WSFS Financial Co. (NASDAQ:WSFS) – Equities researchers at Boenning Scattergood raised their FY2018 earnings estimates for shares of WSFS Financial in a report issued on Wednesday. Boenning Scattergood analyst M. Schultheis now forecasts that the bank will post earnings per share of $3.27 for the year, up from their previous forecast of $2.77. Boenning Scattergood has a “Buy” rating on the stock. Boenning Scattergood also issued estimates for WSFS Financial’s FY2019 earnings at $3.68 EPS.
WSFS has been the topic of a number of other research reports. BidaskClub cut WSFS Financial from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $50.00 target price on shares of WSFS Financial in a research report on Tuesday, October 24th. Finally, ValuEngine cut WSFS Financial from a “buy” rating to a “hold” rating in a research report on Saturday, November 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $51.33.
WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Monday, October 23rd. The bank reported $0.64 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.01). WSFS Financial had a return on equity of 10.93% and a net margin of 21.27%. The firm had revenue of $87.80 million for the quarter, compared to analyst estimates of $56.86 million. During the same period in the prior year, the business posted $0.41 EPS. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year.
In other news, EVP S James Mazarakis sold 1,868 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $51.49, for a total transaction of $96,183.32. Following the sale, the executive vice president now directly owns 42,995 shares in the company, valued at $2,213,812.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Patrick Joseph Ward sold 2,070 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $48.52, for a total value of $100,436.40. Following the sale, the executive vice president now owns 90,589 shares in the company, valued at $4,395,378.28. The disclosure for this sale can be found here. Insiders own 4.89% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its stake in shares of WSFS Financial by 28.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 784,697 shares of the bank’s stock valued at $35,582,000 after purchasing an additional 175,695 shares during the period. Macquarie Group Ltd. raised its stake in WSFS Financial by 25.1% during the second quarter. Macquarie Group Ltd. now owns 781,288 shares of the bank’s stock valued at $35,431,000 after buying an additional 156,617 shares during the last quarter. Thrivent Financial For Lutherans raised its stake in WSFS Financial by 208.0% during the second quarter. Thrivent Financial For Lutherans now owns 183,504 shares of the bank’s stock valued at $8,322,000 after buying an additional 123,926 shares during the last quarter. Northern Trust Corp raised its stake in WSFS Financial by 7.5% during the second quarter. Northern Trust Corp now owns 1,074,688 shares of the bank’s stock valued at $48,738,000 after buying an additional 75,082 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in WSFS Financial by 8.3% during the second quarter. The Manufacturers Life Insurance Company now owns 896,610 shares of the bank’s stock valued at $40,662,000 after buying an additional 68,797 shares during the last quarter. Institutional investors own 80.48% of the company’s stock.
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About WSFS Financial
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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