WSFS Financial (NASDAQ:WSFS) Cut to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded WSFS Financial from a "strong-buy" to a "hold," though analyst coverage remains mixed (four Buy, four Hold) with a consensus target price of $70.58.
• Recent results: WSFS beat EPS expectations ($1.43 vs. $1.26) and reported revenue of $90.08M (up 4% YoY); the stock trades near $65.46 with a $3.45B market cap and a P/E of 12.84.
• Insider activity and ownership: Executives sold 3,455 shares (~$242,923) over the last quarter, insiders own 1.21% of shares while institutional investors hold 88.49%.

WSFS Financial (NASDAQ:WSFS - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also recently weighed in on WSFS. TD Cowen reaffirmed a "buy" rating on shares of WSFS Financial in a research note on Wednesday, January 28th. Brean Capital assumed coverage on WSFS Financial in a report on Tuesday, March 10th. They issued a "buy" rating and a $74.50 target price on the stock. Keefe, Bruyette & Woods upped their price target on WSFS Financial from $63.00 to $70.00 and gave the stock a "market perform" rating in a research note on Thursday, January 29th. Weiss Ratings reiterated a "buy (b-)" rating on shares of WSFS Financial in a research report on Wednesday, January 21st. Finally, Stephens restated an "overweight" rating and set a $71.00 price objective (up from $66.00) on shares of WSFS Financial in a research report on Wednesday, January 28th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, WSFS Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.58.

WSFS Financial Stock Performance

Shares of WSFS stock opened at $65.46 on Monday. The company has a market cap of $3.45 billion, a P/E ratio of 12.84 and a beta of 0.76. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average price of $64.72 and a 200 day moving average price of $58.44. WSFS Financial has a 12 month low of $42.44 and a 12 month high of $71.32.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last posted its earnings results on Monday, January 26th. The bank reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.17. WSFS Financial had a net margin of 21.14% and a return on equity of 10.89%. The firm had revenue of $90.08 million for the quarter, compared to the consensus estimate of $267.36 million. During the same period last year, the firm posted $1.11 EPS. The company's revenue was up 4.0% on a year-over-year basis. Sell-side analysts predict that WSFS Financial will post 4.47 earnings per share for the current fiscal year.

Insider Activity at WSFS Financial

In other news, EVP Arthur J. Bacci sold 2,005 shares of WSFS Financial stock in a transaction on Monday, February 9th. The stock was sold at an average price of $70.51, for a total value of $141,372.55. Following the completion of the sale, the executive vice president owned 26,366 shares of the company's stock, valued at $1,859,066.66. The trade was a 7.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Shari Kruzinski sold 1,000 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $70.10, for a total value of $70,100.00. Following the transaction, the executive vice president owned 14,740 shares in the company, valued at $1,033,274. This trade represents a 6.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,455 shares of company stock valued at $242,923 over the last quarter. Insiders own 1.21% of the company's stock.

Hedge Funds Weigh In On WSFS Financial

A number of large investors have recently bought and sold shares of WSFS. Parkside Financial Bank & Trust boosted its holdings in WSFS Financial by 11.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,598 shares of the bank's stock valued at $88,000 after acquiring an additional 163 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of WSFS Financial by 0.3% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 68,460 shares of the bank's stock worth $3,782,000 after purchasing an additional 198 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of WSFS Financial by 7.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,817 shares of the bank's stock valued at $152,000 after purchasing an additional 203 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of WSFS Financial by 7.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,263 shares of the bank's stock worth $177,000 after purchasing an additional 218 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in WSFS Financial by 23.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the bank's stock worth $63,000 after purchasing an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.

WSFS Financial Company Profile

WSFS Financial Corporation is the bank holding company for WSFS Bank, a regional financial institution headquartered in Wilmington, Delaware. The company traces its roots to the Safe Deposit & Trust Company, founded in 1832, and formally organized as WSFS Financial in the mid-1980s. Over its long history, WSFS has grown through a combination of organic expansion and selective acquisitions to serve a broad base of individual, commercial and institutional clients.

WSFS Bank offers a full suite of banking and financial services, including retail and commercial deposit accounts, commercial and industrial lending, real estate financing, and treasury management solutions.

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