WSFS Financial (NASDAQ:WSFS) downgraded by StockNews.com to “Sell”

WSFS Financial (NASDAQ:WSFS – Get an Assessment) was downgraded by StockNews.com investment analysts from a “hold” rating to a “sell” rating in a research report released Tuesday to clients and investors.

Several other stock analysts have also recently weighed in on the company. DA Davidson raised his target price on WSFS Financial to $52.00 in a Tuesday, August 9 research report. Piper Sandler raised her price target on WSFS Financial to $58.00 and gave the company an “outperform” rating in a Wednesday, July 27 research report. One investment analyst gave the stock a sell rating, three gave the company a hold rating and one gave the company a buy rating. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $54.50.

WSFS Financial Stock Performance

Shares of WSFS Financial traded down $1.00 midday Tuesday, hitting $48.75. 330,675 shares of the company were traded, against an average volume of 357,802. The company has a market capitalization of $3.09 billion, a PE ratio of 14.68 and a beta of 1.10. WSFS Financial has a fifty-two-week low of $37.03 and a fifty-two-week high of $56.30. The company has a fifty-day simple moving average of $46.47 and a two-hundred-day simple moving average of $44.54. The company has a debt ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.76.

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WSFS Financial (NASDAQ:WSFS – Get Rating) last released its quarterly results on Monday, July 25. The bank reported earnings per share (EPS) of $1.02 for the quarter, beating consensus analyst estimates of $0.92 by $0.10. WSFS Financial had a return on equity of 9.91% and a net margin of 23.44%. During the same quarter of the previous year, the company achieved EPS of $2.00. On average, sell-side analysts expect WSFS Financial to post earnings per share of 4.33 for the current year.

Insiders place their bets

In other news, Director Francis J. Leto sold 3,087 shares of WSFS Financial in a trade on Thursday, August 11. The stock was sold at an average price of $49.76, for a total value of $153,609.12. Following the completion of the sale, the director now directly owns 36,241 shares of the company, valued at $1,803,352.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Francis J. Leto sold 3,087 shares of WSFS Financial in a trade on Thursday, August 11. The stock was sold at an average price of $49.76, for a total value of $153,609.12. Following the completion of the sale, the director now directly owns 36,241 shares of the company, valued at $1,803,352.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Additionally, Executive Vice President Richard Wright sold 3,740 shares of WSFS Financial in a trade on Thursday, August 11. The shares were sold at an average price of $49.66, for a total value of $185,728.40. Following the completion of the sale, the executive vice president now directly owns 38,456 shares of the company, valued at $1,909,724.96. The disclosure of this sale can be found here. 1.73% of the shares are held by insiders.

Institutional entries and exits

A number of hedge funds and other institutional investors have been buying and selling stocks recently. Captrust Financial Advisors increased its stake in WSFS Financial by 5.5% in the second quarter. Captrust Financial Advisors now owns 7,427 shares of the bank valued at $298,000 after buying an additional 390 shares during the period. Goldman Sachs Group Inc. increased its stake in WSFS Financial by 82.4% during the second quarter. Goldman Sachs Group Inc. now owns 363,127 shares of the bank worth $14,558,000 after buying an additional 164,080 shares in the last quarter. Jane Street Group LLC increased its stake in WSFS Financial by 1,075.3% during Q2. Jane Street Group LLC now owns 51,571 shares of the bank worth $2,067,000 after purchasing an additional 47,183 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in WSFS Financial by 19.3% during Q2. Thrivent Financial for Lutherans now owns 63,599 shares of the bank worth $2,550,000 after purchasing an additional 10,294 shares in the last quarter. Finally, Crawford Investment Counsel Inc. increased its stake in WSFS Financial by 3.2% during the second quarter. Crawford Investment Counsel Inc. now owns 101,782 shares of the bank worth $4,080,000 after buying 3,120 additional shares in the last quarter. 88.34% of the shares are currently held by hedge funds and other institutional investors.

About WSFS Financial

(Get an assessment)

WSFS Financial Corporation operates as a savings and loan holding company for the Wilmington Savings Fund Society, FSB, which provides various banking services in the United States. It operates through three segments: WSFS Bank, Cash Connect and Wealth Management. It 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 from individuals, d businesses and municipalities.

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