WSFS Financial (NASDAQ:WSFS) Lowered to Sell Rating by Wall Street Zen

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

WSFS has been the subject of a number of other reports. Stephens reaffirmed an "overweight" rating and set a $64.00 price target on shares of WSFS Financial in a report on Monday, April 28th. Keefe, Bruyette & Woods dropped their target price on shares of WSFS Financial from $66.00 to $64.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $62.75.

WSFS Financial Stock Down 1.6%

Shares of WSFS traded down $0.87 during midday trading on Friday, hitting $52.28. The company had a trading volume of 83,577 shares, compared to its average volume of 322,070. The company's 50-day simple moving average is $51.29 and its 200-day simple moving average is $53.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.83. WSFS Financial has a 1 year low of $42.21 and a 1 year high of $62.75. The firm has a market capitalization of $2.97 billion, a P/E ratio of 11.83 and a beta of 0.86.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.09. WSFS Financial had a return on equity of 10.30% and a net margin of 18.77%. The company had revenue of $256.11 million for the quarter, compared to analysts' expectations of $235.44 million. During the same period last year, the firm earned $1.11 earnings per share. WSFS Financial's quarterly revenue was up 1.7% on a year-over-year basis. As a group, sell-side analysts expect that WSFS Financial will post 4.47 EPS for the current year.

WSFS Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a $0.17 dividend. This is an increase from WSFS Financial's previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Friday, May 9th. WSFS Financial's dividend payout ratio is 15.28%.

Hedge Funds Weigh In On WSFS Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC boosted its holdings in shares of WSFS Financial by 110.8% during the third quarter. Barclays PLC now owns 120,397 shares of the bank's stock worth $6,139,000 after acquiring an additional 63,284 shares during the period. KBC Group NV raised its stake in WSFS Financial by 68.4% during the fourth quarter. KBC Group NV now owns 2,885 shares of the bank's stock worth $153,000 after acquiring an additional 1,172 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in shares of WSFS Financial by 2.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 59,136 shares of the bank's stock worth $3,142,000 after acquiring an additional 1,578 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of WSFS Financial by 10.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 227,926 shares of the bank's stock valued at $12,110,000 after purchasing an additional 21,990 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of WSFS Financial by 3.6% during the fourth quarter. Principal Financial Group Inc. now owns 317,254 shares of the bank's stock worth $16,856,000 after buying an additional 10,915 shares during the last quarter. 88.49% 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. 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.