WSFS Financial (WSFS) Stock Rating Lowered by Zacks Investment Research

WSFS Financial (NASDAQ:WSFS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Saturday.

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. “

WSFS has been the topic of several other research reports. Boenning Scattergood reissued a “buy” rating on shares of WSFS Financial in a report on Monday, December 10th. BidaskClub raised WSFS Financial from a “sell” rating to a “hold” rating in a report on Friday, January 4th. ValuEngine lowered WSFS Financial from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Finally, Keefe, Bruyette & Woods raised WSFS Financial from a “market perform” rating to an “outperform” rating in a report on Wednesday, October 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $59.67.

NASDAQ:WSFS opened at $40.21 on Friday. The firm has a market capitalization of $1.26 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 0.92 and a beta of 1.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.98 and a current ratio of 0.99. WSFS Financial has a 12 month low of $33.75 and a 12 month high of $57.70.

WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Monday, October 22nd. The bank reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $105.00 million for the quarter, compared to analyst estimates of $100.42 million. WSFS Financial had a return on equity of 14.12% and a net margin of 23.83%. Analysts predict that WSFS Financial will post 3.55 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WSFS. Macquarie Group Ltd. boosted its stake in WSFS Financial by 24.0% in the third quarter. Macquarie Group Ltd. now owns 1,318,296 shares of the bank’s stock valued at $62,158,000 after acquiring an additional 255,296 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in WSFS Financial by 22.4% in the third quarter. The Manufacturers Life Insurance Company now owns 1,153,106 shares of the bank’s stock valued at $54,368,000 after acquiring an additional 210,835 shares in the last quarter. BlackRock Inc. boosted its stake in WSFS Financial by 8.4% in the second quarter. BlackRock Inc. now owns 2,141,028 shares of the bank’s stock valued at $114,117,000 after acquiring an additional 165,476 shares in the last quarter. Marshall Wace LLP acquired a new position in WSFS Financial in the third quarter valued at $7,694,000. Finally, Renaissance Technologies LLC boosted its stake in WSFS Financial by 13.5% in the third quarter. Renaissance Technologies LLC now owns 1,331,005 shares of the bank’s stock valued at $62,757,000 after acquiring an additional 158,591 shares in the last quarter. Institutional investors own 85.11% 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.

Read More: What is Cost of Debt?

Get a free copy of the Zacks research report on WSFS Financial (WSFS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for WSFS Financial (NASDAQ:WSFS)

Receive News & Ratings for WSFS Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WSFS Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit