WSFS Financial (NASDAQ:WSFS) Announces Earnings Results

WSFS Financial (NASDAQ:WSFS) issued its earnings results on Thursday. The bank reported $1.08 EPS for the quarter, meeting analysts’ consensus estimates of $1.08, Briefing.com reports. The company had revenue of $267.61 million during the quarter, compared to the consensus estimate of $260.35 million. WSFS Financial had a return on equity of 11.47% and a net margin of 20.04%. WSFS Financial’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 earnings per share.

WSFS Financial Stock Performance

Shares of NASDAQ:WSFS traded down $0.33 on Friday, hitting $50.40. The company’s stock had a trading volume of 63,808 shares, compared to its average volume of 270,059. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 11.22 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 12 month low of $33.69 and a 12 month high of $58.59. The stock’s 50-day moving average is $51.49 and its two-hundred day moving average is $48.49.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Piper Sandler raised their price target on WSFS Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. DA Davidson boosted their price target on shares of WSFS Financial from $59.00 to $68.00 and gave the company a “buy” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods increased their price objective on shares of WSFS Financial from $53.00 to $61.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Finally, Stephens boosted their target price on shares of WSFS Financial from $54.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, July 29th.

Insider Activity at WSFS Financial

In related news, EVP Stephen P. Clark sold 12,663 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $56.52, for a total value of $715,712.76. Following the completion of the sale, the executive vice president now owns 25,671 shares of the company’s stock, valued at $1,450,924.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.29% of the company’s stock.

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.