WSFS Financial (NASDAQ:WSFS) Cut to Strong Sell at BidaskClub

WSFS Financial (NASDAQ:WSFS) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday, January 6th.

Other analysts also recently issued research reports about the company. Zacks Investment Research downgraded WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Saturday, December 30th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $50.00 price target on shares of WSFS Financial in a research note on Tuesday, October 24th. Boenning Scattergood reiterated a “buy” rating on shares of WSFS Financial in a research note on Wednesday, October 25th. Finally, ValuEngine downgraded WSFS Financial from a “buy” rating to a “hold” rating in a research note on Saturday, November 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. WSFS Financial currently has an average rating of “Hold” and a consensus price target of $52.50.

Shares of WSFS Financial (NASDAQ:WSFS) traded down $0.05 during mid-day trading on Friday, reaching $50.50. The company’s stock had a trading volume of 84,755 shares, compared to its average volume of 88,941. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.06 and a current ratio of 1.06. WSFS Financial has a 12 month low of $42.45 and a 12 month high of $52.50. The firm has a market cap of $1,586.76, a price-to-earnings ratio of 20.78, a P/E/G ratio of 1.61 and a beta of 1.23.

WSFS Financial (NASDAQ:WSFS) last issued its 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 firm had revenue of $87.80 million during the quarter, compared to analyst estimates of $56.86 million. WSFS Financial had a return on equity of 10.93% and a net margin of 21.27%. The business’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 earnings per share. sell-side analysts forecast that WSFS Financial will post 2.51 earnings per share for the current fiscal year.

In other news, EVP S James Mazarakis sold 1,868 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $51.49, for a total value of $96,183.32. Following the completion of the transaction, the executive vice president now directly owns 42,995 shares of the company’s stock, valued at approximately $2,213,812.55. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Patrick Joseph Ward sold 2,070 shares of the 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 transaction, the executive vice president now directly owns 90,589 shares of the company’s stock, valued at $4,395,378.28. The disclosure for this sale can be found here. Corporate insiders own 4.89% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. increased its holdings in WSFS Financial by 10.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,653 shares of the bank’s stock valued at $120,000 after purchasing an additional 256 shares in the last quarter. Victory Capital Management Inc. increased its holdings in WSFS Financial by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,977 shares of the bank’s stock valued at $180,000 after purchasing an additional 596 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in WSFS Financial by 601.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,005 shares of the bank’s stock valued at $182,000 after purchasing an additional 3,434 shares in the last quarter. Brown Advisory Securities LLC acquired a new stake in WSFS Financial during the 3rd quarter valued at $234,000. Finally, Citadel Advisors LLC acquired a new stake in WSFS Financial during the 3rd quarter valued at $287,000. 80.48% of the stock is owned by hedge funds and other institutional investors.

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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.

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