WSFS Financial (NASDAQ:WSFS) Rating Lowered to “Hold” at DA Davidson

WSFS Financial (NASDAQ:WSFS) was downgraded by research analysts at DA Davidson from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other brokerages have also recently weighed in on WSFS. TD Cowen assumed coverage on shares of WSFS Financial in a research report on Thursday, September 25th. They issued a “buy” rating and a $67.00 price target for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of WSFS Financial in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.25.

WSFS Financial Price Performance

Shares of WSFS opened at $52.65 on Monday. The company has a 50 day moving average price of $55.36 and a 200-day moving average price of $54.13. WSFS Financial has a fifty-two week low of $42.44 and a fifty-two week high of $62.75. The stock has a market capitalization of $2.95 billion, a PE ratio of 11.55 and a beta of 0.86. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.83 and a current ratio of 0.84.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings results on Tuesday, May 3rd. The bank reported $1.39 earnings per share for the quarter. WSFS Financial had a net margin of 19.29% and a return on equity of 10.15%. The firm had revenue of $161.68 million during the quarter. Equities analysts predict that WSFS Financial will post 4.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On WSFS Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of WSFS. Norges Bank acquired a new position in WSFS Financial during the 2nd quarter valued at approximately $36,860,000. Boston Partners acquired a new position in WSFS Financial during the 1st quarter valued at approximately $17,668,000. Nuveen LLC acquired a new position in WSFS Financial during the 1st quarter valued at approximately $12,090,000. Edgestream Partners L.P. acquired a new position in WSFS Financial during the 2nd quarter valued at approximately $8,834,000. Finally, Cooke & Bieler LP increased its stake in WSFS Financial by 14.0% during the 1st quarter. Cooke & Bieler LP now owns 892,286 shares of the bank’s stock valued at $46,283,000 after purchasing an additional 109,519 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

WSFS Financial Company Profile

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.