WSFS Financial (WSFS) Downgraded by Zacks Investment Research to “Hold”

WSFS Financial (NASDAQ:WSFS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

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. “

Other equities analysts also recently issued research reports about the company. DA Davidson upped their price objective on WSFS Financial to $64.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. They noted that the move was a valuation call. Sandler O’Neill reiterated a “buy” rating and issued a $57.00 price objective on shares of WSFS Financial in a research note on Tuesday, January 23rd. Boenning Scattergood reiterated a “buy” rating on shares of WSFS Financial in a research note on Wednesday, October 25th. BidaskClub downgraded WSFS Financial from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. Finally, ValuEngine downgraded WSFS Financial from a “buy” rating to a “hold” rating in a research note on Saturday, November 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $56.00.

Shares of WSFS Financial (NASDAQ WSFS) traded down $0.95 during midday trading on Wednesday, hitting $48.50. The stock had a trading volume of 54,000 shares, compared to its average volume of 93,656. WSFS Financial has a 12-month low of $42.45 and a 12-month high of $53.00. The stock has a market cap of $1,553.62, a P/E ratio of 26.22, a PEG ratio of 1.24 and a beta of 1.22. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.06 and a quick ratio of 1.06.

WSFS Financial (NASDAQ:WSFS) last announced its earnings results on Monday, January 22nd. The bank reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. WSFS Financial had a return on equity of 11.46% and a net margin of 15.70%. The firm had revenue of $89.90 million for the quarter, compared to the consensus estimate of $57.89 million. During the same quarter in the previous year, the business earned $0.56 EPS. The company’s revenue was up 11.4% compared to the same quarter last year. research analysts expect that WSFS Financial will post 3.33 earnings per share for the current fiscal year.

In other WSFS Financial news, EVP S James Mazarakis sold 1,868 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $51.49, for a total transaction of $96,183.32. Following the sale, the executive vice president now owns 42,995 shares in the company, valued at $2,213,812.55. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.89% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of WSFS. UBS Asset Management Americas Inc. lifted its position in shares of WSFS Financial by 75.4% during the second quarter. UBS Asset Management Americas Inc. now owns 12,474 shares of the bank’s stock worth $566,000 after acquiring an additional 5,362 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of WSFS Financial by 4.8% during the second quarter. Vanguard Group Inc. now owns 1,307,153 shares of the bank’s stock worth $59,280,000 after acquiring an additional 59,876 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of WSFS Financial by 9.7% during the second quarter. California Public Employees Retirement System now owns 20,384 shares of the bank’s stock worth $924,000 after acquiring an additional 1,800 shares in the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of WSFS Financial by 0.8% during the second quarter. Parametric Portfolio Associates LLC now owns 58,659 shares of the bank’s stock worth $2,660,000 after acquiring an additional 488 shares in the last quarter. Finally, State Street Corp lifted its position in shares of WSFS Financial by 7.3% during the second quarter. State Street Corp now owns 585,592 shares of the bank’s stock worth $26,559,000 after acquiring an additional 39,671 shares in the last quarter. Hedge funds and other institutional investors own 81.02% of the company’s stock.

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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.

Analyst Recommendations for WSFS Financial (NASDAQ:WSFS)

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