WSFS Financial (NASDAQ:WSFS) Announces Earnings Results

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

WSFS Financial Stock Down 2.3 %

Shares of WSFS stock traded down $1.18 on Friday, reaching $49.55. 100,354 shares of the company were exchanged, compared to its average volume of 270,200. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 11.22 and a beta of 1.01. The company has a 50-day moving average of $51.49 and a 200-day moving average of $48.49. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.86 and a quick ratio of 0.86. WSFS Financial has a one year low of $33.69 and a one year high of $58.59.

Wall Street Analyst Weigh In

WSFS has been the topic of a number of research analyst reports. DA Davidson upped their price target 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. Keefe, Bruyette & Woods upped their price target on shares of 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 upped their price target 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. Finally, Piper Sandler increased their price objective on shares of WSFS Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th.

Insider Transactions at WSFS Financial

In related news, EVP Stephen P. Clark sold 12,663 shares of the firm’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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.29% of the company’s stock.

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.