WSFS Financial FY2024 EPS Forecast Lowered by DA Davidson

WSFS Financial Co. (NASDAQ:WSFS - Free Report) - Research analysts at DA Davidson dropped their FY2024 earnings estimates for shares of WSFS Financial in a research report issued on Thursday, December 19th. DA Davidson analyst M. Navas now anticipates 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 - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $1.08 earnings per share for the quarter, beating 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 the consensus estimate of $260.35 million. During the same quarter in the prior year, the firm earned $1.23 earnings per share. The firm's revenue for the quarter was up .6% compared to the same quarter last year.

A number of other equities research analysts also recently issued reports on the company. Janney Montgomery Scott restated a "neutral" rating on shares of WSFS Financial in a research note on Monday, October 28th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $54.00 target price (down from $58.00) on shares of WSFS Financial in a research report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, WSFS Financial presently has an average rating of "Hold" and a consensus price target of $59.75.

WSFS Financial Stock Performance

Shares of WSFS stock traded up $0.29 on Friday, reaching $52.90. The stock had a trading volume of 863,751 shares, compared to its average volume of 279,622. The stock has a market cap of $3.12 billion, a P/E ratio of 12.08 and a beta of 1.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 0.86. WSFS Financial has a 1 year low of $40.19 and a 1 year high of $62.75. The company has a 50 day simple moving average of $55.52 and a 200 day simple moving average of $51.89.

WSFS Financial Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in shares of WSFS Financial by 5,000.0% during the 3rd quarter. International Assets Investment Management LLC now owns 918 shares of the bank's stock valued at $47,000 after purchasing an additional 900 shares during the last quarter. GAMMA Investing LLC grew its holdings in WSFS Financial by 41.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,451 shares of the bank's stock valued at $74,000 after buying an additional 428 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of WSFS Financial in the 2nd quarter worth about $114,000. SG Americas Securities LLC bought a new position in WSFS Financial during the 3rd quarter valued at about $127,000. Finally, CIBC Asset Management Inc purchased a new stake in WSFS Financial in the 3rd quarter worth about $202,000. Institutional investors own 88.49% 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.