Stephens analyst Brody Preston resumed coverage of WSFS Financial with an Equal Weight rating and $45 price target, saying that the target is driven by his fair value multiple of 12.5x 2020E EPS. Preston said that WSFS is a growing commercial bank, with diversified revenues and "solid" market share located in one of the better markets in the Mid-Atlantic/Northeast. The analyst noted, however, that he is concerned about the company's ability to offset lost accretion income moving forward, and his forecast sees WSFS' profitability levels declining to more peer-like levels.