Profit Fan

This Old Bank Stands For Service But Shares Look Risky

WSFS Financial Corporation (NASDAQ:WSFS) was founded in 1832 and is the seventh oldest bank that has continuously operated under the same name in the United States. The bank is headquartered out of Delaware and also operates in Pennsylvania and Virginia. When last reported the bank managed $4.4 billion in assets and had $3 billion in deposits; it currently has a market cap of $533 million.

The bank has been making some very positive strides towards cleaning up its balance sheet and buying back TARP shares, but there still remains a lot of work to do. Shares are up 42.7% YTD and trade at a 60% premium to their tangible common book value of $37.35. At this point, bank...

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