WSFS Financial Corp. (WSFS) Rating Lowered to Hold at Zacks Investment Research
WSFS Financial Corp. (NASDAQ:WSFS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
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. Stephens started coverage on WSFS Financial Corp. in a research note on Friday, September 23rd. They set an “equal weight” rating for the company. Keefe, Bruyette & Woods increased their price objective on WSFS Financial Corp. from $36.00 to $37.00 and gave the company a “market perform” rating in a research note on Monday, August 1st.
Shares of WSFS Financial Corp. (NASDAQ:WSFS) opened at 36.81 on Thursday. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 17.77 and a beta of 1.36. The firm’s 50-day moving average is $37.33 and its 200-day moving average is $34.79. WSFS Financial Corp. has a 52 week low of $26.40 and a 52 week high of $39.31.
WSFS Financial Corp. (NASDAQ:WSFS) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. WSFS Financial Corp. had a net margin of 21.20% and a return on equity of 11.78%. The business had revenue of $46.41 million for the quarter, compared to analysts’ expectations of $46.64 million. During the same period last year, the business earned $0.43 earnings per share. The business’s quarterly revenue was up 18.7% on a year-over-year basis. Equities research analysts predict that WSFS Financial Corp. will post $2.20 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 19th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Wednesday, August 17th. WSFS Financial Corp.’s dividend payout ratio (DPR) is presently 11.59%.
In other news, EVP Stephen P. Clark sold 7,269 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $36.03, for a total transaction of $261,902.07. Following the completion of the sale, the executive vice president now owns 15,689 shares of the company’s stock, valued at $565,274.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.17% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its stake in WSFS Financial Corp. by 4.9% in the first quarter. Renaissance Technologies LLC now owns 1,041,914 shares of the company’s stock worth $33,883,000 after buying an additional 48,509 shares during the period. TIAA CREF Investment Management LLC raised its stake in WSFS Financial Corp. by 6.6% in the first quarter. TIAA CREF Investment Management LLC now owns 97,050 shares of the company’s stock worth $3,156,000 after buying an additional 6,002 shares during the period. Hancock Holding Co. bought a new stake in WSFS Financial Corp. during the first quarter worth $769,000. Legal & General Group Plc raised its stake in WSFS Financial Corp. by 15.5% in the first quarter. Legal & General Group Plc now owns 4,605 shares of the company’s stock worth $151,000 after buying an additional 618 shares during the period. Finally, Nuveen Asset Management LLC raised its stake in WSFS Financial Corp. by 34.1% in the first quarter. Nuveen Asset Management LLC now owns 107,461 shares of the company’s stock worth $3,495,000 after buying an additional 27,324 shares during the period. 77.28% of the stock is owned by hedge funds and other institutional investors.
WSFS Financial Corp. 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. The Company 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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