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

Shares of WSFS Financial Co. (NASDAQ:WSFS) saw a significant dip before the trading session on Tuesday. The stock, which had closed at $54.79 in the previous session, opened at $53.69. As of the latest trading, WSFS Financial shares are being exchanged at $55.29, with a trading volume of 19,437 shares.

Recent Analyst Ratings

In light of this price movement, WSFS has attracted attention from several research analysts. On Tuesday, Stephens maintained an "overweight" rating on the stock, setting a price target of $68.00. However, Keefe, Bruyette & Woods adjusted their stance from a previous target of $58.00 down to $54.00 while reiterating a "market perform" rating on the same day. Additionally, Janney Montgomery Scott provided a "neutral" rating on the stock in a report dated October 28. Currently, there are three analysts with a hold rating on WSFS, while two analysts have issued buy ratings. The consensus rating stands at "Hold" with an average price target of $61.25, according to MarketBeat data.

WSFS Financial Performance Metrics

In recent trading, WSFS Financial's stock has seen a slight increase of 1.3%. The company's financials reveal a quick ratio of 0.86 and a current ratio also at 0.86, indicating short-term financial health. The debt-to-equity ratio stands at 0.40, reflecting prudent leverage. Currently, WSFS has a market capitalization of $3.27 billion, with a price-to-earnings ratio of 12.68 and a beta of 1.08, suggesting it has a moderate volatility compared to the broader market.

WSFS Financial recently disclosed its quarterly earnings on January 27, where it reported earnings per share of $1.11, surpassing analysts' expectations of $0.98 by a margin of $0.13. The company's net margin is approximately 18.78%, with a return on equity of 10.56%. Analysts forecast that WSFS Financial Co. will achieve earnings per share of 4.26 for the current year.

Dividend Announcement

The company has also announced a quarterly dividend, scheduled to be paid on February 21 to shareholders who own stock by February 7. The dividend will be $0.15 per share, which translates to an annualized dividend of $0.60, equating to a yield of 1.08%. WSFS Financial's current payout ratio is outlined at 13.70%.

Institutional Investor Activities

Institutional investments in WSFS Financial have been diverse, with several entities adjusting their stakes. For example, International Assets Investment Management LLC boosted its holdings by a staggering 5,000.0% in the third quarter, now owning 918 shares valued at $47,000 after an additional 900 shares were acquired. GAMMA Investing LLC also increased its stake by 41.8%, reaching 1,451 shares worth $74,000. Other institutions like SG Americas Securities LLC and KBC Group NV have similarly modified their holdings, with 88.49% of the stock now owned by institutional investors and hedge funds.

About WSFS Financial

WSFS Financial Corporation operates as the holding company for Wilmington Savings Fund Society, FSB, providing a wide range of banking services across the United States. Its operations are divided into three segments: WSFS Bank, Cash Connect, and Wealth Management. The company offers various deposit products, including savings accounts, demand deposits, and certificates of deposit, as well as jumbo certificates of deposit for individuals and businesses.

Conclusion

With a mix of positive and cautious analyst ratings and a solid earnings report, investors are keeping a keen eye on WSFS Financial. The stock's recent gap down illustrates the volatility markets can exhibit amid changing analyst sentiment and broader economic factors.

WSFS, Stocks, Finance