WSFS Financial (WSFS) Rating Lowered to Hold at Zacks Investment Research
WSFS Financial (NASDAQ:WSFS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Saturday.
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. “
WSFS has been the subject of a number of other research reports. ValuEngine downgraded WSFS Financial from a “buy” rating to a “hold” rating in a report on Saturday, November 25th. Boenning Scattergood restated a “buy” rating on shares of WSFS Financial in a report on Wednesday, October 25th. BidaskClub downgraded WSFS Financial from a “hold” rating to a “sell” rating in a report on Friday, December 15th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $50.00 target price on shares of WSFS Financial in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $52.50.
WSFS Financial (NASDAQ:WSFS) last announced its earnings results on Monday, October 23rd. The bank reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The business had revenue of $87.80 million for the quarter, compared to the consensus estimate of $56.86 million. WSFS Financial had a net margin of 21.27% and a return on equity of 10.93%. WSFS Financial’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 EPS. equities research analysts forecast that WSFS Financial will post 2.51 EPS for the current fiscal year.
In related news, EVP S James Mazarakis sold 1,868 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $51.49, for a total value of $96,183.32. Following the sale, the executive vice president now directly owns 42,995 shares of the company’s stock, valued at $2,213,812.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Patrick Joseph Ward sold 2,070 shares of the company’s stock in a transaction on Monday, November 20th. The stock was 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 directly owns 90,589 shares in the company, valued at $4,395,378.28. The disclosure for this sale can be found here. 4.89% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN grew its stake in WSFS Financial by 14.7% in the second quarter. Wells Fargo & Company MN now owns 53,825 shares of the bank’s stock worth $2,441,000 after purchasing an additional 6,905 shares during the period. Chatham Capital Group Inc. grew its stake in WSFS Financial by 50.6% in the second quarter. Chatham Capital Group Inc. now owns 23,380 shares of the bank’s stock worth $1,060,000 after purchasing an additional 7,855 shares during the period. Principal Financial Group Inc. grew its stake in WSFS Financial by 60.6% in the second quarter. Principal Financial Group Inc. now owns 19,505 shares of the bank’s stock worth $884,000 after purchasing an additional 7,362 shares during the period. Macquarie Group Ltd. grew its stake in WSFS Financial by 25.1% in the second quarter. Macquarie Group Ltd. now owns 781,288 shares of the bank’s stock worth $35,431,000 after purchasing an additional 156,617 shares during the period. Finally, Penn Capital Management Co. Inc. grew its stake in WSFS Financial by 9.2% in the second quarter. Penn Capital Management Co. Inc. now owns 302,933 shares of the bank’s stock worth $13,760,000 after purchasing an additional 25,573 shares during the period. 80.48% of the stock is currently owned by institutional investors.
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WSFS Financial Company Profile
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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