WSFS Financial (NASDAQ:WSFS) Shares Gap Down – Here’s Why

WSFS Financial Co. (NASDAQ:WSFS)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $52.15, but opened at $48.64. WSFS Financial shares last traded at $51.71, with a volume of 27,081 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Stephens reiterated an “overweight” rating and issued a $68.00 target price on shares of WSFS Financial in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods increased their target price on WSFS Financial from $64.00 to $68.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.75.

WSFS Financial Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.86. The business’s 50 day moving average price is $50.93 and its 200 day moving average price is $53.60. The stock has a market capitalization of $3.00 billion, a P/E ratio of 11.69 and a beta of 0.90.

WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Thursday, April 24th. The bank reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. The business had revenue of $256.11 million during the quarter, compared to the consensus estimate of $235.44 million. WSFS Financial had a net margin of 18.77% and a return on equity of 10.30%. Sell-side analysts forecast that WSFS Financial Co. will post 4.47 EPS for the current year.

WSFS Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.32%. This is a boost from WSFS Financial’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, May 9th. WSFS Financial’s dividend payout ratio (DPR) is presently 15.28%.

Insider Activity

In related news, CEO Rodger Levenson sold 7,199 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $55.20, for a total value of $397,384.80. Following the transaction, the chief executive officer now directly owns 142,780 shares of the company’s stock, valued at approximately $7,881,456. This trade represents a 4.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.29% of the company’s stock.

Institutional Trading of WSFS Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of WSFS. KBC Group NV grew its stake in shares of WSFS Financial by 6.8% during the 1st quarter. KBC Group NV now owns 3,081 shares of the bank’s stock valued at $160,000 after acquiring an additional 196 shares during the period. Mariner LLC boosted its position in shares of WSFS Financial by 5.1% in the fourth quarter. Mariner LLC now owns 4,457 shares of the bank’s stock worth $237,000 after purchasing an additional 215 shares during the period. Versant Capital Management Inc increased its stake in shares of WSFS Financial by 90.0% in the first quarter. Versant Capital Management Inc now owns 532 shares of the bank’s stock worth $28,000 after purchasing an additional 252 shares in the last quarter. LPL Financial LLC raised its position in shares of WSFS Financial by 1.2% during the 4th quarter. LPL Financial LLC now owns 21,060 shares of the bank’s stock valued at $1,119,000 after purchasing an additional 257 shares during the period. Finally, HighTower Advisors LLC lifted its stake in shares of WSFS Financial by 6.5% during the 4th quarter. HighTower Advisors LLC now owns 4,762 shares of the bank’s stock valued at $253,000 after buying an additional 290 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

About WSFS Financial

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.