DA Davidson Decreases Earnings Estimates for WSFS Financial

WSFS Financial Co. (NASDAQ:WSFS) – Equities research analysts at DA Davidson reduced their FY2024 earnings estimates for WSFS Financial in a research note issued on Thursday, December 19th. DA Davidson analyst M. Navas now expects that the bank will earn $4.19 per share for the year, down from their previous estimate of $4.20. The consensus estimate for WSFS Financial’s current full-year earnings is $4.27 per share.

WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. The company had revenue of $267.61 million for the quarter, compared to analyst estimates of $260.35 million. WSFS Financial had a return on equity of 10.56% and a net margin of 18.78%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.23 EPS.

Other research analysts also recently issued research reports about the stock. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of WSFS Financial in a research note on Monday, October 28th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $54.00 price target (down previously from $58.00) on shares of WSFS Financial in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, WSFS Financial has an average rating of “Hold” and an average target price of $59.75.

WSFS Financial Stock Performance

NASDAQ WSFS opened at $52.90 on Friday. The business’s 50-day moving average price is $55.56 and its 200 day moving average price is $52.02. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. WSFS Financial has a twelve month low of $40.19 and a twelve month high of $62.75. The company has a market capitalization of $3.12 billion, a PE ratio of 12.08 and a beta of 1.06.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WSFS. Mill Creek Capital Advisors LLC acquired a new stake in shares of WSFS Financial in the third quarter worth $718,000. Jane Street Group LLC raised its position in WSFS Financial by 47.9% in the third quarter. Jane Street Group LLC now owns 114,154 shares of the bank’s stock valued at $5,821,000 after purchasing an additional 36,990 shares during the period. Victory Capital Management Inc. lifted its stake in shares of WSFS Financial by 30.6% during the third quarter. Victory Capital Management Inc. now owns 36,773 shares of the bank’s stock worth $1,875,000 after purchasing an additional 8,617 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of WSFS Financial by 265.1% in the second quarter. Squarepoint Ops LLC now owns 23,763 shares of the bank’s stock worth $1,117,000 after buying an additional 17,254 shares during the period. Finally, Sei Investments Co. grew its stake in shares of WSFS Financial by 34.1% in the second quarter. Sei Investments Co. now owns 48,343 shares of the bank’s stock valued at $2,272,000 after buying an additional 12,298 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

WSFS Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Friday, November 8th. WSFS Financial’s payout ratio is currently 13.70%.

WSFS Financial Company Profile

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. It offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as accepts jumbo certificates of deposit from individuals, businesses, and municipalities.