WSFS Financial (NASDAQ:WSFS) Releases Quarterly Earnings Results, Meets Estimates

by · The Markets Daily

WSFS Financial (NASDAQ:WSFS – Get Free Report) announced its quarterly earnings results on Thursday. The bank reported $1.08 earnings per share for the quarter, meeting the consensus estimate of $1.08, Briefing.com reports. WSFS Financial had a return on equity of 11.47% and a net margin of 20.04%. The firm had revenue of $267.61 million during the quarter, compared to analyst estimates of $260.35 million. During the same quarter in the previous year, the business earned $1.23 EPS. WSFS Financial’s revenue for the quarter was up .6% compared to the same quarter last year.

WSFS Financial Price Performance

Shares of WSFS Financial stock traded down $1.26 on Friday, hitting $49.47. 103,538 shares of the company were exchanged, compared to its average volume of 270,221. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 11.22 and a beta of 1.01. The company has a 50-day moving average price of $51.49 and a 200 day moving average price of $48.49. WSFS Financial has a 1-year low of $33.69 and a 1-year high of $58.59. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.46.

Insider Transactions at WSFS Financial

In other news, EVP Stephen P. Clark sold 12,663 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $56.52, for a total transaction of $715,712.76. Following the transaction, the executive vice president now directly owns 25,671 shares in the company, valued at $1,450,924.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. DA Davidson boosted their price objective on WSFS Financial from $59.00 to $68.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Stephens boosted their price objective on WSFS Financial from $54.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods boosted their price objective on WSFS Financial from $53.00 to $61.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Finally, Piper Sandler boosted their price objective on WSFS Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th.

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WSFS Financial Company Profile

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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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