WSFS Financial (NASDAQ:WSFS) Downgraded to "Hold" Rating by DA Davidson

Key Points

• WSFS Financial was downgraded from a "strong-buy" to a "hold" rating by DA Davidson, reflecting a shift in analyst sentiment.
• Despite the downgrade, three analysts maintain a buy rating, with an average target price of $66.25 for the stock.
• WSFS Financial's stock opened at $52.58 on Monday, with institutional investors holding approximately 88.49% of the company's shares.

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

A number of other brokerages have also issued reports on WSFS. TD Cowen started coverage on WSFS Financial in a research report on Thursday, September 25th. They issued a "buy" rating and a $67.00 target price on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of WSFS Financial in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $66.25.

WSFS Financial Trading Up 2.4%

Shares of WSFS Financial stock opened at $52.58 on Monday. The stock has a market cap of $2.94 billion, a P/E ratio of 11.53 and a beta of 0.86. The stock's 50 day simple moving average is $55.41 and its 200-day simple moving average is $54.14. WSFS Financial has a 1-year low of $42.44 and a 1-year high of $62.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.83.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last released its quarterly earnings data on Tuesday, May 3rd. The bank reported $1.39 EPS for the quarter. The firm had revenue of $161.68 million for the quarter. WSFS Financial had a return on equity of 10.15% and a net margin of 19.29%. Analysts predict that WSFS Financial will post 4.47 EPS for the current fiscal year.

Institutional Investors Weigh In On WSFS Financial

Hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in WSFS Financial during the second quarter worth about $36,860,000. Boston Partners purchased a new position in shares of WSFS Financial during the 1st quarter worth approximately $17,668,000. Nuveen LLC acquired a new stake in WSFS Financial during the first quarter worth approximately $12,090,000. Edgestream Partners L.P. acquired a new stake in WSFS Financial during the second quarter worth approximately $8,834,000. Finally, Cooke & Bieler LP boosted its position in WSFS Financial by 14.0% during the first quarter. Cooke & Bieler LP now owns 892,286 shares of the bank's stock worth $46,283,000 after acquiring an additional 109,519 shares during the last quarter. Institutional investors and hedge funds own 88.49% 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. 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.

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