WSFS Financial Co. (WSFS) Cut to Hold at ValuEngine
ValuEngine downgraded shares of WSFS Financial Co. (NASDAQ:WSFS) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.
Other analysts have also recently issued research reports about the stock. Boenning Scattergood restated a buy rating and issued a $49.00 target price on shares of WSFS Financial in a research note on Friday, July 28th. BidaskClub cut shares of WSFS Financial from a sell rating to a strong sell rating in a research note on Friday, July 28th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and issued a $50.00 price objective on shares of WSFS Financial in a research note on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $51.33.
Shares of WSFS Financial (NASDAQ:WSFS) opened at $48.55 on Friday. WSFS Financial has a 52 week low of $41.75 and a 52 week high of $52.15. The company has a market cap of $1,520.00, a price-to-earnings ratio of 20.04, a PEG ratio of 1.93 and a beta of 1.25. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.26.
WSFS Financial (NASDAQ:WSFS) last released its earnings results on Monday, October 23rd. The bank reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.01). WSFS Financial had a return on equity of 11.27% and a net margin of 23.22%. The firm had revenue of $87.80 million during the quarter, compared to analyst estimates of $56.86 million. During the same quarter last year, the business posted $0.41 EPS. The firm’s revenue was up 16.2% on a year-over-year basis. equities research analysts expect that WSFS Financial will post 2.51 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 21st. Investors of record on Tuesday, November 7th were paid a $0.09 dividend. This is a boost from WSFS Financial’s previous quarterly dividend of $0.07. The ex-dividend date was Monday, November 6th. This represents a $0.36 annualized dividend and a dividend yield of 0.74%. WSFS Financial’s dividend payout ratio (DPR) is 14.88%.
In related 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 value of $100,436.40. Following the completion of the sale, the executive vice president now owns 90,589 shares in the company, valued at $4,395,378.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP S James Mazarakis sold 7,161 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $44.86, for a total transaction of $321,242.46. Following the completion of the sale, the executive vice president now owns 48,288 shares of the company’s stock, valued at approximately $2,166,199.68. The disclosure for this sale can be found here. 4.89% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. lifted its stake in shares of WSFS Financial by 10.7% in the second 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 period. Victory Capital Management Inc. raised its position in WSFS Financial by 17.6% during the second quarter. Victory Capital Management Inc. now owns 3,977 shares of the bank’s stock worth $180,000 after acquiring an additional 596 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in WSFS Financial by 601.4% during the second quarter. BNP Paribas Arbitrage SA now owns 4,005 shares of the bank’s stock worth $182,000 after acquiring an additional 3,434 shares during the last quarter. Brown Advisory Securities LLC acquired a new position in WSFS Financial during the third quarter worth about $234,000. Finally, Citadel Advisors LLC acquired a new position in WSFS Financial during the third quarter worth about $287,000. Hedge funds and other institutional investors own 78.28% of the company’s stock.
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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