WSFS Financial (NASDAQ:WSFS) Announces Earnings Results, Beats Estimates By $0.04 EPS

WSFS Financial (NASDAQ:WSFS) issued its quarterly earnings results on Thursday. The bank reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04, Briefing.com reports. The firm had revenue of $266.00 million for the quarter, compared to analysts’ expectations of $254.48 million. WSFS Financial had a return on equity of 11.57% and a net margin of 20.04%. WSFS Financial’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS.

WSFS Financial Stock Down 0.4 %

NASDAQ:WSFS traded down $0.23 on Friday, hitting $56.86. 520,323 shares of the company’s stock traded hands, compared to its average volume of 325,520. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.46. WSFS Financial has a 1 year low of $33.12 and a 1 year high of $58.59. The firm has a 50-day moving average price of $47.03 and a 200-day moving average price of $44.91. The company has a market cap of $3.42 billion, a PE ratio of 12.69 and a beta of 1.02.

WSFS Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.60 annualized dividend and a yield of 1.06%. WSFS Financial’s dividend payout ratio (DPR) is presently 13.39%.

Insider Buying and Selling at WSFS Financial

In other WSFS Financial news, EVP Stephen P. Clark sold 3,000 shares of WSFS Financial stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $46.61, for a total transaction of $139,830.00. Following the transaction, the executive vice president now owns 25,671 shares of the company’s stock, valued at approximately $1,196,525.31. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.29% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler lifted their price target on WSFS Financial from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 22nd.

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.