Brokerages forecast that WSFS Financial Co. (NASDAQ:WSFS) will announce $159.92 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for WSFS Financial’s earnings. The lowest sales estimate is $156.93 million and the highest is $162.90 million. WSFS Financial posted sales of $157.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 1.9%. The company is scheduled to report its next quarterly earnings report after the market closes on Monday, April 26th.
On average, analysts expect that WSFS Financial will report full year sales of $624.12 million for the current year. For the next year, analysts forecast that the business will report sales of $633.15 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow WSFS Financial.
WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings results on Sunday, January 24th. The bank reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.25. The business had revenue of $169.63 million for the quarter, compared to analysts’ expectations of $159.72 million. WSFS Financial had a net margin of 13.83% and a return on equity of 4.91%.
Several analysts have recently issued reports on WSFS shares. Zacks Investment Research cut shares of WSFS Financial from a “buy” rating to a “hold” rating in a research report on Thursday. Boenning Scattergood reaffirmed a “neutral” rating on shares of WSFS Financial in a report on Wednesday, March 10th. Piper Sandler reaffirmed a “neutral” rating and issued a $55.00 target price (up previously from $50.00) on shares of WSFS Financial in a report on Monday, March 8th. Keefe, Bruyette & Woods cut shares of WSFS Financial from an “outperform” rating to a “market perform” rating and set a $50.00 target price on the stock. in a report on Thursday, February 25th. Finally, DA Davidson reaffirmed a “neutral” rating on shares of WSFS Financial in a report on Wednesday, March 17th. Five analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average price target of $54.00.
Shares of WSFS traded up $0.55 during mid-day trading on Monday, hitting $50.68. 281,526 shares of the company’s stock were exchanged, compared to its average volume of 598,541. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 25.73 and a beta of 1.36. WSFS Financial has a fifty-two week low of $21.00 and a fifty-two week high of $55.18. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.92 and a current ratio of 0.93. The stock’s 50-day moving average is $50.75 and its 200-day moving average is $41.89.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 25th. Investors of record on Thursday, February 11th were issued a $0.12 dividend. The ex-dividend date was Wednesday, February 10th. This represents a $0.48 annualized dividend and a yield of 0.95%. WSFS Financial’s dividend payout ratio (DPR) is 12.83%.
In other WSFS Financial news, Director Mark A. Turner sold 40,415 shares of the firm’s stock in a transaction that occurred on Thursday, March 11th. The shares were sold at an average price of $52.22, for a total transaction of $2,110,471.30. Following the sale, the director now owns 103,654 shares of the company’s stock, valued at $5,412,811.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Richard Wright sold 3,099 shares of the firm’s stock in a transaction that occurred on Friday, March 12th. The stock was sold at an average price of $52.00, for a total transaction of $161,148.00. Following the sale, the executive vice president now directly owns 56,369 shares in the company, valued at approximately $2,931,188. The disclosure for this sale can be found here. 1.85% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in WSFS. Norges Bank purchased a new position in shares of WSFS Financial during the fourth quarter worth approximately $23,374,000. Rothschild & Co. Asset Management US Inc. grew its position in shares of WSFS Financial by 110.3% during the fourth quarter. Rothschild & Co. Asset Management US Inc. now owns 706,502 shares of the bank’s stock worth $31,708,000 after acquiring an additional 370,504 shares during the last quarter. Jennison Associates LLC grew its position in shares of WSFS Financial by 38.8% during the fourth quarter. Jennison Associates LLC now owns 1,011,167 shares of the bank’s stock worth $45,381,000 after acquiring an additional 282,496 shares during the last quarter. BlackRock Inc. grew its position in shares of WSFS Financial by 7.2% during the fourth quarter. BlackRock Inc. now owns 3,764,668 shares of the bank’s stock worth $168,959,000 after acquiring an additional 252,047 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of WSFS Financial by 115.8% during the fourth quarter. Sei Investments Co. now owns 249,851 shares of the bank’s stock worth $11,213,000 after acquiring an additional 134,094 shares during the last quarter. Institutional investors and hedge funds own 83.76% 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. The company offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as jumbo certificates of deposit.
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