WSFS Financial Co. (NASDAQ:WSFS) – Equities researchers at Boenning Scattergood issued their Q1 2019 earnings estimates for WSFS Financial in a note issued to investors on Thursday, August 9th. Boenning Scattergood analyst M. Schultheis anticipates that the bank will post earnings of $0.83 per share for the quarter. Boenning Scattergood currently has a “Buy” rating on the stock. Boenning Scattergood also issued estimates for WSFS Financial’s Q4 2019 earnings at $0.93 EPS and FY2020 earnings at $4.10 EPS.
A number of other equities analysts have also commented on WSFS. Stephens set a $58.00 price target on shares of WSFS Financial and gave the stock a “buy” rating in a report on Monday. BidaskClub lowered shares of WSFS Financial from a “buy” rating to a “hold” rating in a report on Saturday, June 30th. Zacks Investment Research raised shares of WSFS Financial from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Wednesday, May 30th. Finally, Sandler O’Neill reissued a “buy” rating and set a $63.00 target price on shares of WSFS Financial in a research note on Sunday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $59.67.
WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings results on Monday, July 23rd. The bank reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.08. The company had revenue of $95.98 million for the quarter, compared to analyst estimates of $93.63 million. WSFS Financial had a net margin of 20.57% and a return on equity of 13.02%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its stake in WSFS Financial by 10.3% during the first quarter. Principal Financial Group Inc. now owns 11,935 shares of the bank’s stock worth $572,000 after buying an additional 1,113 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its stake in WSFS Financial by 13.9% in the first quarter. Dynamic Technology Lab Private Ltd now owns 9,296 shares of the bank’s stock valued at $445,000 after purchasing an additional 1,135 shares in the last quarter. Monarch Partners Asset Management LLC increased its stake in WSFS Financial by 1.8% in the first quarter. Monarch Partners Asset Management LLC now owns 64,195 shares of the bank’s stock valued at $3,075,000 after purchasing an additional 1,140 shares in the last quarter. Citadel Advisors LLC increased its stake in WSFS Financial by 5.6% in the first quarter. Citadel Advisors LLC now owns 29,441 shares of the bank’s stock valued at $1,410,000 after purchasing an additional 1,549 shares in the last quarter. Finally, Rothschild Asset Management Inc. increased its stake in WSFS Financial by 0.9% in the second quarter. Rothschild Asset Management Inc. now owns 262,575 shares of the bank’s stock valued at $13,995,000 after purchasing an additional 2,252 shares in the last quarter. 79.67% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Mark A. Turner sold 40,520 shares of WSFS Financial stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 143,662 shares of the company’s stock, valued at $7,414,395.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark A. Turner sold 55,214 shares of WSFS Financial stock in a transaction on Thursday, June 7th. The stock was sold at an average price of $54.10, for a total transaction of $2,987,077.40. Following the transaction, the chief executive officer now directly owns 137,136 shares of the company’s stock, valued at approximately $7,419,057.60. The disclosure for this sale can be found here. Insiders have sold 282,756 shares of company stock valued at $15,168,657 in the last three months. 5.73% of the stock is owned by insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 24th. Investors of record on Friday, August 10th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Thursday, August 9th. WSFS Financial’s dividend payout ratio is presently 17.19%.
WSFS Financial Company Profile
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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