UPDATE: Keefe, Bruyette & Woods Upgrades WSFS Financial on Valuation and Expected 2Q Rebound
In a report published Tuesday, Keefe, Bruyette & Woods analyst Catherine Mealor upgraded the rating on WSFS Financial (NASDAQ: WSFS) from Market Perform to Outperform, but lowered the price target from $82.00 to $80.00.
In the report, Keefe, Bruyette & Woods noted, “WSFS missed 1Q EPS by $0.05 primarily on seasonal factors, however, management laid out about $0.21/share of seasonal influences that should go away in 2Q. Shares are down 14% YTD and WSFS now trades at a steep discount to peers (11.4x 2015 EPS) despite the fact that the company has nice growth momentum and is well on its way to a 1.2% ROA / 13% ROTCE. Adjusting estimates, lowering PT but upgrading to OP. Transferring coverage to Catherine Mealor from Damon DelMonte.”
WSFS Financial closed on Monday at $66.44.
Latest Ratings for WSFS
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| May 2017 | Keefe Bruyette & Woods | Downgrades | Outperform | Market Perform |
| Mar 2017 | DA Davidson | Initiates Coverage On | Buy | |
| Oct 2016 | Keefe Bruyette & Woods | Upgrades | Market Perform | Outperform |
View More Analyst Ratings for WSFS
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Posted-In: Bruyette & Woods Catherine Mealor KeefeAnalyst Color Upgrades Analyst Ratings
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