Zacks: Analysts Anticipate WSFS Financial Co. (NASDAQ:WSFS) Will Post Quarterly Sales of $211.50 Million

Brokerages expect WSFS Financial Co. (NASDAQ:WSFSGet Rating) to announce $211.50 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for WSFS Financial’s earnings. WSFS Financial reported sales of $155.77 million in the same quarter last year, which indicates a positive year-over-year growth rate of 35.8%. The business is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that WSFS Financial will report full year sales of $866.39 million for the current fiscal year, with estimates ranging from $864.27 million to $868.50 million. For the next fiscal year, analysts expect that the company will report sales of $962.29 million, with estimates ranging from $953.37 million to $971.20 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for WSFS Financial.

WSFS Financial (NASDAQ:WSFSGet Rating) last issued its quarterly earnings results on Thursday, April 21st. The bank reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.14). WSFS Financial had a net margin of 31.02% and a return on equity of 11.89%. The company had revenue of $199.13 million during the quarter, compared to the consensus estimate of $134.16 million. During the same period last year, the company earned $1.39 earnings per share.

WSFS has been the subject of a number of research reports. StockNews.com raised shares of WSFS Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 19th. Piper Sandler raised shares of WSFS Financial from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $56.00 to $51.00 in a report on Monday, April 25th. Zacks Investment Research downgraded shares of WSFS Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 21st. Finally, Stephens reduced their price objective on shares of WSFS Financial from $53.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, April 25th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $51.80.

In related news, Director Nancy J. Foster acquired 1,000 shares of the stock in a transaction on Tuesday, April 26th. The stock was purchased at an average price of $41.69 per share, for a total transaction of $41,690.00. Following the transaction, the director now owns 4,213 shares of the company’s stock, valued at approximately $175,639.97. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, EVP Richard Wright sold 1,973 shares of the firm’s stock in a transaction dated Tuesday, April 19th. The shares were sold at an average price of $42.03, for a total transaction of $82,925.19. Following the completion of the sale, the executive vice president now owns 42,196 shares of the company’s stock, valued at approximately $1,773,497.88. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Large investors have recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new stake in shares of WSFS Financial during the 4th quarter worth approximately $32,000. Quadrant Capital Group LLC boosted its stake in WSFS Financial by 1,032.3% during the 1st quarter. Quadrant Capital Group LLC now owns 702 shares of the bank’s stock worth $33,000 after acquiring an additional 640 shares during the last quarter. Meeder Asset Management Inc. bought a new position in WSFS Financial during the 1st quarter worth approximately $40,000. FourThought Financial LLC bought a new position in WSFS Financial during the 1st quarter worth approximately $74,000. Finally, Harbor Investment Advisory LLC boosted its stake in WSFS Financial by 43.5% during the 1st quarter. Harbor Investment Advisory LLC now owns 2,050 shares of the bank’s stock worth $96,000 after acquiring an additional 621 shares during the last quarter. Institutional investors own 70.92% of the company’s stock.

WSFS Financial stock traded up $1.16 during mid-day trading on Friday, reaching $42.28. The company had a trading volume of 273,560 shares, compared to its average volume of 391,934. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.15. WSFS Financial has a 52 week low of $37.03 and a 52 week high of $56.30. The company has a 50 day moving average of $42.67 and a 200-day moving average of $48.74. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 9.63 and a beta of 1.09.

The company also recently announced a quarterly dividend, which was paid on Friday, May 20th. Investors of record on Friday, May 6th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Thursday, May 5th. WSFS Financial’s dividend payout ratio (DPR) is currently 11.85%.

WSFS Financial Company Profile (Get Rating)

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.

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Earnings History and Estimates for WSFS Financial (NASDAQ:WSFS)

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