WSFS Financial (NASDAQ:WSFS) Cut to Sell at StockNews.com

WSFS Financial (NASDAQ:WSFSGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Wednesday.

Other analysts have also recently issued research reports about the stock. Piper Sandler upgraded shares of WSFS Financial from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $56.00 to $51.00 in a research note on Monday, April 25th. Stephens dropped their price objective on shares of WSFS Financial from $53.00 to $52.00 and set an “equal weight” rating for the company in a research note on Monday, April 25th. Finally, Zacks Investment Research raised WSFS Financial from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $51.80.

WSFS Financial stock opened at $38.21 on Wednesday. The firm has a 50 day moving average of $45.27 and a 200 day moving average of $49.85. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 8.70 and a beta of 1.09. WSFS Financial has a 12-month low of $37.84 and a 12-month high of $56.30. The company has a current ratio of 0.77, a quick ratio of 0.71 and a debt-to-equity ratio of 0.15.

WSFS Financial (NASDAQ:WSFSGet Rating) last released its earnings results on Thursday, April 21st. The bank reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.03). WSFS Financial had a return on equity of 11.89% and a net margin of 31.02%. During the same quarter in the previous year, the business earned $1.39 earnings per share. On average, analysts predict that WSFS Financial will post 4.11 EPS for the current year.

In other WSFS Financial news, EVP Richard Wright sold 1,973 shares of the business’s stock in a transaction on Tuesday, April 19th. The stock was sold at an average price of $42.03, for a total transaction of $82,925.19. Following the transaction, the executive vice president now owns 42,196 shares of the company’s stock, valued at $1,773,497.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nancy J. Foster acquired 1,000 shares of the stock in a transaction on Tuesday, April 26th. The shares were bought at an average cost of $41.69 per share, for a total transaction of $41,690.00. Following the purchase, the director now directly owns 4,213 shares of the company’s stock, valued at approximately $175,639.97. The disclosure for this purchase can be found here. Corporate insiders own 1.73% of the company’s stock.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in WSFS Financial by 0.4% during the fourth quarter. BlackRock Inc. now owns 7,022,000 shares of the bank’s stock worth $351,942,000 after purchasing an additional 30,719 shares during the period. State Street Corp lifted its holdings in WSFS Financial by 15.3% during the 4th quarter. State Street Corp now owns 2,229,642 shares of the bank’s stock worth $111,750,000 after buying an additional 296,184 shares during the last quarter. Janus Henderson Group PLC boosted its stake in WSFS Financial by 11.7% in the third quarter. Janus Henderson Group PLC now owns 1,676,653 shares of the bank’s stock valued at $86,029,000 after acquiring an additional 175,955 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in WSFS Financial by 303.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,473,111 shares of the bank’s stock valued at $73,832,000 after acquiring an additional 1,107,875 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in WSFS Financial by 0.5% in the third quarter. Invesco Ltd. now owns 1,317,601 shares of the bank’s stock valued at $67,605,000 after acquiring an additional 6,502 shares in the last quarter. Institutional investors own 70.92% of the company’s stock.

WSFS Financial Company Profile (Get Rating)

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. It offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as accepts jumbo certificates of deposit from individuals, businesses, and municipalities.

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