Other equities research analysts also recently issued research reports about the stock. Piper Jaffray Companies assumed coverage on shares of WSFS Financial in a research note on Monday, July 15th. They set a neutral rating on the stock. Boenning Scattergood reiterated an outperform rating and set a $47.75 price target on shares of WSFS Financial in a research note on Thursday, June 20th. Finally, Zacks Investment Research downgraded shares of WSFS Financial from a hold rating to a sell rating in a research note on Sunday, September 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. WSFS Financial currently has a consensus rating of Hold and an average price target of $49.38.
WSFS opened at $45.39 on Friday. WSFS Financial has a fifty-two week low of $33.75 and a fifty-two week high of $49.40. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.94. The firm’s fifty day moving average price is $42.07 and its two-hundred day moving average price is $41.45. The company has a market capitalization of $2.42 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.05 and a beta of 1.12.
WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings results on Monday, July 22nd. The bank reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.13. WSFS Financial had a net margin of 21.06% and a return on equity of 10.98%. The firm had revenue of $166.10 million for the quarter, compared to the consensus estimate of $157.52 million. On average, equities research analysts expect that WSFS Financial will post 3.63 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.06%. WSFS Financial’s dividend payout ratio is currently 13.52%.
In other WSFS Financial news, EVP Richard Wright sold 8,026 shares of WSFS Financial stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $44.61, for a total transaction of $358,039.86. Following the completion of the transaction, the executive vice president now directly owns 60,851 shares of the company’s stock, valued at $2,714,563.11. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick Joseph Ward sold 15,962 shares of WSFS Financial stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $41.95, for a total value of $669,605.90. Following the transaction, the executive vice president now directly owns 115,729 shares of the company’s stock, valued at $4,854,831.55. The disclosure for this sale can be found here. Insiders have sold 148,165 shares of company stock worth $6,157,398 in the last quarter. Corporate insiders own 2.42% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of WSFS. FMR LLC lifted its holdings in shares of WSFS Financial by 92.6% during the first quarter. FMR LLC now owns 2,497,363 shares of the bank’s stock valued at $96,399,000 after acquiring an additional 1,200,476 shares during the period. Vanguard Group Inc. lifted its holdings in shares of WSFS Financial by 28.4% during the second quarter. Vanguard Group Inc. now owns 4,789,200 shares of the bank’s stock valued at $197,793,000 after acquiring an additional 1,060,282 shares during the period. Invesco Ltd. lifted its holdings in shares of WSFS Financial by 3,264.0% during the second quarter. Invesco Ltd. now owns 1,061,109 shares of the bank’s stock valued at $43,824,000 after acquiring an additional 1,029,566 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of WSFS Financial by 105.8% during the second quarter. Nuveen Asset Management LLC now owns 1,353,642 shares of the bank’s stock valued at $55,906,000 after acquiring an additional 695,791 shares during the period. Finally, OppenheimerFunds Inc. lifted its holdings in shares of WSFS Financial by 37.8% during the first quarter. OppenheimerFunds Inc. now owns 1,057,592 shares of the bank’s stock valued at $40,822,000 after acquiring an additional 290,207 shares during the period. 80.87% of the stock is 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. 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.
Further Reading: Limitations of the P/E Growth ratio
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