From a technical perspective, WSFS Financial Corporation (WSFS) is looking like an interesting pick, as it just reached a key level of support. WSFS's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.A golden cross is a technical chart pattern that can signify a potential bullish breakout. It's formed from a crossover involving a security's short-term moving average breaking above a longer-term moving average, with the most ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even though momentum is a popular stock char ...

Financial Performance - The company reported earnings per share (EPS) of $1.12 and a return on assets (ROA) of 1.29% for the three months ended March 31, 2025, compared to $1.09 and 1.28% for the same period in 2024[175]. - Net income attributable to the company for the three months ended March 31, 2025, was $65.9 million, slightly up from $65.8 million in the same period of 2024[197]. - Noninterest income for the three months ended March 31, 2025, was $80.9 million, an increase of $5.0 million from $75.9 million in the same period of 2024, driven by a $6.4 million increase in the Wealth and Trust segment[205]. - Noninterest income increased by $5.0 million, driven by growth in Wealth and Trust services[197]. - Net interest income for the three months ended March 31, 2025, decreased by $0.1 million compared to the same period in 2024, totaling $175.2 million[199]. Asset and Liability Management - As of March 31, 2025, WSFS Financial Corporation had total assets of $20.5 billion and assets under management (AUM) and assets under administration (AUA) of $89.6 billion[173]. - Total liabilities decreased by $347.2 million to $17.9 billion at March 31, 2025, compared to December 31, 2024[176]. - Client deposits decreased by $150.7 million, primarily due to expected outflows in Trust deposits[180]. - The company maintained a total common equity Tier 1 capital ratio of 14.12% and total risk-based capital of 15.36%, well above regulatory requirements[181]. - Interest-earning assets exceeded interest-bearing liabilities maturing or repricing within one year by $473.6 million as of March 31, 2025[194]. Equity and Dividends - The Board of Directors approved a 13% increase in the quarterly cash dividend to $0.17 per share and authorized a share repurchase of 10% of outstanding shares[178]. - Stockholders' equity increased by $81.9 million to $2.7 billion at March 31, 2025, primarily due to $65.9 million in earnings[177]. - Stockholders' equity increased to $2,671,614 thousand as of March 31, 2025, from $2,589,752 thousand as of December 31, 2024[211]. - Tangible common equity as of March 31, 2025, was $1,687,732 thousand, up from $1,601,592 thousand as of December 31, 2024[211]. - Book value per share of common stock increased to $46.31 as of March 31, 2025, from $44.15 as of December 31, 2024[211]. Credit Quality - Nonperforming assets decreased by $10.5 million from December 31, 2024, to March 31, 2025, primarily due to the charge-off of a nonperforming commercial and industrial loan[191]. - The ratio of nonperforming assets to total assets improved from 0.61% at December 31, 2024, to 0.57% at March 31, 2025[191]. - The provision for credit losses rose by $2.2 million due to a charge-off of a nonperforming loan, partially offset by a lower provision on the consumer portfolio[197]. - The total allowance for credit losses decreased to $188.1 million as of March 31, 2025, from $195.3 million at December 31, 2024, with the ratio to total loans and leases decreasing to 1.43%[202]. - The charge-offs for the three months ended March 31, 2025, amounted to $27.1 million, with net charge-offs totaling $24.6 million[203]. Expenses and Taxation - Noninterest expense for the three months ended March 31, 2025, was $151.8 million, an increase of $2.7 million from $149.1 million for the same period in 2024, primarily due to a $6.7 million increase in salaries and benefits[206]. - Income tax expense for the three months ended March 31, 2025, was $21.1 million, compared to $21.2 million for the same period in 2024[207]. - The effective tax rate for the three months ended March 31, 2025, was 24.3%, slightly down from 24.4% in the same period of 2024[208]. Interest and Margin - The net interest margin increased to 3.88% for the three months ended March 31, 2025, up from 3.84% in the prior year, driven by deposit repricing actions[175]. - The interest rate spread for Q1 2025 was 3.05%, compared to 2.98% in Q1 2024[199]. - The total interest-earning assets were $18.38 billion, generating interest income of $250.9 million in Q1 2025[198]. - The total interest-bearing liabilities were $12.27 billion, with interest expense of $75.7 million in Q1 2025[198].

