WSFS Financial (NASDAQ:WSFS) Announces Earnings Results, Beats Expectations By $0.17 EPS

WSFS Financial (NASDAQ:WSFS) posted its quarterly earnings data on Monday. The bank reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.17, FiscalAI reports. The company had revenue of $90.08 million for the quarter, compared to analyst estimates of $267.36 million. WSFS Financial had a return on equity of 10.60% and a net margin of 20.44%.

WSFS Financial Stock Up 0.3%

Shares of WSFS traded up $0.18 on Monday, hitting $57.92. The company’s stock had a trading volume of 375,665 shares, compared to its average volume of 339,268. The firm’s fifty day moving average price is $56.38 and its 200-day moving average price is $55.65. WSFS Financial has a fifty-two week low of $42.44 and a fifty-two week high of $60.35. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 11.94 and a beta of 0.80.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. TD Cowen reiterated a “buy” rating on shares of WSFS Financial in a report on Wednesday, January 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of WSFS Financial in a research note on Wednesday. Piper Sandler set a $62.00 price target on shares of WSFS Financial and gave the stock a “neutral” rating in a research note on Wednesday, December 17th. Finally, DA Davidson lowered shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.40.

Hedge Funds Weigh In On WSFS Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brevan Howard Capital Management LP boosted its holdings in shares of WSFS Financial by 144.2% in the 2nd quarter. Brevan Howard Capital Management LP now owns 10,653 shares of the bank’s stock valued at $586,000 after buying an additional 6,290 shares during the last quarter. Glenmede Investment Management LP increased its holdings in WSFS Financial by 8.6% during the third quarter. Glenmede Investment Management LP now owns 14,224 shares of the bank’s stock worth $767,000 after buying an additional 1,123 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in WSFS Financial by 1.2% during the third quarter. CANADA LIFE ASSURANCE Co now owns 57,066 shares of the bank’s stock worth $3,096,000 after acquiring an additional 687 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in WSFS Financial by 147.2% in the third quarter. BNP Paribas Financial Markets now owns 15,667 shares of the bank’s stock valued at $845,000 after acquiring an additional 9,328 shares during the last quarter. Finally, Gamco Investors INC. ET AL bought a new position in shares of WSFS Financial in the 2nd quarter valued at about $875,000. 88.49% of the stock is owned by institutional investors and hedge funds.

WSFS Financial Company Profile

WSFS Financial Corporation is the bank holding company for WSFS Bank, a regional financial institution headquartered in Wilmington, Delaware. The company traces its roots to the Safe Deposit & Trust Company, founded in 1832, and formally organized as WSFS Financial in the mid-1980s. Over its long history, WSFS has grown through a combination of organic expansion and selective acquisitions to serve a broad base of individual, commercial and institutional clients.

WSFS Bank offers a full suite of banking and financial services, including retail and commercial deposit accounts, commercial and industrial lending, real estate financing, and treasury management solutions.