$93.63 Million in Sales Expected for WSFS Financial Co. (WSFS) This Quarter

Wall Street brokerages expect WSFS Financial Co. (NASDAQ:WSFS) to report $93.63 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for WSFS Financial’s earnings. The lowest sales estimate is $93.22 million and the highest is $94.04 million. WSFS Financial reported sales of $85.99 million during the same quarter last year, which indicates a positive year over year growth rate of 8.9%. The business is expected to announce its next earnings report on Thursday, July 26th.

According to Zacks, analysts expect that WSFS Financial will report full year sales of $392.84 million for the current fiscal year, with estimates ranging from $390.80 million to $394.87 million. For the next fiscal year, analysts forecast that the business will report sales of $407.56 million per share, with estimates ranging from $401.66 million to $413.46 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover WSFS Financial.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings data on Monday, April 23rd. The bank reported $0.76 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.76. WSFS Financial had a return on equity of 12.03% and a net margin of 19.23%. The business had revenue of $105.18 million during the quarter, compared to analyst estimates of $88.90 million.

Several brokerages recently issued reports on WSFS. Merion Capital Group increased their price objective on WSFS Financial from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. BidaskClub lowered WSFS Financial from a “hold” rating to a “sell” rating in a report on Wednesday, May 9th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $55.00 price objective on shares of WSFS Financial in a report on Wednesday, January 24th. DA Davidson increased their price objective on WSFS Financial to $64.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. They noted that the move was a valuation call. Finally, Sandler O’Neill reiterated a “buy” rating and set a $57.00 price objective on shares of WSFS Financial in a report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $56.50.

Shares of NASDAQ:WSFS traded up $0.60 during midday trading on Friday, hitting $52.20. 100,246 shares of the stock were exchanged, compared to its average volume of 83,079. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.08. WSFS Financial has a 52-week low of $51.15 and a 52-week high of $51.55. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 1.28 and a beta of 1.24.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Shareholders of record on Friday, May 11th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.84%. This is an increase from WSFS Financial’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, May 10th. WSFS Financial’s dividend payout ratio is presently 17.19%.

In other WSFS Financial news, EVP S James Mazarakis sold 1,534 shares of the stock in a transaction on Wednesday, April 25th. The shares were sold at an average price of $51.64, for a total transaction of $79,215.76. Following the transaction, the executive vice president now directly owns 39,081 shares of the company’s stock, valued at $2,018,142.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas W. Kearney sold 1,569 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $48.47, for a total transaction of $76,049.43. Following the transaction, the executive vice president now directly owns 17,527 shares in the company, valued at $849,533.69. The disclosure for this sale can be found here. Insiders have sold 94,940 shares of company stock worth $4,820,992 over the last three months. Company insiders own 4.89% of the company’s stock.

Large investors have recently modified their holdings of the company. Xact Kapitalforvaltning AB acquired a new stake in shares of WSFS Financial in the fourth quarter valued at about $265,000. A.R.T. Advisors LLC acquired a new stake in shares of WSFS Financial in the first quarter valued at about $301,000. Cigna Investments Inc. New acquired a new stake in shares of WSFS Financial in the first quarter valued at about $355,000. Barclays PLC grew its position in shares of WSFS Financial by 68.6% in the first quarter. Barclays PLC now owns 8,626 shares of the bank’s stock valued at $413,000 after purchasing an additional 3,509 shares during the last quarter. Finally, Aperio Group LLC grew its position in shares of WSFS Financial by 47.2% in the fourth quarter. Aperio Group LLC now owns 9,971 shares of the bank’s stock valued at $477,000 after purchasing an additional 3,198 shares during the last quarter. 79.93% of the stock is currently owned by institutional investors.

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. The company offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as jumbo certificates of deposit.

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Earnings History and Estimates for WSFS Financial (NASDAQ:WSFS)

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