FY2024 EPS Estimates for WSFS Financial Co. (NASDAQ:WSFS) Decreased by DA Davidson

WSFS Financial Co. (NASDAQ:WSFS) – Research analysts at DA Davidson reduced their FY2024 earnings estimates for shares of WSFS Financial in a research note issued to investors on Thursday, October 3rd. DA Davidson analyst M. Navas now expects that the bank will earn $4.33 per share for the year, down from their previous forecast of $4.35. DA Davidson has a “Buy” rating and a $68.00 price target on the stock. The consensus estimate for WSFS Financial’s current full-year earnings is $4.32 per share. DA Davidson also issued estimates for WSFS Financial’s FY2025 earnings at $4.25 EPS.

Several other brokerages have also weighed in on WSFS. Stephens upped their target price on shares of WSFS Financial from $54.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Piper Sandler upped their target price on shares of WSFS Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods upped their target price on shares of WSFS Financial from $53.00 to $61.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th.

WSFS Financial Stock Up 1.2 %

Shares of WSFS Financial stock opened at $49.17 on Monday. The company has a market cap of $2.95 billion, a P/E ratio of 10.98 and a beta of 1.01. 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 one year low of $33.12 and a one year high of $58.59. The firm has a fifty day moving average of $51.80 and a two-hundred day moving average of $47.89.

WSFS Financial (NASDAQ:WSFS) last announced 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 company had revenue of $266.00 million during the quarter, compared to the consensus estimate of $254.48 million. WSFS Financial had a net margin of 20.04% and a return on equity of 11.47%. WSFS Financial’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 EPS.

Hedge Funds Weigh In On WSFS Financial

A number of hedge funds have recently made changes to their positions in the business. Handelsbanken Fonder AB raised its stake in shares of WSFS Financial by 9.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 12,305 shares of the bank’s stock valued at $627,000 after acquiring an additional 1,100 shares during the period. SG Americas Securities LLC purchased a new position in shares of WSFS Financial in the 3rd quarter valued at $127,000. Sanctuary Advisors LLC purchased a new position in shares of WSFS Financial in the 2nd quarter valued at $275,000. Algert Global LLC acquired a new stake in WSFS Financial during the 2nd quarter valued at $285,000. Finally, Ascent Group LLC acquired a new stake in WSFS Financial during the 2nd quarter valued at $201,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Insiders Place Their Bets

In other WSFS Financial news, EVP Stephen P. Clark sold 12,663 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 25,671 shares of the company’s stock, valued at $1,450,924.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.29% of the stock is currently owned by insiders.

WSFS Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Friday, August 9th. WSFS Financial’s dividend payout ratio is currently 13.39%.

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. 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.