WSFS Financial (NASDAQ:WSFS) Shares Gap Down – Here’s Why

Shares of WSFS Financial Co. (NASDAQ:WSFS) gapped down prior to trading on Tuesday . The stock had previously closed at $54.79, but opened at $53.69. WSFS Financial shares last traded at $55.29, with a volume of 19,437 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WSFS. Janney Montgomery Scott reissued a “neutral” rating on shares of WSFS Financial in a research note on Monday, October 28th. Stephens reissued an “overweight” rating and issued a $68.00 target price on shares of WSFS Financial in a research note on Tuesday. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $54.00 target price (down previously from $58.00) on shares of WSFS Financial in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $61.25.

WSFS Financial Stock Performance

The stock’s 50 day moving average price is $55.75 and its 200 day moving average price is $53.56. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 12.68 and a beta of 1.08.

WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Monday, January 27th. The bank reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.13. WSFS Financial had a net margin of 18.78% and a return on equity of 10.56%. On average, analysts expect that WSFS Financial Co. will post 4.26 EPS for the current fiscal year.

WSFS Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.08%. WSFS Financial’s dividend payout ratio (DPR) is presently 13.70%.

Institutional Trading of WSFS Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the business. KBC Group NV increased its position in WSFS Financial by 68.4% during the 4th quarter. KBC Group NV now owns 2,885 shares of the bank’s stock worth $153,000 after purchasing an additional 1,172 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in WSFS Financial in the 4th quarter worth approximately $207,000. Assenagon Asset Management S.A. boosted its holdings in WSFS Financial by 819.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 254,616 shares of the bank’s stock worth $13,528,000 after acquiring an additional 226,933 shares during the period. Wilmington Savings Fund Society FSB boosted its holdings in WSFS Financial by 18.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 57,558 shares of the bank’s stock worth $2,935,000 after acquiring an additional 8,763 shares during the period. Finally, Sanctuary Advisors LLC boosted its holdings in WSFS Financial by 100.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 12,879 shares of the bank’s stock worth $657,000 after acquiring an additional 6,466 shares during the period. 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.