WSFS Financial (NASDAQ:WSFS) Announces Quarterly Earnings Results, Beats Estimates By $0.13 EPS

WSFS Financial (NASDAQ:WSFS – Get Free Report) released its quarterly earnings results on Thursday. The bank reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.13, FiscalAI reports. WSFS Financial had a return on equity of 11.71% and a net margin of 23.34%. The firm had revenue of $287.57 million during the quarter, compared to analysts’ expectations of $289.82 million.

WSFS Financial Stock Up 0.9%

Shares of WSFS traded up $0.70 during midday trading on Thursday, hitting $77.51. The company had a trading volume of 468,276 shares, compared to its average volume of 415,469. The stock has a market cap of $3.96 billion, a price-to-earnings ratio of 12.96 and a beta of 0.84. The company’s 50 day moving average price is $78.08 and its 200 day moving average price is $75.67. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. WSFS Financial has a 52 week low of $50.79 and a 52 week high of $82.94.

Insider Activity

In related news, Director Michael Donahue sold 3,247 shares of WSFS Financial stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $79.46, for a total value of $258,006.62. Following the completion of the transaction, the director directly owned 11,495 shares in the company, valued at approximately $913,392.70. This trade represents a 22.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Shari Kruzinski sold 3,500 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $81.74, for a total value of $286,090.00. Following the completion of the sale, the executive vice president directly owned 15,207 shares of the company’s stock, valued at approximately $1,243,020.18. This represents a 18.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WSFS shares. Weiss Ratings upgraded shares of WSFS Financial from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, August 31st. Piper Sandler reissued a “neutral” rating and issued a $90.00 price objective (up from $80.00) on shares of WSFS Financial in a research report on Monday, August 3rd. Stephens downgraded WSFS Financial from an “overweight” rating to an “equal weight” rating and set a $87.00 target price for the company. in a research note on Wednesday, August 12th. DA Davidson set a $83.00 price objective on WSFS Financial and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, TD Cowen dropped their price objective on WSFS Financial from $92.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $84.07.

Get Our Latest Stock Analysis on WSFS Financial

WSFS Financial Company Profile

(Get Free Report)

WSFS Financial Corporation is the financial holding company for WSFS Bank, a full-service community banking institution headquartered in Wilmington, Delaware. Founded in 1832, WSFS is one of the oldest and largest locally managed banks in the Delaware Valley.

WSFS Bank provides a range of banking services for individuals, families, businesses and institutions. Its offerings include checking and savings accounts, consumer lending, residential mortgages, commercial loans, treasury and cash-management services, and online and mobile banking.

See Also

Earnings History for WSFS Financial (NASDAQ:WSFS)

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