FY2024 EPS Estimates for WSFS Financial Decreased by Analyst

WSFS Financial Co. (NASDAQ:WSFS) – Analysts at DA Davidson lowered their FY2024 EPS estimates for WSFS Financial in a note issued to investors on Thursday, December 19th. DA Davidson analyst M. Navas now anticipates that the bank will earn $4.19 per share for the year, down from their prior estimate of $4.20. The consensus estimate for WSFS Financial’s current full-year earnings is $4.27 per share.

Several other research firms have also recently commented on WSFS. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $54.00 target price (down previously from $58.00) on shares of WSFS Financial in a research note on Tuesday, October 29th. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of WSFS Financial in a report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $59.75.

WSFS Financial Price Performance

NASDAQ:WSFS opened at $52.90 on Friday. The stock’s fifty day moving average is $55.56 and its two-hundred day moving average is $52.02. WSFS Financial has a 52 week low of $40.19 and a 52 week high of $62.75. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $3.12 billion, a P/E ratio of 12.08 and a beta of 1.06.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings results on Thursday, October 24th. The bank reported $1.08 EPS for the quarter, beating the consensus estimate of $1.06 by $0.02. The firm had revenue of $267.61 million for 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%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.23 EPS.

WSFS Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a $0.15 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a yield of 1.13%. WSFS Financial’s dividend payout ratio (DPR) is presently 13.70%.

Institutional Investors Weigh In On WSFS Financial

A number of hedge funds and other institutional investors have recently modified their holdings of WSFS. Dimensional Fund Advisors LP raised its holdings in WSFS Financial by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,903,255 shares of the bank’s stock worth $183,450,000 after purchasing an additional 110,279 shares during the last quarter. State Street Corp increased its position in shares of WSFS Financial by 3.0% in the third quarter. State Street Corp now owns 3,030,372 shares of the bank’s stock valued at $154,519,000 after buying an additional 87,781 shares in the last quarter. Champlain Investment Partners LLC raised its stake in shares of WSFS Financial by 1.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,299,998 shares of the bank’s stock worth $66,287,000 after buying an additional 14,792 shares during the last quarter. American Century Companies Inc. boosted its position in shares of 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 buying an additional 191,566 shares in the last quarter. Finally, abrdn plc grew its stake in WSFS Financial by 1.0% in the 3rd quarter. abrdn plc now owns 620,808 shares of the bank’s stock valued at $31,655,000 after acquiring an additional 6,380 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

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.