WSFS Financial (NASDAQ:WSFS – Get Rating) reported quarterly results on Thursday. It beat analyst consensus forecast of $1.37 by $0.01. WSFS Financial posted a net profit margin of 22.99% and a return on equity of 10.64%. The company’s revenue for the quarter was $193.9 million, compared with analyst estimates of $203.06 million. His earnings per share for the company in the same period last year were $1.04. Business revenue increased by 79.2% year-on-year.
WSFS Financial Price Performance
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NASDAQ WSFS opened Friday at $48.39. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt to equity ratio of 0.18. WSFS Financial has a 12-month low of $37.03 and a 12-month high of $54.04. The company has a market capitalization of $2.98 billion, a PE ratio of 13.95 and a beta of 1.02. The company has a 50-day moving average of $46.64 and a 200-day moving average of $47.10.
Analyst Rating Change
Many research analysts put a lot of weight on stock prices. StockNews.com covered his stake in WSFS Financial in a research note on Wednesday, Oct. 12. They issued a “Hold” rating on the stock. Janney Montgomery Scott undertook coverage on WSFS Financial stock in her research notes on Wednesday, November 30. They issued a ‘buy’ rating and a price target of $57.00. Three of Research’s analysts rated the stock with a holding rating, and two gave the stock a buy rating. Based on MarketBeat.com data, WSFS Financial’s current consensus valuation is ‘Hold’ with a consensus price target of $54.75.
Insider activity
In another piece of news, Director Francis J. Leto sold 10,388 shares of WSFS Financial stock in a transaction that took place on Friday, November 4th. The shares were sold at an average price of $46.57, giving him a total of $483,769.16. After the sale, the directors now directly own 9,753 shares of the company, valued at $454,197.21. The transaction was disclosed in filings with the Securities and Exchange Commission and is available on the SEC’s website. In separate news, Director Francis J. Leto sold 10,388 shares of his WSFS Financial shares in a transaction that took place on Friday, November 4th. The shares were sold at an average price of $46.57, giving him a total of $483,769.16. After the sale, the directors now directly own 9,753 shares of the company, valued at $454,197.21. The transaction was disclosed in filings with the Securities and Exchange Commission and is available on the SEC’s website. CEO Rodger Levenson also sold 7,945 shares of WSFS Financial in a transaction that took place on Friday, November 11th. The shares sold for an average of $48.24, and the total trading value he had was $383,266.80. Following the closing of the sale, the CEO now owns 130,369 shares of the company’s stock, valued at $6,289,000.56. Please see here for the disclosure of this sale. Insiders have sold 19,638 shares of company stock worth $927,562 in the last 90 days. The insider owns his 1.98% stake in the company.
Hedge Fund Joins WSFS Financial
Many institutional investors have recently increased or decreased their stakes in the company. BlackRock Inc. increased his WSFS Financial holdings by 34.8% in the first quarter. BlackRock Inc. now owns 9,464,621 bank shares worth $441.24 million after he purchased an additional 2,442,621 shares last quarter. Vanguard Group Inc. increased his WSFS Financial holdings by 16.2% in the first quarter. Vanguard Group Inc. now owns 7,112,476 bank shares worth $331,584,000 after purchasing an additional 992,425 shares in the previous quarter. State Street Corp increased his WSFS Financial holdings by 29.1% in the first quarter. State Street Corp now owns 2,878,509 shares of the bank worth $134,196,000 after purchasing an additional 648,867 shares in the previous quarter. Invesco Ltd. boosted his WSFS Financial position by 7.0% in the first quarter. Invesco Ltd. now owns 1,369,339 bank shares worth $63,838,000 after purchasing an additional 89,948 shares during this period. Finally, Manufacturers’ Life Insurance Company increased its position in WSFS Financial by 69.6% in the first quarter. Manufacturers’ Life Insurance Company now owns 980,353 bank shares worth $45,704,000 after purchasing an additional 402,212 shares during this period. Currently 88.10% of the shares are owned by institutional investors and hedge funds.
About WSFS Financial
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WSFS Financial Corporation operates as a savings and loan holding company for the Wilmington Savings Fund Society, an FSB that provides various banking services in the United States. WSFS Bank, Cash Connect, and Wealth Management He operates in three segments. We offer a variety of deposit products such as savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts and certificates of deposit, and accept jumbo certificates of deposit from individuals, businesses and municipalities.
References
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