WSFS Financial Co. to Post Q3 2024 Earnings of $1.10 Per Share, DA Davidson Forecasts (NASDAQ:WSFS)

WSFS Financial Co. (NASDAQ:WSFS) – Stock analysts at DA Davidson issued their Q3 2024 earnings estimates for WSFS Financial in a research note issued to investors on Friday, August 16th. DA Davidson analyst M. Navas forecasts that the bank will post earnings of $1.10 per share for the quarter. DA Davidson currently has a “Buy” rating and a $68.00 target price on the stock. The consensus estimate for WSFS Financial’s current full-year earnings is $4.31 per share. DA Davidson also issued estimates for WSFS Financial’s FY2025 earnings at $4.40 EPS.

WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The firm had revenue of $266.00 million for the quarter, compared to analyst estimates of $254.48 million. WSFS Financial had a return on equity of 11.47% and a net margin of 20.04%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $1.16 EPS.

WSFS has been the topic of a number of other reports. Keefe, Bruyette & Woods raised their price target on shares of WSFS Financial from $53.00 to $61.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Stephens raised their price objective on WSFS Financial from $54.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Piper Sandler increased their target price on WSFS Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $61.50.

WSFS Financial Trading Up 1.2 %

Shares of WSFS opened at $52.10 on Monday. The business’s fifty day moving average is $49.38 and its 200-day moving average is $45.59. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of 11.63 and a beta of 1.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.86 and a current ratio of 0.86. WSFS Financial has a 52-week low of $33.12 and a 52-week high of $58.59.

WSFS Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Friday, August 9th. WSFS Financial’s dividend payout ratio is currently 13.39%.

Insider Buying and Selling

In other news, EVP Stephen P. Clark sold 12,663 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $56.52, for a total transaction of $715,712.76. Following the completion of the sale, the executive vice president now directly owns 25,671 shares in the company, valued at $1,450,924.92. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.29% of the stock is owned by insiders.

Hedge Funds Weigh In On WSFS Financial

A number of hedge funds have recently bought and sold shares of WSFS. Jupiter Asset Management Ltd. purchased a new position in shares of WSFS Financial in the 1st quarter worth about $1,253,000. Wedge Capital Management L L P NC grew its holdings in WSFS Financial by 29.2% during the second quarter. Wedge Capital Management L L P NC now owns 82,371 shares of the bank’s stock valued at $3,871,000 after purchasing an additional 18,636 shares during the period. Norges Bank purchased a new stake in WSFS Financial in the fourth quarter worth $31,369,000. BNP Paribas Financial Markets raised its stake in shares of WSFS Financial by 51.4% in the first quarter. BNP Paribas Financial Markets now owns 30,156 shares of the bank’s stock valued at $1,361,000 after buying an additional 10,234 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of WSFS Financial by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock valued at $331,246,000 after buying an additional 372,402 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

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.