WSFS Financial (NASDAQ:WSFS) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of WSFS Financial (NASDAQ:WSFSGet Rating) from a hold rating to a sell rating in a research report released on Tuesday.

WSFS has been the topic of a number of other research reports. DA Davidson boosted their price target on WSFS Financial to $52.00 in a research report on Tuesday, August 9th. Piper Sandler raised their price target on WSFS Financial to $58.00 and gave the stock an outperform rating in a research report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, WSFS Financial presently has an average rating of Hold and an average target price of $54.50.

WSFS Financial Stock Down 2.0 %

NASDAQ:WSFS opened at $48.75 on Tuesday. WSFS Financial has a 12-month low of $37.03 and a 12-month high of $56.30. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $3.09 billion, a P/E ratio of 14.68 and a beta of 1.10. The stock’s fifty day simple moving average is $46.47 and its 200-day simple moving average is $44.54.

WSFS Financial (NASDAQ:WSFSGet Rating) last posted its earnings results on Monday, July 25th. The bank reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.10. WSFS Financial had a return on equity of 9.91% and a net margin of 23.44%. During the same quarter last year, the firm earned $2.00 EPS. Equities research analysts expect that WSFS Financial will post 4.33 earnings per share for the current year.

WSFS Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Friday, August 5th were given a $0.15 dividend. This is a positive change from WSFS Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $0.60 annualized dividend and a yield of 1.23%. WSFS Financial’s payout ratio is currently 18.07%.

Insiders Place Their Bets

In other news, Director Francis J. Leto sold 3,087 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $49.76, for a total value of $153,609.12. Following the sale, the director now owns 36,241 shares of the company’s stock, valued at $1,803,352.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Francis J. Leto sold 3,087 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $49.76, for a total value of $153,609.12. Following the sale, the director now owns 36,241 shares of the company’s stock, valued at $1,803,352.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Richard Wright sold 3,740 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $49.66, for a total transaction of $185,728.40. Following the completion of the sale, the executive vice president now directly owns 38,456 shares in the company, valued at approximately $1,909,724.96. The disclosure for this sale can be found here. Insiders own 1.73% of the company’s stock.

Institutional Investors Weigh In On WSFS Financial

Institutional investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd purchased a new position in WSFS Financial during the 4th quarter valued at about $32,000. Quadrant Capital Group LLC increased its holdings in WSFS Financial by 1,032.3% during the 1st quarter. Quadrant Capital Group LLC now owns 702 shares of the bank’s stock valued at $33,000 after purchasing an additional 640 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of WSFS Financial during the 1st quarter worth approximately $40,000. SouthState Corp purchased a new position in shares of WSFS Financial during the 2nd quarter worth approximately $40,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of WSFS Financial by 253.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,366 shares of the bank’s stock worth $55,000 after purchasing an additional 980 shares in the last quarter. Hedge funds and other institutional investors own 88.34% of the company’s stock.

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.

See Also

Receive News & Ratings for WSFS Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WSFS Financial and related companies with MarketBeat.com's FREE daily email newsletter.