WSFS Financial (WSFS) Upgraded by Zacks Investment Research to “Strong-Buy”
Zacks Investment Research upgraded shares of WSFS Financial (NASDAQ:WSFS) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday. They currently have $56.00 price objective on the bank’s stock.
According to Zacks, “WSFS Financial Corporation is a thrift holding company. WSFS provides residential and commercial real estate, commercial and consumer lending services, as well as cash management services funding these activities primarily with retail deposits and borrowings. “
Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded WSFS Financial from a buy rating to a hold rating in a report on Saturday, December 9th. Keefe, Bruyette & Woods restated a hold rating and set a $50.00 price objective on shares of WSFS Financial in a report on Tuesday, October 24th. ValuEngine downgraded WSFS Financial from a buy rating to a hold rating in a report on Saturday, November 25th. Finally, Boenning Scattergood restated a buy rating on shares of WSFS Financial in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $52.50.
Shares of WSFS Financial (NASDAQ WSFS) opened at $48.15 on Wednesday. The company has a market capitalization of $1,520.00, a P/E ratio of 19.90, a PEG ratio of 1.93 and a beta of 1.24. WSFS Financial has a 1-year low of $42.45 and a 1-year high of $52.50. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.26.
WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Monday, October 23rd. The bank reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.01). The firm had revenue of $87.80 million for the quarter, compared to the consensus estimate of $56.86 million. WSFS Financial had a net margin of 21.27% and a return on equity of 10.93%. The company’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 EPS. sell-side analysts expect that WSFS Financial will post 2.53 EPS for the current year.
In related news, EVP Patrick Joseph Ward sold 2,070 shares of WSFS Financial stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $48.52, for a total transaction of $100,436.40. Following the transaction, the executive vice president now 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 SEC, which can be accessed through this link. Also, EVP S James Mazarakis sold 1,868 shares of WSFS Financial stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 42,995 shares in the company, valued at approximately $2,213,812.55. The disclosure for this sale can be found here. 4.89% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. boosted its position in WSFS Financial by 10.7% in the second quarter. Ameritas Investment Partners Inc. now owns 2,653 shares of the bank’s stock worth $120,000 after purchasing an additional 256 shares during the last quarter. Victory Capital Management Inc. boosted its position in WSFS Financial by 17.6% in the second quarter. Victory Capital Management Inc. now owns 3,977 shares of the bank’s stock worth $180,000 after purchasing an additional 596 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in WSFS Financial by 601.4% in the second quarter. BNP Paribas Arbitrage SA now owns 4,005 shares of the bank’s stock worth $182,000 after purchasing an additional 3,434 shares during the last quarter. Brown Advisory Securities LLC purchased a new position in WSFS Financial in the third quarter worth $234,000. Finally, Laurion Capital Management LP purchased a new position in WSFS Financial in the second quarter worth $274,000. 80.48% of the stock is currently owned by institutional investors.
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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