WSFS Financial Co. (NASDAQ:WSFS - Free Report) - Investment analysts at DA Davidson dropped their FY2024 earnings estimates for WSFS Financial in a report released on Tuesday, October 29th. DA Davidson analyst M. Navas now expects that the bank will post earnings per share of $4.20 for the year, down from their previous forecast of $4.33. DA Davidson currently has a "Buy" rating and a $68.00 price objective 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.
WSFS Financial (NASDAQ:WSFS - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $1.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.06 by $0.02. The business had revenue of $267.61 million during the quarter, compared to analyst estimates of $260.35 million. WSFS Financial had a net margin of 18.78% and a return on equity of 10.56%. The firm's revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.23 earnings per share.
Other analysts have also issued reports about the stock. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $54.00 price target (down from $58.00) on shares of WSFS Financial in a research report on Tuesday. Janney Montgomery Scott reissued a "neutral" rating on shares of WSFS Financial in a research report on Monday. Piper Sandler raised their price objective on shares of WSFS Financial from $48.00 to $55.00 and gave the company a "neutral" rating in a research report on Tuesday, July 30th. Finally, Stephens raised their price objective on shares of WSFS Financial from $54.00 to $62.00 and gave the company an "overweight" rating in a research report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $59.75.
Check Out Our Latest Research Report on WSFS Financial
WSFS Financial Stock Up 0.3 %
Shares of NASDAQ WSFS traded up $0.15 during mid-day trading on Wednesday, reaching $50.00. The company had a trading volume of 197,411 shares, compared to its average volume of 270,460. The stock has a fifty day moving average of $51.38 and a two-hundred day moving average of $48.70. 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 company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 11.67 and a beta of 1.01. WSFS Financial has a 12-month low of $34.54 and a 12-month high of $58.59.
WSFS Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.20%. The ex-dividend date is Friday, November 8th. WSFS Financial's payout ratio is presently 13.70%.
Institutional Trading of WSFS Financial
A number of institutional investors and hedge funds have recently modified their holdings of WSFS. Vanguard Group Inc. lifted its stake in shares of WSFS Financial by 5.3% in the first quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank's stock worth $331,246,000 after buying an additional 372,402 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of WSFS Financial by 27.9% in the second quarter. American Century Companies Inc. now owns 877,467 shares of the bank's stock worth $41,241,000 after buying an additional 191,566 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in shares of WSFS Financial by 14.1% in the first quarter. Champlain Investment Partners LLC now owns 1,293,281 shares of the bank's stock worth $58,379,000 after buying an additional 160,090 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of WSFS Financial by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,903,255 shares of the bank's stock worth $183,450,000 after buying an additional 110,279 shares during the last quarter. Finally, Denali Advisors LLC bought a new position in WSFS Financial during the second quarter worth $3,436,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.
About WSFS Financial
(
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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.
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