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UPDATE: Keefe, Bruyette & Woods Downgrades WSFS Financial As Shares Near Target

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In a report published Monday, Keefe, Bruyette & Woods analyst Catherine Mealor downgraded the rating on WSFS Financial Corporation (NASDAQ: WSFS) from Outperform to Market Perform, but reiterated the $80.00 price target.

In the report, Keefe, Bruyette & Woods noted, “A nice quarter for WSFS with lower credit costs, higher NIM, and solid fee growth driving LQ improvement in profitability to a 1.2% ROA (or 1.07% normalizing for credit costs). Loan growth slowed as expected from pay-downs but we believe will return to 8% next quarter. Adjusting 2014 EPS and lowering to Market Perform as the shares have reached our price target.”

WSFS Financial Corporation closed on Friday at $78.65.

Latest Ratings for WSFS

DateFirmActionFromTo
Mar 2021DA DavidsonDowngradesBuyNeutral
Mar 2021Boenning & ScattergoodDowngradesOutperformNeutral
Mar 2021Piper SandlerDowngradesOverweightNeutral

View More Analyst Ratings for WSFS
View the Latest Analyst Ratings

 

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Posted-In: Catherine Mealor Keefe Bruyette & WoodsAnalyst Color Downgrades Analyst Ratings

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