WSFS Financial (WSFS) Cut to “Strong Sell” at BidaskClub

BidaskClub cut shares of WSFS Financial (NASDAQ:WSFS) from a sell rating to a strong sell rating in a research note issued to investors on Saturday.

WSFS has been the subject of several other reports. Zacks Investment Research cut WSFS Financial from a strong-buy rating to a hold rating in a report on Saturday, December 30th. Boenning Scattergood restated a buy rating on shares of WSFS Financial in a report on Wednesday, October 25th. Keefe, Bruyette & Woods restated a hold rating and issued a $50.00 target price on shares of WSFS Financial in a report on Tuesday, October 24th. Finally, ValuEngine cut WSFS Financial from a buy rating to a hold rating in a report on Saturday, November 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $52.50.

Shares of WSFS Financial (NASDAQ WSFS) traded down $0.05 during trading hours on Friday, reaching $48.05. The company’s stock had a trading volume of 79,140 shares, compared to its average volume of 80,404. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.26. The stock has a market cap of $1,508.29, a PE ratio of 19.86, a P/E/G ratio of 1.59 and a beta of 1.23. WSFS Financial has a 12 month low of $42.45 and a 12 month high of $52.50.

WSFS Financial (NASDAQ:WSFS) last issued its earnings results on Monday, October 23rd. The bank reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.01). The company had revenue of $87.80 million during the quarter, compared to analysts’ expectations of $56.86 million. WSFS Financial had a net margin of 21.27% and a return on equity of 10.93%. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 earnings per share. analysts predict that WSFS Financial will post 2.51 EPS for the current year.

In other news, EVP Patrick Joseph Ward sold 2,070 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 90,589 shares in the company, valued at approximately $4,395,378.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP S James Mazarakis sold 1,868 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $51.49, for a total value of $96,183.32. Following the transaction, the executive vice president now owns 42,995 shares of the company’s stock, valued at $2,213,812.55. The disclosure for this sale can be found here. Corporate insiders own 4.89% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WSFS. Ameritas Investment Partners Inc. lifted its stake in WSFS Financial by 10.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,653 shares of the bank’s stock worth $120,000 after acquiring an additional 256 shares in the last quarter. Victory Capital Management Inc. lifted its stake in WSFS Financial by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,977 shares of the bank’s stock worth $180,000 after acquiring an additional 596 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in WSFS Financial by 601.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,005 shares of the bank’s stock worth $182,000 after acquiring an additional 3,434 shares in the last quarter. Brown Advisory Securities LLC acquired a new position in WSFS Financial during the 3rd quarter worth about $234,000. Finally, Laurion Capital Management LP acquired a new position in WSFS Financial during the 2nd quarter worth about $274,000. Institutional investors and hedge funds own 80.48% of the company’s stock.

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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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