WSFS Financial (NASDAQ:WSFS) Announces Quarterly Earnings Results

WSFS Financial (NASDAQ:WSFS) announced its quarterly earnings data on Thursday. The bank reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.16, FiscalAI reports. WSFS Financial had a return on equity of 11.23% and a net margin of 22.55%.The firm had revenue of $284.70 million during the quarter, compared to the consensus estimate of $278.41 million.

WSFS Financial Trading Up 0.1%

Shares of WSFS Financial stock traded up $0.10 during midday trading on Thursday, reaching $78.96. 691,257 shares of the company’s stock traded hands, compared to its average volume of 447,704. The stock has a 50 day moving average of $74.70 and a 200-day moving average of $68.51. WSFS Financial has a 12 month low of $49.92 and a 12 month high of $80.73. The company has a market cap of $4.11 billion, a PE ratio of 14.05 and a beta of 0.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 0.85.

Insiders Place Their Bets

In other WSFS Financial news, CEO Rodger Levenson sold 65,446 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $74.11, for a total transaction of $4,850,203.06. Following the transaction, the chief executive officer directly owned 186,088 shares of the company’s stock, valued at approximately $13,790,981.68. The trade was a 26.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On WSFS Financial

A number of large investors have recently modified their holdings of WSFS. NewEdge Advisors LLC bought a new position in WSFS Financial in the fourth quarter worth about $33,000. Quarry LP boosted its position in WSFS Financial by 159.7% during the 3rd quarter. Quarry LP now owns 813 shares of the bank’s stock valued at $44,000 after acquiring an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of WSFS Financial by 265.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 972 shares of the bank’s stock worth $53,000 after acquiring an additional 706 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of WSFS Financial by 11.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,598 shares of the bank’s stock worth $88,000 after acquiring an additional 163 shares during the period. Finally, Empowered Funds LLC bought a new position in shares of WSFS Financial in the 4th quarter worth approximately $100,000. Institutional investors own 88.49% of the company’s stock.

Wall Street Analyst Weigh In

WSFS has been the topic of several analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $80.00 target price (up from $72.00) on shares of WSFS Financial in a research note on Wednesday, May 6th. TD Cowen reissued a “buy” rating and issued a $82.00 price target (up from $77.00) on shares of WSFS Financial in a report on Wednesday, April 29th. Weiss Ratings restated a “buy (b)” rating on shares of WSFS Financial in a research report on Friday, June 12th. UBS Group set a $76.00 price objective on shares of WSFS Financial in a research note on Monday, April 27th. Finally, Zacks Research downgraded shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.07.

About WSFS Financial

WSFS Financial Corporation is the bank holding company for WSFS Bank, a regional financial institution headquartered in Wilmington, Delaware. The company traces its roots to the Safe Deposit & Trust Company, founded in 1832, and formally organized as WSFS Financial in the mid-1980s. Over its long history, WSFS has grown through a combination of organic expansion and selective acquisitions to serve a broad base of individual, commercial and institutional clients.

WSFS Bank offers a full suite of banking and financial services, including retail and commercial deposit accounts, commercial and industrial lending, real estate financing, and treasury management solutions.