FY2024 EPS Forecast for WSFS Financial Lowered by Analyst

WSFS Financial Co. (NASDAQ:WSFS) – Equities researchers at DA Davidson decreased their FY2024 earnings estimates for WSFS Financial in a research report issued to clients and investors on Tuesday, October 29th. DA Davidson analyst M. Navas now expects that the bank will post earnings per share of $4.20 for the year, down from their previous 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.

A number of other research firms also recently issued reports on WSFS. Piper Sandler raised their price target on shares of WSFS Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Janney Montgomery Scott restated a “neutral” rating on shares of WSFS Financial in a research note on Monday. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $54.00 price target (down from $58.00) on shares of WSFS Financial in a research report on Tuesday. Finally, Stephens boosted their price objective on WSFS Financial from $54.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Three 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 presently has a consensus rating of “Hold” and a consensus price target of $59.75.

WSFS Financial Stock Performance

Shares of WSFS opened at $49.85 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. WSFS Financial has a 12-month low of $34.08 and a 12-month high of $58.59. The business’s fifty day moving average price is $51.40 and its 200 day moving average price is $48.65. The stock has a market capitalization of $2.95 billion, a PE ratio of 11.38 and a beta of 1.01.

WSFS Financial (NASDAQ:WSFS) last released its earnings results on Thursday, October 24th. The bank reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. WSFS Financial had a return on equity of 10.56% and a net margin of 18.78%. The company had revenue of $267.61 million for the quarter, compared to the consensus estimate of $260.35 million. During the same quarter last year, the business posted $1.23 EPS. WSFS Financial’s quarterly revenue was up .6% compared to the same quarter last year.

WSFS Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, November 8th. WSFS Financial’s dividend payout ratio is currently 13.70%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its stake in shares of WSFS Financial by 5,000.0% during the third quarter. International Assets Investment Management LLC now owns 918 shares of the bank’s stock valued at $47,000 after purchasing an additional 900 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of WSFS Financial in the 1st quarter worth approximately $45,000. GAMMA Investing LLC lifted its stake in shares of WSFS Financial by 40.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,023 shares of the bank’s stock worth $48,000 after acquiring an additional 295 shares during the period. Innealta Capital LLC bought a new position in shares of WSFS Financial in the second quarter valued at approximately $114,000. Finally, SG Americas Securities LLC acquired a new position in shares of WSFS Financial during the third quarter valued at approximately $127,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

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.