“ECPG reported $1.33 in adjusted 2Q18 EPS, the top end of the pre-announced range (7/16). There were moving pieces, including an $18M valuation reversal, $7M of derivative MTM loss Cabot transaction hedges, and a discretionary marketing/mailing initiative (undisclosed amount). Thus, a lot of noise, but the underlying trends continue to move in the right direction, and ECPG continues to execute well. With its locked- in flow arrangements and leading positions in the US/UK markets where supply continues to increase, the company should be well positioned to continue to grow earnings. We continue to like the story and recommend investors take advantage of the fact that the stock is down ~20% since 3/31 as the fundamentals remain on track.”,” the firm’s analyst commented.
A number of other analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of WSFS Financial from a hold rating to a buy rating and set a $58.00 target price on the stock in a report on Friday, April 27th. BidaskClub upgraded shares of WSFS Financial from a sell rating to a hold rating in a report on Friday, May 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $60.00.
WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Monday, July 23rd. The bank reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.08. WSFS Financial had a net margin of 20.57% and a return on equity of 13.02%. The firm had revenue of $95.98 million for the quarter, compared to the consensus estimate of $93.63 million. analysts expect that WSFS Financial will post 3.6 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 24th. Investors of record on Friday, August 10th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, August 9th. This represents a $0.44 annualized dividend and a yield of 0.87%. WSFS Financial’s payout ratio is 17.19%.
In related news, CEO Mark A. Turner sold 40,520 shares of the company’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $51.61, for a total transaction of $2,091,237.20. Following the transaction, the chief executive officer now directly owns 143,662 shares in the company, valued at approximately $7,414,395.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark A. Turner sold 12,026 shares of the company’s stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $51.07, for a total transaction of $614,167.82. Following the transaction, the chief executive officer now owns 143,662 shares in the company, valued at $7,336,818.34. The disclosure for this sale can be found here. Insiders have sold a total of 294,782 shares of company stock worth $15,782,824 over the last quarter. 5.73% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its position in WSFS Financial by 41.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 149,701 shares of the bank’s stock valued at $7,978,000 after buying an additional 43,504 shares during the period. Dimensional Fund Advisors LP boosted its position in WSFS Financial by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,284,706 shares of the bank’s stock valued at $68,476,000 after buying an additional 14,121 shares during the period. BlackRock Inc. boosted its position in WSFS Financial by 8.4% in the 2nd quarter. BlackRock Inc. now owns 2,141,028 shares of the bank’s stock valued at $114,117,000 after buying an additional 165,476 shares during the period. Standard Life Aberdeen plc boosted its position in WSFS Financial by 5.9% in the 2nd quarter. Standard Life Aberdeen plc now owns 1,409,337 shares of the bank’s stock valued at $75,153,000 after buying an additional 79,039 shares during the period. Finally, GSA Capital Partners LLP boosted its position in WSFS Financial by 90.2% in the 2nd quarter. GSA Capital Partners LLP now owns 10,267 shares of the bank’s stock valued at $547,000 after buying an additional 4,869 shares during the period. 79.67% of the stock is 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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