFS) last released its earnings results on Thursday, July 28th. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The firm earned $46.41 million during the quarter, compared to analysts’ expectations of $46.64 million. WSFS Financial Corp. had a net margin of 21.20% and a return on equity of 11.78%. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.43 EPS. Analysts expect that WSFS Financial Corp. will post $2.20 earnings per share for the current year.
In other news, EVP Stephen P. Clark sold 7,269 shares of the stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $36.03, for a total value of $261,902.07. Following the completion of the transaction, the executive vice president now owns 15,689 shares in the company, valued at approximately $565,274.67. The sale was disclosed in a filing with the SEC, which is available at this link. 4.17% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Societe Generale acquired a new position in shares of WSFS Financial Corp. during the second quarter worth about $109,000. SG Americas Securities LLC purchased a new stake in shares of WSFS Financial Corp. during the second quarter worth about $109,000. Teacher Retirement System of Texas boosted its stake in shares of WSFS Financial Corp. by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 3,965 shares of the company’s stock worth $128,000 after buying an additional 483 shares during the period. Legal & General Group Plc boosted its stake in shares of WSFS Financial Corp. by 15.5% in the first quarter. Legal & General Group Plc now owns 4,605 shares of the company’s stock worth $151,000 after buying an additional 618 shares during the period. Finally, Huntington Asset Advisors Inc. purchased a new stake in shares of WSFS Financial Corp. during the first quarter worth about $167,000. Institutional investors own 77.28% of the company’s stock.
About WSFS Financial Corp.
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. The Company 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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