FY2024 EPS Estimates for WSFS Financial Cut by DA Davidson

WSFS Financial Co. (NASDAQ:WSFS) – Investment analysts at DA Davidson decreased their FY2024 EPS estimates for WSFS Financial in a research note issued to investors on Thursday, December 19th. DA Davidson analyst M. Navas now expects that the bank will post earnings per share of $4.19 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 released its earnings results on Thursday, October 24th. The bank reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. WSFS Financial had a net margin of 18.78% and a return on equity of 10.56%. The company had revenue of $267.61 million for the quarter, compared to analysts’ expectations of $260.35 million. During the same quarter last year, the business earned $1.23 EPS. The firm’s revenue was up .6% compared to the same quarter last year.

WSFS has been the subject of a number of other research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $54.00 price objective (down previously from $58.00) on shares of WSFS Financial in a research note on Tuesday, October 29th. Janney Montgomery Scott reiterated a “neutral” rating on shares of WSFS Financial in a research note on Monday, October 28th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, WSFS Financial currently has an average rating of “Hold” and a consensus price target of $59.75.

WSFS Financial Trading Up 0.6 %

Shares of NASDAQ WSFS opened at $52.90 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 0.86. The business’s 50 day moving average price is $55.56 and its 200-day moving average price is $51.96. WSFS Financial has a fifty-two week low of $40.19 and a fifty-two week high of $62.75. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 12.08 and a beta of 1.06.

WSFS Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a yield of 1.13%. WSFS Financial’s dividend payout ratio (DPR) is presently 13.70%.

Institutional Trading of WSFS Financial

A number of large investors have recently made changes to their positions in the company. Mill Creek Capital Advisors LLC acquired a new stake in WSFS Financial during the 3rd quarter worth $718,000. Jane Street Group LLC lifted its position in WSFS Financial by 47.9% during the third quarter. Jane Street Group LLC now owns 114,154 shares of the bank’s stock worth $5,821,000 after buying an additional 36,990 shares during the period. Victory Capital Management Inc. boosted its holdings in WSFS Financial by 30.6% in the third quarter. Victory Capital Management Inc. now owns 36,773 shares of the bank’s stock valued at $1,875,000 after acquiring an additional 8,617 shares during 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 holdings in WSFS Financial by 34.1% during the 2nd quarter. Sei Investments Co. now owns 48,343 shares of the bank’s stock valued at $2,272,000 after purchasing an additional 12,298 shares in the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

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.