WSFS Financial (NASDAQ:WSFS) Announces Earnings Results

WSFS Financial (NASDAQ:WSFS) posted its quarterly earnings results on Thursday. The bank reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.28, FiscalAI reports. WSFS Financial had a return on equity of 10.89% and a net margin of 21.14%.The company had revenue of $275.25 million for the quarter, compared to analysts’ expectations of $274.17 million.

WSFS Financial Stock Performance

Shares of WSFS traded up $0.76 during midday trading on Thursday, reaching $70.15. 266,495 shares of the stock were exchanged, compared to its average volume of 431,467. The business’s 50-day moving average price is $65.92 and its 200 day moving average price is $59.97. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84. WSFS Financial has a twelve month low of $48.64 and a twelve month high of $72.14. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 13.75 and a beta of 0.75.

WSFS Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a dividend of $0.17 per share. The ex-dividend date was Friday, February 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.0%. WSFS Financial’s payout ratio is 13.33%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Brean Capital assumed coverage on WSFS Financial in a research note on Tuesday, March 10th. They issued a “buy” rating and a $74.50 price target on the stock. Zacks Research cut WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Stephens restated an “overweight” rating and issued a $71.00 price target (up from $66.00) on shares of WSFS Financial in a research note on Wednesday, January 28th. DA Davidson assumed coverage on WSFS Financial in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $74.00 price target on the stock. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of WSFS Financial in a research note on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.42.

Insider Transactions at WSFS Financial

In other news, EVP Shari Kruzinski sold 1,000 shares of WSFS Financial stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $70.10, for a total transaction of $70,100.00. Following the sale, the executive vice president owned 14,740 shares in the company, valued at approximately $1,033,274. The trade was a 6.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James J. Wechsler sold 450 shares of WSFS Financial stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $69.89, for a total value of $31,450.50. Following the sale, the executive vice president owned 5,777 shares in the company, valued at $403,754.53. This trade represents a 7.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 3,455 shares of company stock worth $242,923. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of WSFS Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its position in shares of WSFS Financial by 11.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,598 shares of the bank’s stock worth $88,000 after purchasing an additional 163 shares in the last quarter. Lido Advisors LLC increased its position in WSFS Financial by 3.7% in the 3rd quarter. Lido Advisors LLC now owns 6,389 shares of the bank’s stock valued at $345,000 after acquiring an additional 225 shares during the period. Smartleaf Asset Management LLC increased its position in WSFS Financial by 8.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,534 shares of the bank’s stock valued at $197,000 after acquiring an additional 271 shares during the period. US Bancorp DE increased its position in WSFS Financial by 12.3% in the 3rd quarter. US Bancorp DE now owns 3,845 shares of the bank’s stock valued at $207,000 after acquiring an additional 422 shares during the period. Finally, Kestra Advisory Services LLC increased its position in WSFS Financial by 10.7% in the 4th quarter. Kestra Advisory Services LLC now owns 4,839 shares of the bank’s stock valued at $267,000 after acquiring an additional 469 shares during the period. Institutional investors and hedge funds own 88.49% of the company’s stock.

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.