Zacks: Analysts Anticipate WSFS Financial Corporation (WSFS) Will Post Quarterly Sales of $88.30 Million
Equities research analysts predict that WSFS Financial Corporation (NASDAQ:WSFS) will announce sales of $88.30 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for WSFS Financial Corporation’s earnings. The lowest sales estimate is $87.57 million and the highest is $89.04 million. WSFS Financial Corporation posted sales of $75.87 million during the same quarter last year, which suggests a positive year-over-year growth rate of 16.4%. The company is scheduled to report its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that WSFS Financial Corporation will report full-year sales of $88.30 million for the current fiscal year, with estimates ranging from $341.81 million to $346.66 million. For the next financial year, analysts forecast that the business will post sales of $374.58 million per share, with estimates ranging from $369.21 million to $379.94 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for WSFS Financial Corporation.
WSFS Financial Corporation (NASDAQ:WSFS) last released its quarterly earnings results on Thursday, July 27th. The bank reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. WSFS Financial Corporation had a net margin of 19.96% and a return on equity of 10.44%. The company had revenue of $54.31 million for the quarter, compared to the consensus estimate of $54.83 million. During the same period in the previous year, the firm earned $0.58 EPS. WSFS Financial Corporation’s revenue was up 17.0% on a year-over-year basis.
A number of brokerages have commented on WSFS. BidaskClub lowered shares of WSFS Financial Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Boenning Scattergood reissued a “buy” rating and set a $49.00 price objective on shares of WSFS Financial Corporation in a report on Friday, July 28th. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. WSFS Financial Corporation currently has an average rating of “Buy” and a consensus target price of $51.33.
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In other news, EVP S James Mazarakis sold 7,161 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were 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 of the company’s stock, valued at approximately $2,166,199.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peggy H. Eddens sold 8,580 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $44.29, for a total transaction of $380,008.20. Following the completion of the transaction, the executive vice president now directly owns 27,659 shares in the company, valued at approximately $1,225,017.11. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,240 shares of company stock worth $723,172. Insiders own 4.89% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new position in shares of WSFS Financial Corporation in the 1st quarter valued at about $110,000. Oppenheimer Asset Management Inc. bought a new position in shares of WSFS Financial Corporation in the 1st quarter valued at about $145,000. US Bancorp DE boosted its stake in shares of WSFS Financial Corporation by 12.7% in the 1st quarter. US Bancorp DE now owns 3,290 shares of the bank’s stock valued at $151,000 after purchasing an additional 371 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of WSFS Financial Corporation by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,977 shares of the bank’s stock valued at $180,000 after purchasing an additional 596 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of WSFS Financial Corporation by 601.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,005 shares of the bank’s stock valued at $182,000 after purchasing an additional 3,434 shares during the last quarter. 78.40% of the stock is currently owned by institutional investors.
WSFS Financial Corporation (WSFS) traded up 0.60% during mid-day trading on Wednesday, hitting $50.15. 7,817 shares of the company’s stock were exchanged. WSFS Financial Corporation has a 52 week low of $31.90 and a 52 week high of $50.55. The stock has a market capitalization of $1.58 billion, a P/E ratio of 23.00 and a beta of 1.22. The firm has a 50 day moving average of $45.92 and a 200 day moving average of $45.61.
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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