Equities research analysts forecast that WSFS Financial Co. (NASDAQ:WSFS) will post $0.87 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for WSFS Financial’s earnings. The highest EPS estimate is $0.90 and the lowest is $0.83. WSFS Financial reported earnings of $0.64 per share in the same quarter last year, which would indicate a positive year over year growth rate of 35.9%. The business is expected to report its next quarterly earnings results after the market closes on Monday, October 22nd.
According to Zacks, analysts expect that WSFS Financial will report full-year earnings of $3.44 per share for the current year, with EPS estimates ranging from $3.38 to $3.50. For the next year, analysts expect that the company will post earnings of $3.71 per share, with EPS estimates ranging from $3.48 to $3.90. Zacks’ EPS averages are an average based on a survey of research firms that cover WSFS Financial.
WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings results on Monday, July 23rd. The bank reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.08. The company had revenue of $95.98 million for the quarter, compared to the consensus estimate of $93.63 million. WSFS Financial had a return on equity of 13.02% and a net margin of 20.57%.
Several research firms recently weighed in on WSFS. BidaskClub upgraded WSFS Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. Stephens restated a “buy” rating and issued a $58.00 price target on shares of WSFS Financial in a research note on Monday, August 13th. Zacks Investment Research upgraded WSFS Financial from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Thursday, July 26th. Sandler O’Neill reiterated a “buy” rating and set a $63.00 target price on shares of WSFS Financial in a research note on Sunday, August 12th. Finally, Boenning Scattergood reiterated a “buy” rating on shares of WSFS Financial in a research note on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. WSFS Financial presently has an average rating of “Hold” and an average target price of $59.67.
WSFS Financial stock opened at $47.45 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $1.51 billion, a P/E ratio of 18.54, a P/E/G ratio of 1.15 and a beta of 1.18. WSFS Financial has a twelve month low of $45.71 and a twelve month high of $57.70.
In other WSFS Financial news, CEO Mark A. Turner sold 44,988 shares of the stock in a transaction on Monday, July 9th. The stock was sold at an average price of $54.37, for a total transaction of $2,445,997.56. Following the sale, the chief executive officer now directly owns 148,487 shares in the company, valued at approximately $8,073,238.19. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mark A. Turner sold 42,000 shares of the stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $48.72, for a total value of $2,046,240.00. Following the sale, the chief executive officer now owns 153,738 shares in the company, valued at $7,490,115.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,968 shares of company stock worth $10,508,226. Company insiders own 5.73% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in WSFS. OppenheimerFunds Inc. boosted its stake in shares of WSFS Financial by 120.6% in the 1st quarter. OppenheimerFunds Inc. now owns 443,598 shares of the bank’s stock worth $21,249,000 after buying an additional 242,467 shares during the last quarter. BlackRock Inc. boosted its stake in shares of WSFS Financial by 8.4% in the 2nd quarter. BlackRock Inc. now owns 2,141,028 shares of the bank’s stock worth $114,117,000 after buying an additional 165,476 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of WSFS Financial by 9.1% in the 2nd quarter. Macquarie Group Ltd. now owns 1,063,000 shares of the bank’s stock worth $56,658,000 after buying an additional 88,373 shares during the last quarter. Standard Life Aberdeen plc boosted its stake in shares of WSFS Financial by 5.9% in the 2nd quarter. Standard Life Aberdeen plc now owns 1,409,337 shares of the bank’s stock worth $75,153,000 after buying an additional 79,039 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of WSFS Financial by 11.1% in the 1st quarter. Nuveen Asset Management LLC now owns 605,987 shares of the bank’s stock worth $29,027,000 after buying an additional 60,630 shares during the last quarter. Hedge funds and other institutional investors own 78.58% 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. The company offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as jumbo certificates of deposit.
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