WSFS Financial (NASDAQ:WSFS) Shares Gap Down - Here's Why

WSFS Financial Co. (NASDAQ:WSFS) experienced a notable price drop when trading began on Tuesday. The stock closed at $54.79 before opening at a lower price of $53.69. As of latest reports, WSFS Financial shares were trading at $55.29, with a trading volume of 19,437 shares.

Analyst Ratings Changes

Recently, several analyst reports have emerged regarding WSFS Financial. In a research note released on Tuesday, Stephens maintained an "overweight" rating and set a target price of $68.00 for the shares. Conversely, Keefe, Bruyette & Woods revised their rating to "market perform" and adjusted their price objective down to $54.00 from $58.00 on October 29th. Additionally, Janney Montgomery Scott reiterated a "neutral" rating in their report from Monday, October 28th. Overall, three research analysts have given the stock a hold rating while two have issued buy ratings. According to MarketBeat, WSFS currently holds a consensus rating of "Hold" with an average target price of $61.25.

WSFS Financial Trading Performance

In terms of financial health, WSFS Financial showcases a quick ratio of 0.86 along with a current ratio of 0.86. The company’s debt-to-equity ratio stands at 0.40. The stock's fifty-day simple moving average is at $55.75, and the two-hundred-day moving average is at $53.56. With a market capitalization of $3.27 billion and a price-to-earnings ratio of 12.68, WSFS has a beta of 1.08, indicating some volatility compared to the overall market.

Quarterly Earnings Overview

WSFS Financial most recently announced its quarterly earnings data on January 27th. The bank reported earnings per share (EPS) of $1.11, which surpassed analysts' expectations of $0.98 by $0.13. Notably, the company achieved a net margin of 18.78% and a return on equity of 10.56%. Analysts predict that the company will report an EPS of 4.26 for the current fiscal year.

Dividend Information

The company also announced a quarterly dividend that is set to be paid on February 21st. Shareholders of record on February 7th will receive a dividend of $0.15 per share, which translates to an annualized dividend of $0.60 and a yield of 1.08%. Currently, WSFS Financial maintains a payout ratio of 13.70%.

Institutional Investor Activity

Many institutional investors have recently changed their positions in WSFS. For instance, International Assets Investment Management LLC significantly increased its holdings by 5,000% in the third quarter, acquiring 918 shares valued at about $47,000. GAMMA Investing LLC also raised its holdings by 41.8%, with a total of 1,451 shares now worth around $74,000. Other institutional activities include SG Americas Securities obtaining a new position valued at $127,000, and KBC Group NV increasing its stake by 68.4% with a total of 2,885 shares. Approximately 88.49% of the stock is held by institutional investors and hedge funds.

About WSFS Financial

WSFS Financial Corporation functions as the savings and loan holding company for Wilmington Savings Fund Society, FSB. It offers a range of banking services across the United States through three main segments: WSFS Bank, Cash Connect, and Wealth Management. The company provides various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market accounts, and certificates of deposit, among others.

WSFS, stocks, financial