WSFS Financial (NASDAQ:WSFS) Announces Earnings Results, Beats Estimates By $0.17 EPS

WSFS Financial (NASDAQ:WSFS) announced its quarterly earnings results on Monday. The bank reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.17, FiscalAI reports. WSFS Financial had a return on equity of 10.60% and a net margin of 20.44%.The firm had revenue of $90.08 million for the quarter, compared to the consensus estimate of $267.36 million.

WSFS Financial Stock Performance

Shares of WSFS stock traded up $0.18 on Monday, hitting $57.92. The company’s stock had a trading volume of 375,665 shares, compared to its average volume of 339,268. WSFS Financial has a fifty-two week low of $42.44 and a fifty-two week high of $60.35. The company has a market capitalization of $3.17 billion, a PE ratio of 11.94 and a beta of 0.80. The stock’s 50 day moving average is $56.38 and its 200-day moving average is $55.65. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.84 and a current ratio of 0.84.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. CIBC Bancorp USA Inc. bought a new stake in shares of WSFS Financial in the third quarter valued at approximately $322,000. CANADA LIFE ASSURANCE Co grew its holdings in shares of WSFS Financial by 1.2% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 57,066 shares of the bank’s stock worth $3,096,000 after purchasing an additional 687 shares in the last quarter. PharVision Advisers LLC acquired a new stake in shares of WSFS Financial during the 3rd quarter worth $231,000. Verition Fund Management LLC bought a new position in shares of WSFS Financial in the third quarter worth $1,458,000. Finally, Quarry LP raised its stake in WSFS Financial by 159.7% in the third quarter. Quarry LP now owns 813 shares of the bank’s stock valued at $44,000 after purchasing an additional 500 shares in the last quarter. 88.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. DA Davidson lowered WSFS Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. TD Cowen reiterated a “buy” rating on shares of WSFS Financial in a report on Wednesday, January 7th. Weiss Ratings restated a “buy (b-)” rating on shares of WSFS Financial in a research note on Wednesday. Finally, Piper Sandler set a $62.00 price target on shares of WSFS Financial and gave the company a “neutral” rating in a research note on Wednesday, December 17th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.40.

WSFS Financial Company Profile

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.