WSFS Financial (NASDAQ:WSFS) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of WSFS Financial (NASDAQ:WSFS) from a hold rating to a sell rating in a research report released on Friday morning.

Other research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods decreased their target price on shares of WSFS Financial from $66.00 to $64.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. Stephens restated an “overweight” rating and issued a $64.00 target price on shares of WSFS Financial in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $62.75.

WSFS Financial Price Performance

WSFS Financial stock opened at $53.00 on Friday. WSFS Financial has a 52-week low of $42.21 and a 52-week high of $62.75. The firm has a fifty day moving average of $51.30 and a 200-day moving average of $53.87. The firm has a market capitalization of $3.01 billion, a P/E ratio of 11.99 and a beta of 0.86. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.15.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Thursday, April 24th. The bank reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.09. The company had revenue of $256.11 million during the quarter, compared to analyst estimates of $235.44 million. WSFS Financial had a net margin of 18.77% and a return on equity of 10.30%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.11 earnings per share. As a group, analysts predict that WSFS Financial will post 4.47 EPS for the current year.

WSFS Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.28%. This is an increase from WSFS Financial’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, May 9th. WSFS Financial’s dividend payout ratio is 15.28%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its stake in WSFS Financial by 90.0% during the 1st quarter. Versant Capital Management Inc now owns 532 shares of the bank’s stock valued at $28,000 after acquiring an additional 252 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in WSFS Financial by 2,500.0% during the 4th quarter. Farther Finance Advisors LLC now owns 572 shares of the bank’s stock valued at $30,000 after acquiring an additional 550 shares during the last quarter. Crowley Wealth Management Inc. bought a new position in WSFS Financial during the 4th quarter valued at $32,000. CWM LLC boosted its stake in WSFS Financial by 72.7% during the 1st quarter. CWM LLC now owns 701 shares of the bank’s stock valued at $36,000 after acquiring an additional 295 shares during the last quarter. Finally, VSM Wealth Advisory LLC bought a new position in WSFS Financial during the 4th quarter valued at $40,000. 88.49% of the stock is currently owned by institutional investors.

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. 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 accepts jumbo certificates of deposit from individuals, businesses, and municipalities.