WSFS Financial Co. (NASDAQ:WSFS) – Investment analysts at DA Davidson upped their Q1 2019 earnings per share estimates for shares of WSFS Financial in a research note issued on Wednesday, October 24th. DA Davidson analyst R. Gunther now anticipates that the bank will post earnings per share of $0.82 for the quarter, up from their previous estimate of $0.60. DA Davidson also issued estimates for WSFS Financial’s Q2 2019 earnings at $0.90 EPS, Q3 2019 earnings at $0.96 EPS, Q4 2019 earnings at $1.01 EPS, FY2019 earnings at $3.75 EPS, Q1 2020 earnings at $0.92 EPS, Q2 2020 earnings at $1.00 EPS, Q3 2020 earnings at $1.05 EPS and FY2020 earnings at $4.05 EPS.
A number of other research analysts also recently issued reports on the stock. BidaskClub upgraded shares of WSFS Financial from a “sell” rating to a “hold” rating in a research report on Tuesday. Boenning Scattergood restated a “buy” rating on shares of WSFS Financial in a research report on Tuesday, October 23rd. Keefe, Bruyette & Woods upgraded shares of WSFS Financial from a “market perform” rating to an “outperform” rating in a research report on Wednesday, October 10th. ValuEngine downgraded shares of WSFS Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Finally, Zacks Investment Research downgraded shares of WSFS Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $59.67.
WSFS Financial (NASDAQ:WSFS) last released its earnings results on Monday, October 22nd. The bank reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. WSFS Financial had a net margin of 23.83% and a return on equity of 14.37%. The company had revenue of $105.00 million for the quarter, compared to the consensus estimate of $100.42 million.
Several large investors have recently made changes to their positions in WSFS. BlackRock Inc. raised its position in shares of 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 acquiring an additional 165,476 shares during the period. OppenheimerFunds Inc. raised its position in shares of WSFS Financial by 27.2% in the 2nd quarter. OppenheimerFunds Inc. now owns 564,319 shares of the bank’s stock valued at $30,078,000 after acquiring an additional 120,721 shares during the period. Macquarie Group Ltd. raised its position in shares of WSFS Financial by 9.1% in the 2nd quarter. Macquarie Group Ltd. now owns 1,063,000 shares of the bank’s stock valued at $56,658,000 after acquiring an additional 88,373 shares during the period. Standard Life Aberdeen plc increased its stake in WSFS Financial by 5.9% during the 2nd quarter. Standard Life Aberdeen plc now owns 1,409,337 shares of the bank’s stock worth $75,153,000 after purchasing an additional 79,039 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in WSFS Financial by 41.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 149,701 shares of the bank’s stock worth $7,978,000 after purchasing an additional 43,504 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.
In related news, CEO Mark A. Turner sold 58,823 shares of the stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $53.05, for a total value of $3,120,560.15. Following the sale, the chief executive officer now directly owns 136,436 shares in the company, valued at approximately $7,237,929.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dominic C. Canuso purchased 4,245 shares of the business’s stock in a transaction that occurred on Thursday, August 30th. The stock was purchased at an average price of $48.95 per share, for a total transaction of $207,792.75. Following the completion of the transaction, the chief financial officer now directly owns 3,447 shares in the company, valued at $168,730.65. The disclosure for this purchase can be found here. Insiders sold a total of 156,437 shares of company stock worth $7,936,487 over the last quarter. 5.73% of the stock is currently owned by corporate insiders.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Tuesday, November 6th will be given a $0.11 dividend. The ex-dividend date of this dividend is Monday, November 5th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.02%. WSFS Financial’s dividend payout ratio is 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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