WSFS Financial (WSFS) Downgraded to Sell at BidaskClub

BidaskClub cut shares of WSFS Financial (NASDAQ:WSFS) from a hold rating to a sell rating in a report released on Wednesday morning.

Other research analysts also recently issued research reports about the stock. Stephens reissued a buy rating and issued a $58.00 price objective on shares of WSFS Financial in a research report on Monday, August 13th. Boenning Scattergood reaffirmed a buy rating on shares of WSFS Financial in a report on Tuesday, October 23rd. Zacks Investment Research raised shares of WSFS Financial from a hold rating to a buy rating and set a $62.00 target price for the company in a report on Thursday, July 26th. ValuEngine downgraded shares of WSFS Financial from a hold rating to a sell rating in a report on Tuesday, October 2nd. Finally, Sandler O’Neill reaffirmed a buy rating and set a $63.00 target price on shares of WSFS Financial in a report 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 assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $59.67.

Shares of WSFS opened at $43.20 on Wednesday. WSFS Financial has a one year low of $40.04 and a one year high of $57.70. The stock has a market capitalization of $1.37 billion, a PE ratio of 16.88, a PEG ratio of 1.02 and a beta of 1.14. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.07.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings data on Monday, October 22nd. The bank reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. WSFS Financial had a net margin of 23.83% and a return on equity of 14.37%. The company had revenue of $105.00 million during the quarter, compared to the consensus estimate of $100.42 million. On average, research analysts forecast that WSFS Financial will post 3.55 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Tuesday, November 6th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Monday, November 5th. WSFS Financial’s payout ratio is 17.19%.

In related news, CFO Dominic C. Canuso bought 4,245 shares of WSFS Financial stock in a transaction that occurred on Thursday, August 30th. The stock was acquired at an average price of $48.95 per share, with a total value of $207,792.75. Following the acquisition, the chief financial officer now owns 3,447 shares of the company’s stock, valued at approximately $168,730.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Richard Wright sold 3,096 shares of WSFS Financial stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $50.36, for a total transaction of $155,914.56. Following the sale, the executive vice president now directly owns 45,265 shares of the company’s stock, valued at approximately $2,279,545.40. The disclosure for this sale can be found here. Insiders have sold a total of 83,791 shares of company stock valued at $4,049,304 in the last ninety days. 4.89% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in WSFS. Trexquant Investment LP bought a new stake in WSFS Financial in the 3rd quarter valued at about $217,000. FMR LLC boosted its holdings in WSFS Financial by 9.6% in the 3rd quarter. FMR LLC now owns 1,220,047 shares of the bank’s stock valued at $57,525,000 after purchasing an additional 106,489 shares during the period. BlackRock Inc. boosted its holdings in WSFS Financial by 0.4% in the 3rd quarter. BlackRock Inc. now owns 2,149,438 shares of the bank’s stock valued at $101,347,000 after purchasing an additional 8,410 shares during the period. Bank of New York Mellon Corp boosted its holdings in WSFS Financial by 0.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 176,378 shares of the bank’s stock valued at $8,316,000 after purchasing an additional 1,339 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in WSFS Financial by 10.2% in the 3rd quarter. Alliancebernstein L.P. now owns 580,633 shares of the bank’s stock valued at $27,377,000 after purchasing an additional 53,700 shares during the period. 78.90% of the stock is owned by institutional investors and hedge funds.

About WSFS Financial

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.

Read More: Balance Sheet

Analyst Recommendations for WSFS Financial (NASDAQ:WSFS)

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