WSFS Financial (NASDAQ:WSFS) Rating Lowered to Strong Sell at ValuEngine

ValuEngine downgraded shares of WSFS Financial (NASDAQ:WSFS) from a sell rating to a strong sell rating in a research report report published on Tuesday, ValuEngine reports.

WSFS has been the topic of several other research reports. Zacks Investment Research restated a hold rating on shares of WSFS Financial in a report on Saturday, October 26th. Keefe, Bruyette & Woods downgraded shares of WSFS Financial from an outperform rating to a market perform rating and set a $46.00 price objective on the stock. in a report on Wednesday, October 23rd. Piper Jaffray Companies assumed coverage on shares of WSFS Financial in a report on Monday, July 15th. They set a neutral rating on the stock. Finally, BidaskClub downgraded shares of WSFS Financial from a buy rating to a hold rating in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. WSFS Financial currently has an average rating of Hold and an average target price of $48.25.

NASDAQ WSFS traded up $0.07 on Tuesday, hitting $44.44. 112,000 shares of the company were exchanged, compared to its average volume of 245,281. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average of $43.66 and a 200-day moving average of $42.16. WSFS Financial has a 12 month low of $33.75 and a 12 month high of $46.05. The company has a market cap of $2.33 billion, a PE ratio of 12.52 and a beta of 1.09.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Monday, October 21st. The bank reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.07. WSFS Financial had a net margin of 20.56% and a return on equity of 11.13%. The firm had revenue of $183.18 million for the quarter, compared to the consensus estimate of $158.75 million. On average, analysts expect that WSFS Financial will post 3.66 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.48 annualized dividend and a yield of 1.08%. WSFS Financial’s payout ratio is 13.52%.

In other news, EVP Patrick Joseph Ward sold 15,962 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $41.95, for a total value of $669,605.90. Following the completion of the sale, the executive vice president now owns 115,729 shares in the company, valued at $4,854,831.55. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark A. Turner sold 124,177 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $41.31, for a total transaction of $5,129,751.87. Following the completion of the sale, the director now owns 161,779 shares of the company’s stock, valued at approximately $6,683,090.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,165 shares of company stock worth $6,157,398. Corporate insiders own 2.42% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of WSFS Financial by 28.4% in the second quarter. Vanguard Group Inc. now owns 4,789,200 shares of the bank’s stock valued at $197,793,000 after purchasing an additional 1,060,282 shares during the last quarter. BlackRock Inc. raised its holdings in shares of WSFS Financial by 3.3% in the second quarter. BlackRock Inc. now owns 3,808,945 shares of the bank’s stock valued at $157,308,000 after purchasing an additional 123,383 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of WSFS Financial by 5.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,556,105 shares of the bank’s stock valued at $146,867,000 after purchasing an additional 171,092 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of WSFS Financial by 105.8% in the second quarter. Nuveen Asset Management LLC now owns 1,353,642 shares of the bank’s stock valued at $55,906,000 after purchasing an additional 695,791 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of WSFS Financial by 3,264.0% in the second quarter. Invesco Ltd. now owns 1,061,109 shares of the bank’s stock valued at $43,824,000 after purchasing an additional 1,029,566 shares during the last quarter. Institutional investors own 80.92% 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. 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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