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WSFS Financial down 7% after deal news; BofI slides 8% after earnings release


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WSFS Financial down 7% after deal news; BofI slides 8% after earnings release

WSFS Financial Corp.'s stock slid 7.14% to 51.40 at 11:07 a.m. ET on Aug. 8, following news that the Wilmington, Del.-based company is buying Philadelphia-based Beneficial Bancorp Inc.

Beneficial Bancorp's stock climbed 12.88% to $18.40. The deal valued Beneficial Bancorp at $19.61 per share at the time of announcement.

BofI Holding Inc., which reported financial results after markets closed on Tuesday, Aug. 7, saw its stock decline 8.20% to $37.30 as of 11:07 a.m. ET. The San Diego-based company reported net income attributable to common stockholders of $37.0 million, or 58 cents per share, for the three months ended June 30, compared to $32.5 million, or 50 cents per share, in the year-ago quarter. The company reported loan and deposit growth during the quarter, but also reported increases in operating expenses and loan loss provisions.

As of 11:16 a.m. ET, the SNL U.S. Bank Index added 0.38% to 641.73 and the SNL U.S. Thrift Index decreased 0.57% to 934.28. The Dow Jones Industrial Average slid 0.10% to 25,603.43, the S&P 500 added 0.02% to 2,859.12 and the Nasdaq Composite Index was up 0.11% to 7,892.39.

S&P Dow Jones Indices and S&P Global Market Intelligence are owned by S&P Global Inc.

Market prices and index values are current as of the time of publication and are subject to change.