Zacks: Analysts Expect WSFS Financial Corporation (WSFS) Will Post Quarterly Sales of $88.69 Million
Brokerages predict that WSFS Financial Corporation (NASDAQ:WSFS) will announce $88.69 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for WSFS Financial Corporation’s earnings, with the lowest sales estimate coming in at $86.90 million and the highest estimate coming in at $90.48 million. WSFS Financial Corporation posted sales of $80.54 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.1%. The company is scheduled to report its next quarterly earnings results on Thursday, January 25th.
On average, analysts expect that WSFS Financial Corporation will report full-year sales of $88.69 million for the current fiscal year, with estimates ranging from $342.60 million to $346.24 million. For the next financial year, analysts forecast that the company will post sales of $373.87 million per share, with estimates ranging from $369.80 million to $377.94 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover WSFS Financial Corporation.
WSFS Financial Corporation (NASDAQ:WSFS) last posted its quarterly earnings results on Monday, October 23rd. The bank reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). WSFS Financial Corporation had a return on equity of 11.07% and a net margin of 21.27%. The firm had revenue of $87.80 million for the quarter, compared to the consensus estimate of $56.86 million. During the same period in the previous year, the company posted $0.41 EPS. WSFS Financial Corporation’s quarterly revenue was up 16.2% compared to the same quarter last year.
WSFS has been the topic of several research reports. Boenning Scattergood reaffirmed a “buy” rating and issued a $49.00 target price on shares of WSFS Financial Corporation in a research report on Friday, July 28th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $50.00 target price on shares of WSFS Financial Corporation in a research report on Tuesday, October 24th. Finally, BidaskClub lowered WSFS Financial Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. WSFS Financial Corporation currently has a consensus rating of “Hold” and a consensus target price of $51.33.
In other WSFS Financial Corporation news, EVP S James Mazarakis sold 7,161 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $44.86, for a total value of $321,242.46. Following the transaction, the executive vice president now directly owns 48,288 shares of the company’s stock, valued at $2,166,199.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peggy H. Eddens sold 8,580 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $44.29, for a total value of $380,008.20. Following the completion of the transaction, the executive vice president now directly owns 27,659 shares in the company, valued at $1,225,017.11. The disclosure for this sale can be found here. Insiders sold 16,240 shares of company stock worth $723,172 over the last three months. 4.89% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. Frontier Capital Management Co. LLC raised its position in WSFS Financial Corporation by 2.2% in the third quarter. Frontier Capital Management Co. LLC now owns 441,155 shares of the bank’s stock valued at $21,506,000 after purchasing an additional 9,405 shares during the period. Victory Capital Management Inc. raised its position in WSFS Financial Corporation by 25.3% in the third quarter. Victory Capital Management Inc. now owns 4,984 shares of the bank’s stock valued at $243,000 after purchasing an additional 1,007 shares during the period. Ameritas Investment Partners Inc. raised its position in WSFS Financial Corporation by 10.7% in the second quarter. Ameritas Investment Partners Inc. now owns 2,653 shares of the bank’s stock valued at $120,000 after purchasing an additional 256 shares during the period. Susquehanna International Group LLP raised its position in WSFS Financial Corporation by 116.9% in the second quarter. Susquehanna International Group LLP now owns 51,546 shares of the bank’s stock valued at $2,338,000 after purchasing an additional 27,786 shares during the period. Finally, DF Dent & Co. Inc. raised its position in WSFS Financial Corporation by 26.8% in the second quarter. DF Dent & Co. Inc. now owns 37,423 shares of the bank’s stock valued at $1,697,000 after purchasing an additional 7,916 shares during the period. 78.47% of the stock is currently owned by institutional investors.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 7th will be given a $0.09 dividend. The ex-dividend date is Monday, November 6th. This is a positive change from WSFS Financial Corporation’s previous quarterly dividend of $0.07. This represents a $0.36 annualized dividend and a yield of 0.72%. WSFS Financial Corporation’s dividend payout ratio (DPR) is 11.52%.
About WSFS Financial Corporation
WSFS Financial Corporation is a savings and loan holding company. The Company’s subsidiary is Wilmington Savings Fund Society, FSB (WSFS Bank or the Bank), which is the bank and trust company. It operates in three segments: WSFS Bank, Cash Connect and Wealth Management. The WSFS Bank segment provides loans and other financial products to commercial and retail customers.
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