WSFS Financial Co. (NASDAQ:WSFS) Forecasted to Post FY2023 Earnings of $4.60 Per Share

WSFS Financial Co. (NASDAQ:WSFSGet Rating) – Investment analysts at DA Davidson issued their FY2023 earnings per share (EPS) estimates for shares of WSFS Financial in a research report issued to clients and investors on Wednesday, July 27th. DA Davidson analyst M. Navas anticipates that the bank will post earnings per share of $4.60 for the year. DA Davidson currently has a “Neutral” rating on the stock. The consensus estimate for WSFS Financial’s current full-year earnings is $4.07 per share.

Other equities research analysts have also issued research reports about the company. StockNews.com upgraded WSFS Financial from a “sell” rating to a “hold” rating in a research note on Friday. Stephens lowered their price objective on WSFS Financial from $53.00 to $52.00 and set an “equal weight” rating for the company in a research note on Monday, April 25th. Finally, Piper Sandler raised their price objective on WSFS Financial to $58.00 and gave the company an “outperform” rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $55.00.

WSFS Financial Stock Performance

Shares of NASDAQ:WSFS opened at $47.72 on Friday. The company has a market cap of $3.02 billion, a P/E ratio of 14.37 and a beta of 1.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.77. WSFS Financial has a one year low of $37.03 and a one year high of $56.30. The business’s 50-day simple moving average is $41.49 and its 200 day simple moving average is $45.45.

WSFS Financial (NASDAQ:WSFSGet Rating) last announced its earnings results on Monday, July 25th. The bank reported $1.02 EPS for the quarter, beating the consensus estimate of $0.92 by $0.10. WSFS Financial had a return on equity of 10.14% and a net margin of 23.44%. During the same quarter in the prior year, the company posted $2.00 EPS.

WSFS Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Friday, August 5th will be given a $0.15 dividend. This is a positive change from WSFS Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, August 4th. This represents a $0.60 annualized dividend and a dividend yield of 1.26%. WSFS Financial’s dividend payout ratio (DPR) is presently 15.66%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Harbor Investment Advisory LLC grew its position in shares of WSFS Financial by 43.5% in the 1st quarter. Harbor Investment Advisory LLC now owns 2,050 shares of the bank’s stock worth $96,000 after acquiring an additional 621 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of WSFS Financial by 38.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 31,800 shares of the bank’s stock worth $1,382,000 after purchasing an additional 8,800 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of WSFS Financial by 303.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,473,111 shares of the bank’s stock worth $73,832,000 after purchasing an additional 1,107,875 shares during the last quarter. Congress Asset Management Co. MA lifted its holdings in shares of WSFS Financial by 8.0% in the 1st quarter. Congress Asset Management Co. MA now owns 31,870 shares of the bank’s stock worth $1,486,000 after purchasing an additional 2,363 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of WSFS Financial by 72.9% in the 4th quarter. Barclays PLC now owns 67,199 shares of the bank’s stock worth $3,368,000 after purchasing an additional 28,328 shares during the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

WSFS Financial Company Profile

(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.

See Also

Earnings History and Estimates for WSFS Financial (NASDAQ:WSFS)

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