WSFS Financial Corporation (WSFS) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS
WSFS Financial Corporation (NASDAQ:WSFS) released its quarterly earnings results on Monday. The bank reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.01), Bloomberg Earnings reports. The company had revenue of $87.80 million during the quarter, compared to the consensus estimate of $56.86 million. WSFS Financial Corporation had a net margin of 19.96% and a return on equity of 10.44%. The business’s revenue was up 16.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 EPS.
Shares of WSFS Financial Corporation (NASDAQ:WSFS) traded down 0.99% during trading on Monday, reaching $50.25. The company’s stock had a trading volume of 81,741 shares. The company has a 50-day moving average price of $47.45 and a 200-day moving average price of $45.92. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 23.00 and a beta of 1.22. WSFS Financial Corporation has a one year low of $31.90 and a one year high of $52.15.
Several analysts recently weighed in on WSFS shares. BidaskClub cut shares of WSFS Financial Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Boenning Scattergood reiterated a “buy” rating and issued a $49.00 price target on shares of WSFS Financial Corporation in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $51.33.
In other news, EVP Peggy H. Eddens sold 8,580 shares of the stock in a transaction 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 owns 27,659 shares of the company’s stock, valued at approximately $1,225,017.11. The transaction was disclosed in a filing 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 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 directly owns 48,288 shares in the company, valued at approximately $2,166,199.68. The disclosure for this sale can be found here. Insiders have sold a total of 16,240 shares of company stock worth $723,172 in the last three months. Corporate insiders own 4.89% of the company’s stock.
WSFS Financial Corporation Company Profile
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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