Brokers Issue Forecasts for WSFS Financial FY2024 Earnings

WSFS Financial Co. (NASDAQ:WSFS) – Equities researchers at DA Davidson reduced their FY2024 earnings per share estimates for shares of WSFS Financial in a research note issued on Thursday, December 19th. DA Davidson analyst M. Navas now forecasts that the bank will post earnings of $4.19 per share for the year, down from their previous forecast of $4.20. The consensus estimate for WSFS Financial’s current full-year earnings is $4.27 per share.

WSFS has been the subject of a number of other reports. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $54.00 price objective (down from $58.00) on shares of WSFS Financial in a report on Tuesday, October 29th. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of WSFS Financial in a research note on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, WSFS Financial presently has a consensus rating of “Hold” and a consensus target price of $59.75.

WSFS Financial Price Performance

Shares of NASDAQ:WSFS opened at $52.90 on Friday. The business’s 50 day moving average is $55.56 and its 200-day moving average is $51.96. The firm has a market capitalization of $3.12 billion, a PE ratio of 12.08 and a beta of 1.06. WSFS Financial has a 1-year low of $40.19 and a 1-year high of $62.75. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. lifted its stake in WSFS Financial by 27.9% in the second quarter. American Century Companies Inc. now owns 877,467 shares of the bank’s stock valued at $41,241,000 after buying an additional 191,566 shares during the period. Dimensional Fund Advisors LP increased its stake in WSFS Financial by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,903,255 shares of the bank’s stock valued at $183,450,000 after purchasing an additional 110,279 shares in the last quarter. State Street Corp grew its holdings in shares of WSFS Financial by 3.0% during the third quarter. State Street Corp now owns 3,030,372 shares of the bank’s stock valued at $154,519,000 after buying an additional 87,781 shares during the last quarter. Denali Advisors LLC acquired a new position in WSFS Financial during the 2nd quarter valued at about $3,436,000. Finally, Barclays PLC raised its position in WSFS Financial by 110.8% in the 3rd quarter. Barclays PLC now owns 120,397 shares of the bank’s stock valued at $6,139,000 after buying an additional 63,284 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

WSFS Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Friday, November 8th. WSFS Financial’s dividend payout ratio (DPR) is 13.70%.

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.