WSFS Financial (NASDAQ:WSFS) Shares Gap Down - Time to Sell?

WSFS Financial Co. (NASDAQ:WSFS - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $52.15, but opened at $48.64. WSFS Financial shares last traded at $51.71, with a volume of 27,081 shares traded.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Stephens reissued an "overweight" rating and set a $64.00 price objective on shares of WSFS Financial in a research report on Monday. Keefe, Bruyette & Woods lowered their price target on WSFS Financial from $66.00 to $64.00 and set a "market perform" rating for the company in a research note on Monday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $62.75.

WSFS Financial Trading Down 1.2 %

The business's fifty day simple moving average is $50.77 and its two-hundred day simple moving average is $53.63. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $2.99 billion, a P/E ratio of 11.67 and a beta of 0.90.

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

WSFS Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, May 9th. This is a boost from WSFS Financial's previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.32%. WSFS Financial's dividend payout ratio is presently 15.28%.

Insiders Place Their Bets

In related news, CEO Rodger Levenson sold 7,199 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $55.20, for a total transaction of $397,384.80. Following the sale, the chief executive officer now directly owns 142,780 shares in the company, valued at $7,881,456. This represents a 4.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.29% of the company's stock.

Hedge Funds Weigh In On WSFS Financial

A number of institutional investors and hedge funds have recently bought and sold shares of WSFS. Envestnet Asset Management Inc. grew its holdings in WSFS Financial by 1.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 180,933 shares of the bank's stock worth $9,385,000 after acquiring an additional 1,971 shares during the last quarter. Principal Financial Group Inc. boosted its position in WSFS Financial by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 324,266 shares of the bank's stock valued at $16,820,000 after buying an additional 7,012 shares during the last quarter. BLB&B Advisors LLC bought a new stake in shares of WSFS Financial during the first quarter worth $291,000. KBC Group NV lifted its stake in shares of WSFS Financial by 6.8% during the first quarter. KBC Group NV now owns 3,081 shares of the bank's stock valued at $160,000 after acquiring an additional 196 shares during the period. Finally, Handelsbanken Fonder AB increased its position in WSFS Financial by 17.5% in the first quarter. Handelsbanken Fonder AB now owns 16,105 shares of the bank's stock worth $835,000 after purchasing an additional 2,400 shares during the period. Institutional investors and hedge funds own 88.49% of the company's stock.

WSFS Financial Company Profile

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.