WSFS Financial (NASDAQ:WSFS) Posts Quarterly Earnings Results, Beats Estimates By $0.16 EPS

WSFS Financial (NASDAQ:WSFS) posted its quarterly earnings data on Thursday. The bank reported $1.66 EPS for the quarter, beating the consensus estimate of $1.50 by $0.16, FiscalAI reports. The business had revenue of $284.70 million during the quarter, compared to analyst estimates of $278.41 million. WSFS Financial had a net margin of 22.55% and a return on equity of 11.23%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.27 earnings per share.

WSFS Financial Trading Up 0.1%

Shares of NASDAQ:WSFS opened at $78.96 on Friday. WSFS Financial has a 52 week low of $49.92 and a 52 week high of $80.73. The company’s 50 day moving average is $74.87 and its two-hundred day moving average is $68.68. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11. The company has a market cap of $4.11 billion, a PE ratio of 14.05 and a beta of 0.76.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WSFS shares. DA Davidson increased their target price on shares of WSFS Financial from $70.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Zacks Research downgraded shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. UBS Group set a $76.00 price objective on WSFS Financial in a research report on Monday, April 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of WSFS Financial in a research note on Friday, June 12th. Finally, Stephens reissued an “overweight” rating and set a $81.00 target price (up from $79.00) on shares of WSFS Financial in a research note on Monday, April 27th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, WSFS Financial has a consensus rating of “Moderate Buy” and an average price target of $77.07.

Insider Activity

In related news, CEO Rodger Levenson sold 65,446 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $74.11, for a total transaction of $4,850,203.06. Following the completion of the transaction, the chief executive officer owned 186,088 shares in the company, valued at approximately $13,790,981.68. The trade was a 26.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Institutional Trading of WSFS Financial

A number of institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its holdings in WSFS Financial by 71.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 470,191 shares of the bank’s stock worth $25,973,000 after purchasing an additional 195,979 shares in the last quarter. Citadel Advisors LLC lifted its position in shares of WSFS Financial by 1,190.1% during the 3rd quarter. Citadel Advisors LLC now owns 153,234 shares of the bank’s stock worth $8,264,000 after buying an additional 141,356 shares during the last quarter. Tudor Investment Corp ET AL boosted its holdings in shares of WSFS Financial by 541.3% in the 4th quarter. Tudor Investment Corp ET AL now owns 137,124 shares of the bank’s stock valued at $7,575,000 after buying an additional 115,742 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in shares of WSFS Financial by 31.6% in the 2nd quarter. Raymond James Financial Inc. now owns 441,671 shares of the bank’s stock valued at $24,292,000 after buying an additional 105,983 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of WSFS Financial by 579.0% in the 1st quarter. Jane Street Group LLC now owns 117,472 shares of the bank’s stock valued at $6,093,000 after buying an additional 100,171 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

About WSFS Financial

WSFS Financial Corporation is the bank holding company for WSFS Bank, a regional financial institution headquartered in Wilmington, Delaware. The company traces its roots to the Safe Deposit & Trust Company, founded in 1832, and formally organized as WSFS Financial in the mid-1980s. Over its long history, WSFS has grown through a combination of organic expansion and selective acquisitions to serve a broad base of individual, commercial and institutional clients.

WSFS Bank offers a full suite of banking and financial services, including retail and commercial deposit accounts, commercial and industrial lending, real estate financing, and treasury management solutions.