WSFS Financial (WSFS) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research cut shares of WSFS Financial (NASDAQ:WSFS) from a strong-buy rating to a hold rating in a report published 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. “
Other research analysts have also recently issued reports about the company. Boenning Scattergood reiterated a buy rating on shares of WSFS Financial in a research report on Wednesday, October 25th. BidaskClub cut WSFS Financial from a buy rating to a hold rating in a research report on Saturday, December 9th. ValuEngine cut WSFS Financial from a buy rating to a hold rating in a research report on Saturday, November 25th. Finally, Keefe, Bruyette & Woods restated a hold rating and issued a $50.00 price objective on shares of WSFS Financial in a research report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. WSFS Financial presently has a consensus rating of Hold and an average price target of $52.50.
WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings results on Monday, October 23rd. The bank reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.01). The company had revenue of $87.80 million for the quarter, compared to analysts’ expectations of $56.86 million. WSFS Financial had a net margin of 21.27% and a return on equity of 10.93%. The firm’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 earnings per share. equities analysts predict that WSFS Financial will post 2.51 EPS for the current year.
In other news, EVP Patrick Joseph Ward sold 2,070 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP S James Mazarakis sold 1,868 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $51.49, for a total value of $96,183.32. Following the completion of the sale, the executive vice president now owns 42,995 shares of the company’s stock, valued at $2,213,812.55. The disclosure for this sale can be found here. 4.89% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. increased its position in shares of WSFS Financial by 10.7% during the second quarter. Ameritas Investment Partners Inc. now owns 2,653 shares of the bank’s stock worth $120,000 after purchasing an additional 256 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of WSFS Financial by 17.6% during the second quarter. Victory Capital Management Inc. now owns 3,977 shares of the bank’s stock worth $180,000 after purchasing an additional 596 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of WSFS Financial by 601.4% during the second quarter. BNP Paribas Arbitrage SA now owns 4,005 shares of the bank’s stock worth $182,000 after purchasing an additional 3,434 shares in the last quarter. Brown Advisory Securities LLC purchased a new stake in shares of WSFS Financial during the third quarter worth approximately $234,000. Finally, Citadel Advisors LLC purchased a new stake in shares of WSFS Financial during the third quarter worth approximately $287,000. Hedge funds and other institutional investors own 80.48% of the company’s stock.
About WSFS Financial
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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