WSFS Financial (WSFS) Downgraded to Sell at BidaskClub

BidaskClub lowered shares of WSFS Financial (NASDAQ:WSFS) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

A number of other equities research analysts also recently commented on WSFS. ValuEngine downgraded WSFS Financial from a buy rating to a hold rating in a research report on Saturday, November 25th. Boenning Scattergood restated a buy rating on shares of WSFS Financial in a research report on Wednesday, October 25th. Finally, Keefe, Bruyette & Woods restated a hold rating and issued a $50.00 target price on shares of WSFS Financial in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $51.33.

Shares of WSFS Financial (WSFS) opened at $49.50 on Friday. WSFS Financial has a 1 year low of $42.45 and a 1 year high of $52.50. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $1,544.39, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 1.96 and a beta of 1.24.

WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Monday, October 23rd. The bank reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.01). WSFS Financial had a net margin of 21.27% and a return on equity of 10.93%. The business had revenue of $87.80 million during the quarter, compared to analysts’ expectations of $56.86 million. During the same quarter in the prior year, the firm earned $0.41 EPS. WSFS Financial’s revenue for the quarter was up 16.2% compared to the same quarter last year. equities research analysts expect that WSFS Financial will post 2.51 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th were paid a $0.09 dividend. The ex-dividend date of this dividend was Monday, November 6th. This is a boost from WSFS Financial’s previous quarterly dividend of $0.07. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.73%. WSFS Financial’s payout ratio is presently 14.81%.

In other news, EVP Patrick Joseph Ward sold 2,070 shares of WSFS Financial stock in a transaction on Monday, November 20th. The stock was sold at an average price of $48.52, for a total value of $100,436.40. Following the completion of the sale, the executive vice president now directly owns 90,589 shares of the company’s stock, valued at $4,395,378.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP S James Mazarakis sold 1,868 shares of WSFS Financial stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $51.49, for a total value of $96,183.32. Following the completion of the sale, the executive vice president now directly owns 42,995 shares of the company’s stock, valued at $2,213,812.55. The disclosure for this sale can be found here. Insiders own 4.89% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN grew its stake in shares of WSFS Financial by 14.7% in the second quarter. Wells Fargo & Company MN now owns 53,825 shares of the bank’s stock valued at $2,441,000 after buying an additional 6,905 shares in the last quarter. Chatham Capital Group Inc. grew its stake in shares of WSFS Financial by 50.6% in the second quarter. Chatham Capital Group Inc. now owns 23,380 shares of the bank’s stock valued at $1,060,000 after buying an additional 7,855 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of WSFS Financial by 60.6% in the second quarter. Principal Financial Group Inc. now owns 19,505 shares of the bank’s stock valued at $884,000 after buying an additional 7,362 shares in the last quarter. Macquarie Group Ltd. grew its stake in shares of WSFS Financial by 25.1% in the second quarter. Macquarie Group Ltd. now owns 781,288 shares of the bank’s stock valued at $35,431,000 after buying an additional 156,617 shares in the last quarter. Finally, Federated Investors Inc. PA grew its stake in shares of WSFS Financial by 3.8% in the second quarter. Federated Investors Inc. PA now owns 522,628 shares of the bank’s stock valued at $23,700,000 after buying an additional 19,243 shares in the last quarter. 85.04% of the stock is owned by institutional investors and hedge funds.

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WSFS Financial Company Profile

WSFS Financial Corporation is a savings and loan holding company. The Company’s subsidiary is Wilmington Savings Fund Society, FSB (WSFS Bank or the Bank), which is the bank and trust company. It operates in three segments: WSFS Bank, Cash Connect and Wealth Management. The WSFS Bank segment provides loans and other financial products to commercial and retail customers.

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