WSFS Financial Co. (WSFS) Expected to Post Quarterly Sales of $96.92 Million
Brokerages forecast that WSFS Financial Co. (NASDAQ:WSFS) will post sales of $96.92 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for WSFS Financial’s earnings, with estimates ranging from $96.24 million to $97.61 million. WSFS Financial posted sales of $88.57 million during the same quarter last year, which suggests a positive year over year growth rate of 9.4%. The business is scheduled to issue its next earnings report on Monday, October 22nd.
According to Zacks, analysts expect that WSFS Financial will report full year sales of $396.77 million for the current year, with estimates ranging from $395.60 million to $397.94 million. For the next year, analysts expect that the company will post sales of $411.00 million per share, with estimates ranging from $406.62 million to $415.38 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow WSFS Financial.
WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Monday, July 23rd. The bank reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.08. The firm had revenue of $95.98 million during the quarter, compared to analysts’ expectations of $93.63 million. WSFS Financial had a return on equity of 13.02% and a net margin of 20.57%.
WSFS traded up $0.10 during trading on Tuesday, reaching $50.55. 583,587 shares of the stock traded hands, compared to its average volume of 196,708. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 1.17 and a beta of 1.22. WSFS Financial has a fifty-two week low of $42.45 and a fifty-two week high of $57.70. The company has a current ratio of 1.03, a quick ratio of 1.04 and a debt-to-equity ratio of 1.07.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 24th. Shareholders of record on Friday, August 10th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, August 9th. This represents a $0.44 annualized dividend and a yield of 0.87%. WSFS Financial’s dividend payout ratio (DPR) is currently 17.19%.
In other news, CEO Mark A. Turner sold 13,823 shares of WSFS Financial stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $55.46, for a total value of $766,623.58. Following the transaction, the chief executive officer now directly owns 136,436 shares in the company, valued at $7,566,740.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark A. Turner sold 12,026 shares of WSFS Financial stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $51.07, for a total value of $614,167.82. Following the completion of the transaction, the chief executive officer now owns 143,662 shares in the company, valued at $7,336,818.34. The disclosure for this sale can be found here. Insiders sold 294,782 shares of company stock worth $15,782,824 over the last quarter. 4.89% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of WSFS Financial by 8.4% in the second quarter. BlackRock Inc. now owns 2,141,028 shares of the bank’s stock worth $114,117,000 after purchasing an additional 165,476 shares during the period. Standard Life Aberdeen plc lifted its holdings in shares of WSFS Financial by 5.9% during the second quarter. Standard Life Aberdeen plc now owns 1,409,337 shares of the bank’s stock worth $75,153,000 after purchasing an additional 79,039 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of WSFS Financial by 1.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,284,706 shares of the bank’s stock worth $68,476,000 after purchasing an additional 14,121 shares during the period. Northern Trust Corp lifted its holdings in shares of WSFS Financial by 0.4% during the first quarter. Northern Trust Corp now owns 1,078,664 shares of the bank’s stock worth $51,668,000 after purchasing an additional 4,333 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of WSFS Financial by 3.3% during the first quarter. The Manufacturers Life Insurance Company now owns 929,363 shares of the bank’s stock worth $44,517,000 after purchasing an additional 29,611 shares during the period. Institutional investors and hedge funds own 79.68% of the company’s stock.
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. The company offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as jumbo certificates of deposit.
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