WSFS Financial Corp. (WSFS) Upgraded to “Hold” at Zacks Investment Research
WSFS Financial Corp. (NASDAQ:WSFS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
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 have also recently commented on WSFS. Stephens initiated coverage on WSFS Financial Corp. in a research report on Friday, September 23rd. They issued an “equal weight” rating for the company. Keefe, Bruyette & Woods upgraded WSFS Financial Corp. from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $37.00 to $38.00 in a research report on Monday, October 31st.
WSFS Financial Corp. (NASDAQ:WSFS) traded up 0.59% during mid-day trading on Wednesday, reaching $42.70. The company’s stock had a trading volume of 10,128 shares. The firm’s 50 day moving average price is $37.38 and its 200 day moving average price is $35.97. WSFS Financial Corp. has a 12-month low of $26.40 and a 12-month high of $43.15. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 21.77 and a beta of 1.17.
WSFS Financial Corp. (NASDAQ:WSFS) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.10. The business earned $46 million during the quarter, compared to analysts’ expectations of $50.03 million. WSFS Financial Corp. had a net margin of 19.56% and a return on equity of 10.75%. The firm’s quarterly revenue was up 54.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 earnings per share. On average, equities analysts predict that WSFS Financial Corp. will post $2.11 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 25th. Investors of record on Friday, November 11th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.66%. This is a boost from WSFS Financial Corp.’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Tuesday, November 8th. WSFS Financial Corp.’s payout ratio is presently 14.21%.
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In related news, EVP Paul D. Geraghty sold 3,772 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $40.53, for a total transaction of $152,879.16. Following the completion of the sale, the executive vice president now directly owns 31,699 shares in the company, valued at $1,284,760.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas W. Kearney sold 7,625 shares of the business’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $35.40, for a total value of $269,925.00. Following the transaction, the insider now directly owns 6,974 shares in the company, valued at approximately $246,879.60. The disclosure for this sale can be found here. Corporate insiders own 4.17% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company bought a new position in WSFS Financial Corp. during the third quarter worth $22,787,000. Ameriprise Financial Inc. raised its position in WSFS Financial Corp. by 191.6% in the third quarter. Ameriprise Financial Inc. now owns 638,056 shares of the company’s stock worth $23,283,000 after buying an additional 419,208 shares during the period. Aberdeen Asset Management PLC UK raised its position in WSFS Financial Corp. by 48.5% in the second quarter. Aberdeen Asset Management PLC UK now owns 701,736 shares of the company’s stock worth $22,588,000 after buying an additional 229,167 shares during the period. Jennison Associates LLC raised its position in WSFS Financial Corp. by 669.8% in the third quarter. Jennison Associates LLC now owns 120,868 shares of the company’s stock worth $4,410,000 after buying an additional 105,166 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in WSFS Financial Corp. by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,021,527 shares of the company’s stock worth $32,882,000 after buying an additional 85,811 shares during the period. 74.21% of the stock is currently owned by institutional investors.
About WSFS Financial Corp.
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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