DA Davidson Increases Earnings Estimates for WSFS Financial

WSFS Financial Co. (NASDAQ:WSFS) – Analysts at DA Davidson upped their FY2024 earnings per share estimates for WSFS Financial in a report released on Wednesday, October 23rd. DA Davidson analyst M. Navas now anticipates that the bank will post earnings of $4.35 per share for the year, up from their prior estimate of $4.33. DA Davidson has a “Buy” rating and a $68.00 price objective on the stock. The consensus estimate for WSFS Financial’s current full-year earnings is $4.31 per share. DA Davidson also issued estimates for WSFS Financial’s FY2025 earnings at $4.40 EPS.

A number of other research analysts have also recently commented on WSFS. Piper Sandler upped their price objective on WSFS Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Stephens upped their price target on WSFS Financial from $54.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods increased their price target on WSFS Financial from $53.00 to $61.00 and gave the stock a “market perform” rating in a report on Monday, July 29th.

WSFS Financial Stock Performance

NASDAQ:WSFS opened at $50.73 on Friday. The company’s 50-day moving average is $51.49 and its two-hundred day moving average is $48.49. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 11.22 and a beta of 1.01. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.86 and a quick ratio of 0.86. WSFS Financial has a 1-year low of $33.12 and a 1-year high of $58.59.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. WSFS Financial had a net margin of 20.04% and a return on equity of 11.47%. The firm had revenue of $266.00 million during the quarter, compared to analyst estimates of $254.48 million. During the same quarter in the prior year, the firm posted $1.16 earnings per share. WSFS Financial’s quarterly revenue was up 7.0% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC lifted its holdings in WSFS Financial by 69.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 7,810 shares of the bank’s stock worth $353,000 after buying an additional 3,204 shares in the last quarter. Diversified Trust Co raised its stake in shares of WSFS Financial by 41.6% in the first quarter. Diversified Trust Co now owns 11,157 shares of the bank’s stock valued at $504,000 after acquiring an additional 3,280 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in WSFS Financial by 41.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 235,953 shares of the bank’s stock valued at $10,651,000 after purchasing an additional 69,527 shares during the period. Principal Financial Group Inc. grew its stake in WSFS Financial by 7.8% during the 1st quarter. Principal Financial Group Inc. now owns 341,267 shares of the bank’s stock worth $15,405,000 after purchasing an additional 24,658 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in WSFS Financial by 51.4% during the 1st quarter. BNP Paribas Financial Markets now owns 30,156 shares of the bank’s stock worth $1,361,000 after purchasing an additional 10,234 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Insider Activity at WSFS Financial

In other news, EVP Stephen P. Clark sold 12,663 shares of WSFS Financial stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $56.52, for a total value of $715,712.76. Following the completion of the sale, the executive vice president now directly owns 25,671 shares of the company’s stock, valued at approximately $1,450,924.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.29% of the stock is owned by insiders.

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.