FY2024 EPS Estimate for WSFS Financial Increased by Analyst

WSFS Financial Co. (NASDAQ:WSFS) – Analysts at DA Davidson upped their FY2024 EPS estimates for WSFS Financial in a research report issued on Wednesday, October 23rd. DA Davidson analyst M. Navas now forecasts that the bank will earn $4.35 per share for the year, up from their previous forecast of $4.33. DA Davidson has a “Buy” rating and a $68.00 price objective on the stock. The consensus estimate for WSFS Financial’s current full-year earnings is $4.31 per share. DA Davidson also issued estimates for WSFS Financial’s FY2025 earnings at $4.40 EPS.

A number of other analysts have also recently issued reports on WSFS. Keefe, Bruyette & Woods increased their price objective on WSFS Financial from $53.00 to $61.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Stephens raised their price objective on shares of WSFS Financial from $54.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, Piper Sandler boosted their price objective on shares of WSFS Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th.

WSFS Financial Price Performance

WSFS Financial stock opened at $49.10 on Friday. The firm has a market capitalization of $2.91 billion, a P/E ratio of 10.86 and a beta of 1.01. WSFS Financial has a one year low of $33.69 and a one year high of $58.59. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.86 and a quick ratio of 0.86. The business has a fifty day moving average price of $51.45 and a 200-day moving average price of $48.55.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Thursday, October 24th. The bank reported $1.08 EPS for the quarter, hitting the consensus estimate of $1.08. WSFS Financial had a net margin of 20.04% and a return on equity of 11.47%. The company had revenue of $267.61 million during the quarter, compared to the consensus estimate of $260.35 million. During the same period last year, the firm earned $1.23 EPS. WSFS Financial’s revenue for the quarter was up .6% on a year-over-year basis.

WSFS Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.15 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.60 annualized dividend and a dividend yield of 1.22%. WSFS Financial’s payout ratio is currently 13.27%.

Insider Activity

In other news, EVP Stephen P. Clark sold 12,663 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $56.52, for a total value of $715,712.76. Following the transaction, the executive vice president now owns 25,671 shares of the company’s stock, valued at $1,450,924.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.29% of the company’s stock.

Institutional Trading of WSFS Financial

A number of hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC grew its position in WSFS Financial by 5,000.0% during the third quarter. International Assets Investment Management LLC now owns 918 shares of the bank’s stock valued at $47,000 after acquiring an additional 900 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in WSFS Financial in the 1st quarter worth $45,000. GAMMA Investing LLC lifted its stake in WSFS Financial by 40.5% in the second quarter. GAMMA Investing LLC now owns 1,023 shares of the bank’s stock worth $48,000 after purchasing an additional 295 shares during the last quarter. Innealta Capital LLC purchased a new stake in WSFS Financial during the second quarter valued at about $114,000. Finally, SG Americas Securities LLC bought a new position in shares of WSFS Financial during the third quarter valued at about $127,000. Institutional investors own 88.49% of the company’s stock.

About WSFS Financial

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.