WSFS Financial Corporation 1Q 2025 Earnings Release Supplement April 2025 1 Forward Looking Statements & Non-GAAP Forward Looking Statements: This presentation contains estimates, predictions, opinions, projections and other "forward-looking statements" as that phrase is defined in the Private Securities Litigation Reform Act of 1995. Such statements include, without limitation, references to the Company's predictions or expectations of future business or financial performance as well as its goals and objec ...

Financial Data and Key Metrics Changes - WSFS Financial Corporation reported core earnings per share of $1.13, core return on assets (ROA) of 1.29%, core pre-provision net revenue (PPNR) of $104.6 million, and core return on tangible common equity of 16.97%, all showing improvements from the prior quarter [5][6][14] - The core net interest margin expanded by 8 basis points to 3.88%, with total funding costs reduced by 15 basis points to 1.77% [6][7] - Year-over-year, the net interest margin increased by 4 basis points despite absorbing 100 basis points of interest rate cuts [7] Business Line Data and Key Metrics Changes - Core fee revenue grew by 6% year-over-year, driven by a 19% increase in Wealth and Trust services [7] - Institutional Services and Bryn Mawr Trust Company of Delaware showed strong year-over-year growth, attributed to higher deal flow [8] - Client deposits declined by 1% linked quarter but increased by 4% year-over-year, with non-interest bearing deposits up 6% year-over-year [11][12] Market Data and Key Metrics Changes - The loan to deposit ratio remained stable at 77%, providing flexibility for future growth [12] - Total net credit costs increased to $17.6 million, with net charge-offs at $24.6 million, primarily due to a charge-off of a non-performing office-related loan [12][13] Company Strategy and Development Direction - The company announced a 13% increase in the quarterly dividend to $0.17 per share and an additional share repurchase authorization of 10% of outstanding shares [15] - A medium-term target CET1 ratio of 12% was established, with a gradual glide path over two to three years [15][66] Management's Comments on Operating Environment and Future Outlook - Management noted that clients are cautious about expansion due to macroeconomic uncertainties, leading to postponed investments [40][42] - The overall credit quality remains stable, with no significant red flags identified in delinquency metrics [45] - Management expressed confidence in the ability to manage net interest margin compression through various tools, including deposit beta management and wholesale funding optimization [56][60] Other Important Information - The company returned $62.6 million of capital in the first quarter, including $53.8 million in buybacks and $8.8 million in dividends [14] - The capital ratios remain strong, with a CET1 of 14.1% and a tangible common equity (TCE) of 8.63% [14] Q&A Session Summary Question: Why was there no updated guidance in the presentation? - Management stated that it is typical to update guidance after the second quarter due to the volatility of the environment [22][23] Question: What is the outlook for net charge-offs? - Management indicated that the increase in charge-offs was due to a one-off item and that the overall portfolio is performing as expected [24][26] Question: How should expenses be viewed going forward? - Management noted that the first quarter expenses were lower than the run rate, estimating a future run rate around $160 million [33] Question: What is the outlook for commercial growth? - Management observed that clients are cautious about expansion due to market volatility, but the pipeline remains consistent [40][42] Question: How are deposit beta expectations evolving? - Management exceeded their initial goal for deposit beta, reaching 38% this quarter, and will continue to push for higher rates [56][63] Question: What is the timeframe for the CET1 target? - Management indicated a two to three-year glide path for the CET1 target, depending on macroeconomic conditions [66][68] Question: How is the company addressing potential impacts from new tariff policies? - Management is monitoring the situation closely but has not made changes to underwriting criteria yet due to the uncertainty [78][79] Question: What needs to happen for net growth to resume? - Management emphasized that greater certainty in the macro environment would help spur net growth, as clients are currently in a holding pattern [83][84]

