WSFS Financial (NASDAQ:WSFS) Releases Earnings Results, Beats Estimates By $0.02 EPS

WSFS Financial (NASDAQ:WSFS - Get Free Report) announced its quarterly earnings results on Thursday. The bank reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.06 by $0.02, Briefing.com reports. The company had revenue of $267.61 million for the quarter, compared to the consensus estimate of $260.35 million. WSFS Financial had a net margin of 20.04% and a return on equity of 11.47%. WSFS Financial's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 EPS.

WSFS Financial Trading Down 3.2 %

Shares of NASDAQ WSFS traded down $1.63 during trading on Friday, reaching $49.10. The stock had a trading volume of 280,864 shares, compared to its average volume of 271,107. The business's 50-day moving average price is $51.45 and its 200-day moving average price is $48.60. 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 fifty-two week low of $33.69 and a fifty-two week high of $58.59. The company has a market cap of $2.95 billion, a P/E ratio of 10.96 and a beta of 1.01.

WSFS Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.15 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.60 annualized dividend and a yield of 1.22%. WSFS Financial's dividend payout ratio (DPR) is currently 13.39%.

Wall Street Analyst Weigh In

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

Insider Activity at WSFS Financial

In other WSFS Financial news, EVP Stephen P. Clark sold 12,663 shares of the firm's stock in a transaction dated Tuesday, July 30th. The stock was 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 approximately $1,450,924.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.29% of the stock is currently owned by company insiders.

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.