WSFS Financial Corporation (WSFS) Expected to Post Quarterly Sales of $88.30 Million
Brokerages expect that WSFS Financial Corporation (NASDAQ:WSFS) will post sales of $88.30 million for the current quarter, according to Zacks. Two analysts have issued estimates for WSFS Financial Corporation’s earnings. The highest sales estimate is $89.04 million and the lowest is $87.57 million. WSFS Financial Corporation reported sales of $75.87 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 16.4%. The company is expected to announce its next earnings results on Thursday, October 26th.
On average, analysts expect that WSFS Financial Corporation will report full-year sales of $88.30 million for the current financial year, with estimates ranging from $341.81 million to $346.66 million. For the next year, analysts forecast that the business will report sales of $374.58 million per share, with estimates ranging from $369.21 million to $379.94 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow WSFS Financial Corporation.
WSFS Financial Corporation (NASDAQ:WSFS) last announced its quarterly earnings results on Thursday, July 27th. The bank reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.01. The company had revenue of $54.31 million for the quarter, compared to analyst estimates of $54.83 million. WSFS Financial Corporation had a net margin of 19.96% and a return on equity of 10.44%. WSFS Financial Corporation’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter last year, the business earned $0.58 EPS.
Several analysts recently commented on the company. BidaskClub upgraded WSFS Financial Corporation from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Boenning Scattergood reiterated a “buy” rating and issued a $49.00 target price on shares of WSFS Financial Corporation in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. WSFS Financial Corporation currently has a consensus rating of “Hold” and an average target price of $51.75.
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WSFS Financial Corporation (NASDAQ WSFS) opened at 45.80 on Friday. The firm has a 50 day moving average of $44.29 and a 200-day moving average of $45.30. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 20.96 and a beta of 1.20. WSFS Financial Corporation has a one year low of $31.90 and a one year high of $50.55.
The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Wednesday, August 9th. WSFS Financial Corporation’s payout ratio is presently 12.73%.
In other WSFS Financial Corporation news, EVP Peggy H. Eddens sold 8,580 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $44.29, for a total transaction of $380,008.20. Following the transaction, the executive vice president now directly owns 27,659 shares in the company, valued at approximately $1,225,017.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP S James Mazarakis sold 7,161 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $44.86, for a total value of $321,242.46. Following the transaction, the executive vice president now owns 48,288 shares in the company, valued at $2,166,199.68. The disclosure for this sale can be found here. Insiders sold 16,240 shares of company stock worth $723,172 over the last quarter. 4.89% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of WSFS. Russell Investments Group Ltd. boosted its holdings in shares of WSFS Financial Corporation by 13.9% during the 1st quarter. Russell Investments Group Ltd. now owns 62,983 shares of the bank’s stock worth $2,894,000 after buying an additional 7,697 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of WSFS Financial Corporation by 25.1% during the 1st quarter. First Trust Advisors LP now owns 100,239 shares of the bank’s stock worth $4,606,000 after buying an additional 20,102 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of WSFS Financial Corporation by 8.8% during the 1st quarter. Advisors Asset Management Inc. now owns 6,425 shares of the bank’s stock worth $295,000 after buying an additional 519 shares in the last quarter. US Bancorp DE boosted its holdings in shares of WSFS Financial Corporation by 12.7% during the 1st quarter. US Bancorp DE now owns 3,290 shares of the bank’s stock worth $151,000 after buying an additional 371 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of WSFS Financial Corporation by 6.1% during the 1st quarter. Swiss National Bank now owns 49,000 shares of the bank’s stock worth $2,252,000 after buying an additional 2,800 shares in the last quarter. Hedge funds and other institutional investors own 78.40% of the company’s stock.
About WSFS Financial Corporation
WSFS Financial Corporation is a savings and loan holding company. The Company’s subsidiary is Wilmington Savings Fund Society, FSB (WSFS Bank or the Bank), which is the bank and trust company. It operates in three segments: WSFS Bank, Cash Connect and Wealth Management. The WSFS Bank segment provides loans and other financial products to commercial and retail customers.
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