Financial Data and Key Metrics Changes - WSFS Financial Corporation reported core earnings per share of $1.13, core return on assets (ROA) of 1.29%, core pre-provision net revenue (PPNR) of $104.6 million, and core return on tangible common equity of 16.97%, all showing improvements from the prior quarter [5][6][14] - The core net interest margin expanded by 8 basis points to 3.88%, with total funding costs reduced by 15 basis points to 1.77% [6][7] - Year-over-year, net interest margin increased by 4 basis points despite absorbing 100 basis points of interest rate cuts [7] Business Line Data and Key Metrics Changes - Core fee revenue grew by 6% year-over-year, driven by a 19% increase in Wealth and Trust services [7] - Institutional Services and Bryn Mawr Trust Company of Delaware showed strong year-over-year growth, increasing deal flow and market share [8] - Client deposits declined by 1% linked quarter but increased by 4% year-over-year, with non-interest bearing deposits up 6% year-over-year [11][12] Market Data and Key Metrics Changes - The loan to deposit ratio remained stable at 77%, providing flexibility for future growth [12] - Total net credit costs increased to $17.6 million, with net charge-offs at $24.6 million, primarily due to a charge-off of a non-performing loan [12][13] Company Strategy and Development Direction - The company announced a 13% increase in the quarterly dividend to $0.17 per share and an additional share repurchase authorization of 10% of outstanding shares [15] - A medium-term target CET1 ratio of 12% was established, with a gradual glide path over two to three years [15][66] - The company aims to manage net interest margin through various tools, including optimizing wholesale funding and hedging programs [58][60] Management's Comments on Operating Environment and Future Outlook - Management noted that clients are cautious about expansion due to macroeconomic uncertainties, leading to postponed investments [40][42] - The overall credit quality remains stable, with no significant red flags identified in delinquency metrics [45] - Management expressed confidence in the ability to navigate the current environment and indicated that an update on full-year outlook will be provided in the second quarter [16][68] Other Important Information - The company returned $62.6 million of capital in the first quarter, including $53.8 million in buybacks and $8.8 million in dividends [14] - The capital ratios remain strong, with a CET1 of 14.1% and TCE of 8.63%, significantly above regulatory targets [14] Q&A Session Summary Question: Why was there no updated guidance in the presentation? - Management stated that it is typical not to provide updated guidance until mid-year due to the volatility of the environment [22][23] Question: What is the outlook for net charge-offs? - Management indicated that the increase in charge-offs was due to a one-off item and that the rest of the portfolio is performing as expected [26][28] Question: How should expenses be viewed going forward? - Management noted that the first quarter expenses were lower than the run rate and provided insights into one-time items affecting the expense line [33] Question: What is the outlook for commercial growth? - Management observed that clients are cautious about expansion due to market volatility, but the pipeline remains consistent [40][42] Question: How are deposit beta expectations evolving? - Management exceeded their deposit beta goal of 40% and plans to continue pushing for higher rates [56][63] Question: What is the medium-term plan for the CET1 target? - Management outlined a two to three-year glide path to reach a CET1 target of 12%, depending on macroeconomic conditions [66][68]

Financial Data and Key Metrics Changes - The company reported core earnings per share of $1.13, core return on assets (ROA) of 1.29%, core pre-provision net revenue (PPNR) of $104.6 million, and core return on tangible common equity of 16.97%, all showing improvements from the prior quarter [5][10] - Net interest margin expanded by eight basis points to 3.88%, reflecting a reduction in total funding cost by 15 basis points to 1.77% [5][6] - Total net credit costs increased to $17.6 million, up $8.9 million from the previous quarter, with net charge-offs at $24.6 million [9] Business Line Data and Key Metrics Changes - Core fee revenue grew by 6% year over year, driven by a 19% increase in wealth and trust services [6] - Institutional Services showed strong year-over-year growth, contributing to higher deal flow [6] - Cash Connect fees declined quarter over quarter due to seasonally lower volumes, but