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

by · The Markets Daily

WSFS Financial (NASDAQ:WSFS – Get Free Report) posted its quarterly earnings results on Thursday. The bank reported $1.75 EPS for the quarter, beating the consensus estimate of $1.62 by $0.13, FiscalAI reports. WSFS Financial had a net margin of 23.34% and a return on equity of 11.71%. The business had revenue of $287.57 million during the quarter, compared to analyst estimates of $289.82 million.

WSFS Financial Stock Performance

WSFS Financial stock traded up $0.70 during midday trading on Thursday, reaching $77.51. 468,276 shares of the stock traded hands, compared to its average volume of 415,469. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average price of $78.08 and a two-hundred day moving average price of $75.67. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 12.96 and a beta of 0.84. WSFS Financial has a fifty-two week low of $50.79 and a fifty-two week high of $82.94.

Insider Activity at WSFS Financial

In other news, EVP Shari Kruzinski sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $81.74, for a total transaction of $286,090.00. Following the completion of the transaction, the executive vice president directly owned 15,207 shares in the company, valued at approximately $1,243,020.18. The trade was a 18.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael J. Donahue sold 3,247 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $913,392.70. This trade represents a 22.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on WSFS. DA Davidson set a $83.00 price objective on shares of WSFS Financial and gave the stock a “neutral” rating in a research note on Monday, July 27th. Weiss Ratings upgraded WSFS Financial from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, August 31st. Keefe, Bruyette & Woods upped their target price on WSFS Financial from $83.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Stephens lowered WSFS Financial from an “overweight” rating to an “equal weight” rating and set a $87.00 price objective for the company. in a research report on Wednesday, August 12th. Finally, Piper Sandler restated a “neutral” rating and set a $90.00 price objective (up from $80.00) on shares of WSFS Financial in a research note on Monday, August 3rd. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, WSFS Financial presently has an average rating of “Hold” and a consensus price target of $84.07.

Read Our Latest Stock Analysis on WSFS Financial

About WSFS Financial

(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.

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