WSFS Financial Co. (WSFS) Expected to Announce Earnings of $0.87 Per Share

Analysts expect WSFS Financial Co. (NASDAQ:WSFS) to report earnings per share (EPS) of $0.87 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for WSFS Financial’s earnings. The lowest EPS estimate is $0.83 and the highest is $0.90. WSFS Financial reported earnings per share of $0.64 in the same quarter last year, which would indicate a positive year-over-year growth rate of 35.9%. The business is expected to report its next quarterly earnings results on Monday, October 22nd.

According to Zacks, analysts expect that WSFS Financial will report full-year earnings of $3.60 per share for the current year, with EPS estimates ranging from $3.38 to $3.93. For the next fiscal year, analysts forecast that the firm will post earnings of $3.78 per share, with EPS estimates ranging from $3.67 to $3.88. Zacks’ earnings per share calculations are an average based on a survey of research analysts that cover WSFS Financial.

WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings results on Monday, July 23rd. The bank reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.08. WSFS Financial had a net margin of 20.57% and a return on equity of 13.02%. The company had revenue of $95.98 million for the quarter, compared to the consensus estimate of $93.63 million.

WSFS has been the subject of several recent research reports. BidaskClub upgraded WSFS Financial from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. Zacks Investment Research raised WSFS Financial from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Friday, April 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $58.80.

In related news, CEO Mark A. Turner sold 12,026 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $51.07, for a total value of $614,167.82. Following the sale, the chief executive officer now directly owns 143,662 shares in the company, valued at approximately $7,336,818.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark A. Turner sold 13,823 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $55.46, for a total value of $766,623.58. Following the completion of the sale, the chief executive officer now owns 136,436 shares in the company, valued at $7,566,740.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 294,782 shares of company stock worth $15,782,824. 4.89% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of WSFS. Tower Bridge Advisors acquired a new position in shares of WSFS Financial during the 2nd quarter valued at $213,000. Amalgamated Bank acquired a new position in shares of WSFS Financial during the 2nd quarter valued at $225,000. Engineers Gate Manager LP acquired a new position in shares of WSFS Financial during the 2nd quarter valued at $252,000. Xact Kapitalforvaltning AB acquired a new position in shares of WSFS Financial during the 4th quarter valued at $265,000. Finally, A.R.T. Advisors LLC acquired a new position in shares of WSFS Financial during the 1st quarter valued at $301,000. Hedge funds and other institutional investors own 79.68% of the company’s stock.

WSFS Financial traded up $0.10, hitting $50.55, during midday trading on Friday, MarketBeat.com reports. The company’s stock had a trading volume of 583,587 shares, compared to its average volume of 196,708. WSFS Financial has a fifty-two week low of $42.45 and a fifty-two week high of $57.70. The company has a current ratio of 1.03, a quick ratio of 1.04 and a debt-to-equity ratio of 1.07. The company has a market cap of $1.60 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 1.17 and a beta of 1.22.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 24th. Investors of record on Friday, August 10th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, August 9th. WSFS Financial’s dividend payout ratio is currently 17.19%.

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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Earnings History and Estimates for WSFS Financial (NASDAQ:WSFS)

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