Brokerages Expect WSFS Financial Co. (NASDAQ:WSFS) Will Post Earnings of $0.92 Per Share

Wall Street analysts forecast that WSFS Financial Co. (NASDAQ:WSFSGet Rating) will post earnings of $0.92 per share for the current quarter, according to Zacks. Two analysts have issued estimates for WSFS Financial’s earnings. The highest EPS estimate is $0.97 and the lowest is $0.85. WSFS Financial posted earnings per share of $2.00 in the same quarter last year, which would indicate a negative year over year growth rate of 54%. The business is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that WSFS Financial will report full year earnings of $4.07 per share for the current financial year, with EPS estimates ranging from $3.88 to $4.27. For the next financial year, analysts expect that the company will report earnings of $4.64 per share, with EPS estimates ranging from $4.56 to $4.75. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow WSFS Financial.

WSFS Financial (NASDAQ:WSFSGet Rating) last announced its earnings results on Thursday, April 21st. The bank reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.14). The company had revenue of $199.13 million during the quarter, compared to analyst estimates of $134.16 million. WSFS Financial had a net margin of 31.02% and a return on equity of 11.89%. During the same quarter last year, the business earned $1.39 EPS.

WSFS has been the topic of a number of analyst reports. StockNews.com raised shares of WSFS Financial from a “sell” rating to a “hold” rating in a research note on Tuesday. Piper Sandler raised shares of WSFS Financial from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $56.00 to $51.00 in a research note on Monday, April 25th. Zacks Investment Research downgraded shares of WSFS Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 21st. Finally, Stephens reduced their target price on shares of WSFS Financial from $53.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, April 25th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $51.80.

WSFS traded down $0.94 on Wednesday, reaching $42.60. 280,349 shares of the company’s stock were exchanged, compared to its average volume of 384,647. The stock has a market cap of $2.70 billion, a PE ratio of 9.70 and a beta of 1.09. WSFS Financial has a twelve month low of $37.03 and a twelve month high of $56.30. The stock’s fifty day moving average price is $41.53 and its 200-day moving average price is $48.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.77 and a quick ratio of 0.76.

The company also recently declared a quarterly dividend, which was paid on Friday, May 20th. Shareholders of record on Friday, May 6th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.22%. The ex-dividend date was Thursday, May 5th. WSFS Financial’s dividend payout ratio (DPR) is presently 11.85%.

In other news, EVP Richard Wright sold 1,973 shares of the company’s stock in a transaction on Tuesday, April 19th. The shares were sold at an average price of $42.03, for a total value of $82,925.19. Following the completion of the transaction, the executive vice president now owns 42,196 shares in the company, valued at approximately $1,773,497.88. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Nancy J. Foster bought 1,000 shares of the stock in a transaction dated Tuesday, April 26th. The stock was bought at an average price of $41.69 per share, with a total value of $41,690.00. Following the acquisition, the director now owns 4,213 shares in the company, valued at approximately $175,639.97. The disclosure for this purchase can be found here. Insiders own 1.73% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new stake in WSFS Financial during the 4th quarter worth $32,000. Quadrant Capital Group LLC boosted its stake in WSFS Financial by 1,032.3% during the 1st quarter. Quadrant Capital Group LLC now owns 702 shares of the bank’s stock worth $33,000 after purchasing an additional 640 shares during the period. Meeder Asset Management Inc. acquired a new stake in WSFS Financial during the 1st quarter worth $40,000. FourThought Financial LLC acquired a new stake in WSFS Financial during the 1st quarter worth $74,000. Finally, Harbor Investment Advisory LLC raised its position in WSFS Financial by 43.5% during the 1st quarter. Harbor Investment Advisory LLC now owns 2,050 shares of the bank’s stock worth $96,000 after buying an additional 621 shares during the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

About WSFS Financial (Get Rating)

WSFS Financial Corporation operates as the savings and loan holding company for the Wilmington Savings Fund Society, FSB that provides various banking services in the United States. It operates through three segments: WSFS Bank, Cash Connect, and Wealth Management. It offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as accepts jumbo certificates of deposit from individuals, businesses, and municipalities.

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