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 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04, Briefing.com reports. The firm had revenue of $266.00 million during the quarter, compared to the consensus estimate of $254.48 million. WSFS Financial had a return on equity of 11.94% and a net margin of 20.73%. WSFS Financial’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.16 earnings per share.

WSFS Financial Stock Down 0.4 %

NASDAQ WSFS traded down $0.23 on Friday, hitting $56.86. 520,323 shares of the stock traded hands, compared to its average volume of 275,344. The stock has a 50-day moving average of $46.82 and a 200 day moving average of $44.82. WSFS Financial has a twelve month low of $33.12 and a twelve month high of $58.59. The company has a market capitalization of $3.42 billion, a P/E ratio of 12.69 and a beta of 1.02. 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 Dividend Announcement

The company also recently disclosed 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. This represents a $0.60 annualized dividend and a yield of 1.06%. The ex-dividend date is Friday, August 9th. WSFS Financial’s payout ratio is currently 13.39%.

Insider Buying and Selling at WSFS Financial

In other news, EVP Stephen P. Clark sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $46.61, for a total transaction of $139,830.00. Following the sale, the executive vice president now directly owns 25,671 shares in the company, valued at approximately $1,196,525.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.