FY2024 EPS Estimate for WSFS Financial Reduced by Analyst

WSFS Financial Co. (NASDAQ:WSFS) – Analysts at DA Davidson cut their FY2024 EPS estimates for WSFS Financial in a note issued to investors on Tuesday, October 29th. DA Davidson analyst M. Navas now anticipates that the bank will earn $4.20 per share for the year, down from their prior estimate of $4.33. DA Davidson currently has a “Buy” rating and a $68.00 target price 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.

Several other analysts have also commented on WSFS. Janney Montgomery Scott restated a “neutral” rating on shares of WSFS Financial in a report on Monday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $54.00 target price (down previously from $58.00) on shares of WSFS Financial in a research note on Tuesday. Piper Sandler raised their price target 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 lifted their target price on shares of WSFS Financial from $54.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, WSFS Financial currently has an average rating of “Hold” and an average price target of $59.75.

WSFS Financial Stock Performance

WSFS Financial stock opened at $49.17 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. WSFS Financial has a 1-year low of $34.54 and a 1-year high of $58.59. The firm has a 50-day moving average of $51.35 and a 200-day moving average of $48.71. The firm has a market cap of $2.91 billion, a P/E ratio of 11.23 and a beta of 1.01.

WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Thursday, October 24th. The bank reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. The company 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%. WSFS Financial’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 earnings per share.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of WSFS Financial by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock valued at $331,246,000 after buying an additional 372,402 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of WSFS Financial by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,903,255 shares of the bank’s stock valued at $183,450,000 after buying an additional 110,279 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in WSFS Financial by 14.1% in the 1st quarter. Champlain Investment Partners LLC now owns 1,293,281 shares of the bank’s stock worth $58,379,000 after purchasing an additional 160,090 shares in the last quarter. American Century Companies Inc. lifted its stake in WSFS Financial by 27.9% in the 2nd quarter. American Century Companies Inc. now owns 877,467 shares of the bank’s stock worth $41,241,000 after purchasing an additional 191,566 shares in the last quarter. Finally, abrdn plc lifted its stake in WSFS Financial by 1.0% in the 3rd quarter. abrdn plc now owns 620,808 shares of the bank’s stock worth $31,655,000 after purchasing an additional 6,380 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

WSFS Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Friday, November 8th. WSFS Financial’s dividend payout ratio (DPR) is 13.70%.

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. 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.