Wall Street analysts forecast that WSFS Financial Co. (NASDAQ:WSFS) will announce sales of $88.90 million for the current quarter, Zacks reports. Two analysts have issued estimates for WSFS Financial’s earnings. The highest sales estimate is $89.99 million and the lowest is $87.80 million. WSFS Financial reported sales of $81.20 million in the same quarter last year, which would suggest a positive year over year growth rate of 9.5%. The business is scheduled to announce its next quarterly earnings report on Thursday, April 26th.
On average, analysts expect that WSFS Financial will report full-year sales of $88.90 million for the current fiscal year, with estimates ranging from $374.69 million to $378.03 million. For the next year, analysts forecast that the firm will report sales of $407.29 million per share, with estimates ranging from $403.47 million to $411.11 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover WSFS Financial.
WSFS Financial (NASDAQ:WSFS) last issued its earnings results on Monday, January 22nd. The bank reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.05. WSFS Financial had a return on equity of 11.46% and a net margin of 15.70%. The firm had revenue of $89.90 million for the quarter, compared to analyst estimates of $57.89 million. During the same period last year, the company earned $0.56 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis.
A number of research analysts have recently commented on WSFS shares. Zacks Investment Research raised WSFS Financial from a “hold” rating to a “strong-buy” rating and set a $56.00 price target on the stock in a report on Wednesday, December 27th. BidaskClub lowered WSFS Financial from a “sell” rating to a “strong sell” rating in a report on Saturday, January 6th. Boenning Scattergood reissued a “buy” rating on shares of WSFS Financial in a report on Wednesday, February 28th. Sandler O’Neill reissued a “buy” rating and set a $57.00 price target on shares of WSFS Financial in a report on Tuesday, January 23rd. Finally, Merion Capital Group raised their price target on WSFS Financial from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, January 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $56.17.
In related news, EVP Richard Wright sold 7,500 shares of WSFS Financial stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $50.11, for a total transaction of $375,825.00. Following the transaction, the executive vice president now directly owns 47,952 shares of the company’s stock, valued at $2,402,874.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Paul D. Geraghty sold 10,353 shares of WSFS Financial stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $50.19, for a total value of $519,617.07. Following the transaction, the executive vice president now directly owns 19,743 shares in the company, valued at $990,901.17. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,860 shares of company stock worth $1,933,611. 5.73% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. boosted its position in shares of WSFS Financial by 7.0% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 147,003 shares of the bank’s stock valued at $7,035,000 after purchasing an additional 9,593 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of WSFS Financial by 3.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,242,570 shares of the bank’s stock valued at $60,575,000 after purchasing an additional 36,426 shares during the period. Comerica Bank boosted its position in shares of WSFS Financial by 35.9% in the 4th quarter. Comerica Bank now owns 65,368 shares of the bank’s stock valued at $3,442,000 after purchasing an additional 17,271 shares during the period. Aperio Group LLC boosted its position in shares of WSFS Financial by 47.2% in the 4th 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 period. Finally, Wells Fargo & Company MN boosted its position in shares of WSFS Financial by 44.8% in the 3rd quarter. Wells Fargo & Company MN now owns 77,946 shares of the bank’s stock valued at $3,800,000 after purchasing an additional 24,121 shares during the period. 80.07% of the stock is currently owned by hedge funds and other institutional investors.
Shares of WSFS remained flat at $$48.75 during trading hours on Friday. The stock had a trading volume of 16,115 shares, compared to its average volume of 86,424. The firm has a market capitalization of $1,498.01, a price-to-earnings ratio of 19.00, a price-to-earnings-growth ratio of 1.19 and a beta of 1.24. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.05 and a quick ratio of 1.05. WSFS Financial has a 52 week low of $42.45 and a 52 week high of $53.00.
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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