StockNews.com Downgrades WSFS Financial (NASDAQ:WSFS) to Sell

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

A number of other brokerages have also commented on WSFS. Piper Sandler raised WSFS Financial from a “neutral” rating to an “overweight” rating and cut their price target for the company from $56.00 to $51.00 in a research note on Monday, April 25th. Stephens cut their price objective on WSFS Financial from $53.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, April 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $53.25.

Shares of WSFS stock opened at $39.91 on Friday. The business’s 50-day moving average price is $40.92 and its 200-day moving average price is $47.14. WSFS Financial has a 12 month low of $37.03 and a 12 month high of $56.30. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 9.09 and a beta of 1.09. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15.

WSFS Financial (NASDAQ:WSFSGet Rating) last announced its quarterly earnings results on Thursday, April 21st. The bank reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.14). WSFS Financial had a net margin of 31.02% and a return on equity of 11.89%. The firm had revenue of $199.13 million for the quarter, compared to analyst estimates of $134.16 million. During the same period in the previous year, the business posted $1.39 earnings per share. On average, sell-side analysts predict that WSFS Financial will post 4.07 earnings per share for the current fiscal year.

In related news, Director Nancy J. Foster purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 26th. The stock was acquired at an average price of $41.69 per share, for a total transaction of $41,690.00. Following the completion of the acquisition, the director now owns 4,213 shares of the company’s stock, valued at approximately $175,639.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard Wright sold 1,973 shares of the company’s stock in a transaction on Tuesday, April 19th. The stock was sold at an average price of $42.03, for a total value of $82,925.19. Following the sale, the executive vice president now owns 42,196 shares of the company’s stock, valued at approximately $1,773,497.88. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in WSFS Financial by 34.8% in the first quarter. BlackRock Inc. now owns 9,464,621 shares of the bank’s stock worth $441,240,000 after purchasing an additional 2,442,621 shares during the last quarter. Vanguard Group Inc. boosted its position in WSFS Financial by 16.2% in the first quarter. Vanguard Group Inc. now owns 7,112,476 shares of the bank’s stock worth $331,584,000 after purchasing an additional 992,425 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in WSFS Financial by 32.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,263,625 shares of the bank’s stock worth $152,154,000 after purchasing an additional 790,917 shares during the last quarter. State Street Corp boosted its position in WSFS Financial by 29.1% in the first quarter. State Street Corp now owns 2,878,509 shares of the bank’s stock worth $134,196,000 after purchasing an additional 648,867 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position 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 worth $86,029,000 after purchasing an additional 175,955 shares during the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.

About WSFS Financial (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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Analyst Recommendations for WSFS Financial (NASDAQ:WSFS)

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