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

WSFS Financial Co. (NASDAQ:WSFS - Get Free Report)'s stock price 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.

Analyst Upgrades and Downgrades

WSFS has been the subject of a number of research analyst reports. Stephens restated an "overweight" rating and issued a $68.00 price target on shares of WSFS Financial in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods boosted their target price on shares of WSFS Financial from $64.00 to $68.00 and gave the company a "market perform" rating in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $64.75.

WSFS Financial Trading Down 0.9 %

The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. The firm's 50 day simple moving average is $50.93 and its two-hundred day simple moving average is $53.63. The stock has a market cap of $3.00 billion, a P/E ratio of 11.69 and a beta of 0.90.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last released its earnings results on Thursday, April 24th. The bank reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.09. WSFS Financial had a net margin of 18.77% and a return on equity of 10.30%. The firm had revenue of $256.11 million during the quarter, compared to analyst estimates of $235.44 million. As a group, equities research analysts predict that WSFS Financial Co. will post 4.47 earnings per share for the current fiscal year.

WSFS Financial Increases Dividend

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

Insider Activity

In other news, CEO Rodger Levenson sold 7,199 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $55.20, for a total transaction of $397,384.80. Following the completion of the transaction, the chief executive officer now owns 142,780 shares of the company's stock, valued at approximately $7,881,456. The trade was a 4.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.29% of the company's stock.

Hedge Funds Weigh In On WSFS Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in shares of WSFS Financial by 90.0% during the first quarter. Versant Capital Management Inc now owns 532 shares of the bank's stock valued at $28,000 after acquiring an additional 252 shares during the period. Farther Finance Advisors LLC increased its stake in WSFS Financial by 2,500.0% during the 4th quarter. Farther Finance Advisors LLC now owns 572 shares of the bank's stock valued at $30,000 after buying an additional 550 shares during the period. Crowley Wealth Management Inc. bought a new stake in shares of WSFS Financial during the 4th quarter worth about $32,000. VSM Wealth Advisory LLC acquired a new stake in shares of WSFS Financial in the 4th quarter worth approximately $40,000. Finally, AlphaQuest LLC bought a new position in shares of WSFS Financial in the fourth quarter valued at approximately $84,000. 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.