WSFS Financial Co. (NASDAQ:WSFS – Get Rating)’s share price was up 5.2% on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $45.48 and last traded at $45.05. Approximately 4,455 shares changed hands during trading, a decline of 98% from the average daily volume of 238,184 shares. The stock had previously closed at $42.82.
The bank reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.10. WSFS Financial had a net margin of 31.02% and a return on equity of 11.89%. During the same quarter in the previous year, the firm posted $2.00 EPS.
Wall Street Analyst Weigh In
Several brokerages have issued reports on WSFS. StockNews.com cut shares of WSFS Financial from a “hold” rating to a “sell” rating in a research note on Thursday, July 21st. Stephens lowered their target price on shares of WSFS Financial from $53.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, April 25th. Finally, Piper Sandler upgraded WSFS Financial from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $56.00 to $51.00 in a report on Monday, April 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, WSFS Financial has a consensus rating of “Hold” and an average price target of $53.25.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Corbyn Investment Management Inc. MD raised its holdings in WSFS Financial by 0.9% in the 4th quarter. Corbyn Investment Management Inc. MD now owns 36,715 shares of the bank’s stock valued at $1,840,000 after buying an additional 340 shares during the period. Los Angeles Capital Management LLC raised its holdings in WSFS Financial by 8.2% in the 1st quarter. Los Angeles Capital Management LLC now owns 6,846 shares of the bank’s stock valued at $319,000 after buying an additional 520 shares during the period. Yousif Capital Management LLC raised its holdings in WSFS Financial by 1.0% in the 1st quarter. Yousif Capital Management LLC now owns 60,896 shares of the bank’s stock valued at $2,839,000 after buying an additional 608 shares during the period. Harbor Investment Advisory LLC grew its position in WSFS Financial by 43.5% in the 1st quarter. Harbor Investment Advisory LLC now owns 2,050 shares of the bank’s stock valued at $96,000 after acquiring an additional 621 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in WSFS Financial in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.
WSFS Financial Stock Performance
The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 10.07 and a beta of 1.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.77. The firm has a 50-day simple moving average of $41.05 and a two-hundred day simple moving average of $45.56.
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.
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