WSFS Financial (NASDAQ:WSFS) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
WSFS has been the subject of several other research reports. Sandler O’Neill reissued a “buy” rating and issued a $63.00 price objective on shares of WSFS Financial in a report on Sunday, August 12th. Zacks Investment Research raised WSFS Financial from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Thursday, July 26th. Boenning Scattergood reissued a “buy” rating on shares of WSFS Financial in a report on Thursday, August 9th. ValuEngine cut WSFS Financial from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Finally, Stephens reissued a “buy” rating and issued a $58.00 price objective on shares of WSFS Financial in a report on Monday, August 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. WSFS Financial currently has a consensus rating of “Hold” and an average target price of $59.67.
Shares of WSFS stock opened at $42.53 on Tuesday. The stock has a market capitalization of $1.32 billion, a PE ratio of 16.81, a P/E/G ratio of 1.02 and a beta of 1.18. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.07. WSFS Financial has a 52-week low of $40.04 and a 52-week high of $57.70.
In related news, CEO Mark A. Turner sold 25,700 shares of the company’s stock in a transaction dated Monday, October 8th. The stock was sold at an average price of $47.81, for a total value of $1,228,717.00. Following the completion of the transaction, the chief executive officer now owns 144,631 shares of the company’s stock, valued at approximately $6,914,808.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard Wright sold 3,096 shares of the company’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $50.36, for a total value of $155,914.56. Following the completion of the transaction, the executive vice president now directly owns 45,265 shares of the company’s stock, valued at approximately $2,279,545.40. The disclosure for this sale can be found here. Insiders sold a total of 156,437 shares of company stock valued at $7,936,487 in the last ninety days. 5.73% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Frontier Capital Management Co. LLC raised its holdings in WSFS Financial by 7.9% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 449,473 shares of the bank’s stock worth $21,193,000 after purchasing an additional 32,875 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of WSFS Financial during the third quarter valued at approximately $380,000. Congress Asset Management Co. MA raised its holdings in shares of WSFS Financial by 10.0% during the third quarter. Congress Asset Management Co. MA now owns 38,138 shares of the bank’s stock valued at $1,798,000 after acquiring an additional 3,455 shares during the last quarter. Sawtooth Solutions LLC acquired a new position in shares of WSFS Financial during the third quarter valued at approximately $410,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of WSFS Financial by 87.8% during the third quarter. Russell Investments Group Ltd. now owns 43,402 shares of the bank’s stock valued at $2,046,000 after acquiring an additional 20,291 shares during the last quarter. 78.63% of the stock is owned by institutional investors.
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. The company offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as jumbo certificates of deposit.
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