WSFS Financial (NASDAQ:WSFS) Announces Quarterly Earnings Results

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

WSFS Financial Stock Performance

NASDAQ WSFS traded up $0.70 during trading hours on Thursday, hitting $77.51. The company’s stock had a trading volume of 472,365 shares, compared to its average volume of 415,469. WSFS Financial has a 12 month low of $50.79 and a 12 month high of $82.94. The company’s 50 day simple moving average is $78.08 and its two-hundred day simple moving average is $75.67. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $3.96 billion, a P/E ratio of 12.96 and a beta of 0.84.

Insider Activity at WSFS Financial

In other news, EVP Shari Kruzinski sold 3,500 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $81.74, for a total value of $286,090.00. Following the transaction, the executive vice president owned 15,207 shares in the company, valued at $1,243,020.18. This represents a 18.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $258,006.62. Following the completion of the transaction, the director owned 11,495 shares in the company, valued at $913,392.70. This trade represents a 22.03% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

About WSFS Financial

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.