WSFS Financial Corp. (WSFS) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of WSFS Financial Corp. (NASDAQ:WSFS) from a buy rating to a hold rating in a report published on Thursday.

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. “

A number of other analysts also recently issued reports on WSFS. Keefe, Bruyette & Woods raised their price target on WSFS Financial Corp. from $36.00 to $37.00 and gave the stock a market perform rating in a research report on Monday, August 1st. Stephens started coverage on WSFS Financial Corp. in a research report on Friday, September 23rd. They issued an equal weight rating for the company.

WSFS Financial Corp. (NASDAQ:WSFS) traded up 0.77% during midday trading on Thursday, reaching $36.54. 69,052 shares of the company were exchanged. WSFS Financial Corp. has a 52 week low of $26.40 and a 52 week high of $39.31. The company has a 50-day moving average of $37.33 and a 200 day moving average of $34.80. The firm has a market capitalization of $1.08 billion, a PE ratio of 17.64 and a beta of 1.36.

WSFS Financial Corp. (NASDAQ:WSFS) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The company earned $46.41 million during the quarter, compared to the consensus estimate of $46.64 million. WSFS Financial Corp. had a return on equity of 11.78% and a net margin of 21.20%. WSFS Financial Corp.’s revenue was up 18.7% on a year-over-year basis. During the same period last year, the company earned $0.43 earnings per share. Equities analysts predict that WSFS Financial Corp. will post $2.20 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 19th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $0.24 annualized dividend and a dividend yield of 0.66%. WSFS Financial Corp.’s dividend payout ratio (DPR) is 11.59%.

In other news, EVP Stephen P. Clark sold 7,269 shares of WSFS Financial Corp. stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $36.03, for a total transaction of $261,902.07. Following the completion of the sale, the executive vice president now directly owns 15,689 shares in the company, valued at $565,274.67. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.17% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Societe Generale acquired a new stake in WSFS Financial Corp. during the second quarter valued at $109,000. SG Americas Securities LLC acquired a new stake in WSFS Financial Corp. during the second quarter valued at $109,000. Teacher Retirement System of Texas increased its stake in WSFS Financial Corp. by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 3,965 shares of the company’s stock valued at $128,000 after buying an additional 483 shares during the period. Legal & General Group Plc increased its stake in WSFS Financial Corp. by 15.5% in the first quarter. Legal & General Group Plc now owns 4,605 shares of the company’s stock valued at $151,000 after buying an additional 618 shares during the period. Finally, Huntington Asset Advisors Inc. acquired a new stake in WSFS Financial Corp. during the first quarter valued at $167,000. Institutional investors and hedge funds own 77.28% of the company’s stock.

WSFS Financial Corp. 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. The Company 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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