WSFS Financial (NASDAQ:WSFS) Issues Quarterly Earnings Results

WSFS Financial (NASDAQ:WSFS) posted its quarterly earnings data on Thursday. The bank reported $1.08 EPS for the quarter, meeting the consensus estimate of $1.08, Briefing.com reports. The firm had revenue of $267.61 million during the quarter, compared to analyst estimates of $260.35 million. WSFS Financial had a net margin of 20.04% and a return on equity of 11.47%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the business posted $1.23 EPS.

WSFS Financial Stock Performance

WSFS Financial stock traded down $1.18 during mid-day trading on Friday, reaching $49.55. The company’s stock had a trading volume of 100,354 shares, compared to its average volume of 270,200. WSFS Financial has a 12-month low of $33.69 and a 12-month high of $58.59. The company has a market capitalization of $2.94 billion, a P/E ratio of 11.22 and a beta of 1.01. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s fifty day moving average price is $51.49 and its two-hundred day moving average price is $48.49.

Insider Activity at WSFS Financial

In related news, EVP Stephen P. Clark sold 12,663 shares of WSFS Financial stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $56.52, for a total value of $715,712.76. Following the completion of the transaction, the executive vice president now directly owns 25,671 shares in the company, valued at approximately $1,450,924.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.29% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

WSFS has been the subject of several analyst reports. Piper Sandler increased their price objective on shares of WSFS Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Stephens raised their price target on shares of WSFS Financial from $54.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. DA Davidson raised their price target on shares of WSFS Financial from $59.00 to $68.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods raised their price target on shares of WSFS Financial from $53.00 to $61.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

About WSFS Financial

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.