WSFS Financial (WSFS) Downgraded by BidaskClub to “Strong Sell”
BidaskClub lowered shares of WSFS Financial (NASDAQ:WSFS) from a sell rating to a strong sell rating in a research report released on Friday.
A number of other equities research analysts have also weighed in on the stock. ValuEngine lowered shares of WSFS Financial from a hold rating to a sell rating in a research note on Tuesday, October 2nd. Stephens reiterated a buy rating and set a $58.00 target price on shares of WSFS Financial in a research note on Monday, August 13th. Boenning Scattergood reiterated a buy rating on shares of WSFS Financial in a research note on Tuesday, October 23rd. Keefe, Bruyette & Woods upgraded shares of WSFS Financial from a market perform rating to an outperform rating in a research note on Wednesday, October 10th. Finally, Sandler O’Neill reiterated a buy rating and set a $63.00 target price on shares of WSFS Financial in a research note on Sunday, August 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $59.67.
NASDAQ WSFS traded up $0.23 during mid-day trading on Friday, reaching $39.80. The stock had a trading volume of 151,947 shares, compared to its average volume of 126,635. WSFS Financial has a 1 year low of $37.97 and a 1 year high of $57.70. The firm has a market cap of $1.24 billion, a P/E ratio of 15.55, a PEG ratio of 0.93 and a beta of 1.11. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.68.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 20th. Shareholders of record on Tuesday, November 6th were paid a dividend of $0.11 per share. The ex-dividend date was Monday, November 5th. This represents a $0.44 dividend on an annualized basis and a yield of 1.11%. WSFS Financial’s dividend payout ratio is presently 17.19%.
In other news, CEO Mark A. Turner sold 12,995 shares of the business’s stock in a transaction on Friday, October 5th. The shares were sold at an average price of $47.59, for a total transaction of $618,432.05. Following the completion of the sale, the chief executive officer now owns 144,631 shares of the company’s stock, valued at approximately $6,882,989.29. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mark A. Turner sold 25,700 shares of the business’s stock in a transaction on Monday, October 8th. The shares were sold at an average price of $47.81, for a total transaction of $1,228,717.00. Following the sale, the chief executive officer now directly owns 144,631 shares of the company’s stock, valued at approximately $6,914,808.11. The disclosure for this sale can be found here. 4.89% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. grew its position in shares of WSFS Financial by 136.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 10,595 shares of the bank’s stock valued at $255,000 after acquiring an additional 6,113 shares during the period. Macquarie Group Ltd. grew its position in shares of WSFS Financial by 9.1% during the 2nd quarter. Macquarie Group Ltd. now owns 1,063,000 shares of the bank’s stock valued at $56,658,000 after acquiring an additional 88,373 shares during the period. Engineers Gate Manager LP bought a new stake in shares of WSFS Financial during the 2nd quarter valued at $252,000. Tower Bridge Advisors bought a new stake in shares of WSFS Financial during the 2nd quarter valued at $213,000. Finally, OppenheimerFunds Inc. grew its position in shares of WSFS Financial by 27.2% during the 2nd quarter. OppenheimerFunds Inc. now owns 564,319 shares of the bank’s stock valued at $30,078,000 after acquiring an additional 120,721 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.
WSFS Financial Company Profile
WSFS Financial Corporation operates as the savings and loan holding company for the Wilmington Savings Fund Society, FSB that provides various banking services in the United States. It operates through three segments: WSFS Bank, Cash Connect, and Wealth Management. The company offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as jumbo certificates of deposit.
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