WSFS Financial (NASDAQ:WSFS) Releases Earnings Results, Beats Estimates By $0.04 EPS

WSFS Financial (NASDAQ:WSFS) posted its earnings results on Thursday. The bank reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04, Briefing.com reports. WSFS Financial had a net margin of 20.73% and a return on equity of 11.94%. The firm had revenue of $266.00 million during the quarter, compared to analyst estimates of $254.48 million. During the same period last year, the firm posted $1.16 earnings per share. WSFS Financial’s revenue for the quarter was up 7.0% compared to the same quarter last year.

WSFS Financial Trading Down 0.4 %

NASDAQ WSFS traded down $0.23 on Friday, hitting $56.86. 520,323 shares of the stock were exchanged, compared to its average volume of 275,344. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a fifty day moving average price of $46.82 and a two-hundred day moving average price of $44.82. The firm has a market capitalization of $3.42 billion, a P/E ratio of 12.69 and a beta of 1.02. WSFS Financial has a 52-week low of $33.12 and a 52-week high of $58.59.

WSFS Financial Announces Dividend

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 of this dividend is Friday, August 9th. WSFS Financial’s payout ratio is 13.39%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler raised their target price on shares of WSFS Financial from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, May 22nd.

Insiders Place Their Bets

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

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.