profit margins improved through expense and pricing offsets [7] Market Data and Key Metrics Changes - Client deposits declined by 1% linked quarter but increased by 4% year over year, with non-interest bearing deposits up by 6% year over year [8] - The loan to deposit ratio remained stable at 77%, providing flexibility for future growth [8] Company Strategy and Development Direction - The company plans to target a CET1 ratio of 12% in the medium term, with a gradual glide path over two to three years [11][56] - The company is committed to returning capital to shareholders, having returned $62.6 million in capital during the first quarter, including $53.8 million in buybacks and a 13% increase in the quarterly dividend [10][11] Management's Comments on Operating Environment and Future Outlook - Management noted that clients are cautious about expansion due to macroeconomic uncertainty, leading to postponed investments [32][33] - The company remains engaged with clients and is monitoring the overall environment closely, indicating a stable outlook despite current challenges [9][20] Other Important Information - The company has a strong capital position with a CET1 ratio of 14.1% and TCE of 8.63%, significantly above regulatory targets [10] - The company is actively managing its net interest margin through various tools, including deposit beta management and optimization of wholesale funding [45][46] Q&A Session Summary Question: Why was there no updated guidance in the presentation? - Management stated that it is typical to update guidance after the second quarter due to the volatility of the environment, and there is nothing to read into the absence of guidance this quarter [16][17] Question: What is the outlook for net charge-offs? - Management indicated that the increase in charge-offs was primarily due to a one-off item and that the rest of the portfolio is performing as expected [19][20] Question: How should expenses be viewed going forward? - Management provided insights on seasonal impacts and one-time items affecting expenses, suggesting a run rate between the first and fourth quarters [21][24] Question: What is the outlook for commercial growth? - Management noted that clients are cautious about expansion due to market volatility, but the pipeline remains consistent [32][33] Question: How are deposit beta expectations evolving? - Management exceeded their initial goal for deposit beta, reaching 38% this quarter, and plans to continue pushing higher [44][45] Question: What is the medium-term target for CET1? - Management indicated a two to three-year glide path to a 12% CET1 target, with discretion to adjust based on macroeconomic conditions [56][57] Question: How does the macro environment impact buyback decisions? - Management expressed confidence in their capital position but acknowledged the need to monitor the macro environment for any changes [59][60]

Core Insights - WSFS Financial reported revenue of $256.11 million for Q1 2025, a 2% year-over-year increase, with EPS of $1.13 compared to $1.11 a year ago [1] - The revenue fell short of the Zacks Consensus Estimate by 1.76%, while the EPS exceeded the consensus estimate by 8.65% [1] Financial Performance Metrics - Efficiency Ratio stood at 59.2%, better than the average estimate of 63.5% from two analysts [4] - Net Interest Margin was reported at 3.9%, slightly above the average estimate of 3.8% [4] - Average Balance of Total Interest Earning Assets was $18.38 billion, lower than the estimated $18.76 billion [4] - Total Non-Interest Income was $80.90 million, below the estimated $86.42 million [4] - Net Interest Income reached $175.22 million, surpassing the average estimate of $174.29 million [4] Stock Performance - WSFS shares returned -3.5% over the past month, outperforming the Zacks S&P 500 composite's -5.1% change [3] - The stock holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Core Viewpoint - WSFS Financial reported quarterly earnings of $1.13 per share, exceeding the Zacks Consensus Estimate of $1.04 per share, and showing a slight increase from $1.11 per share a year ago, indicating an earnings surprise of 8.65% [1][2] Financial Performance - The company posted revenues of $256.11 million for the quarter ended March 2025, which was 1.76% below the Zacks Consensus Estimate, compared to $251.14 million in the same quarter last year [2] - Over the last four quarters, WSFS has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Stock Performance - WSFS shares have declined approximately 3.6% since the beginning of the year, while the S&P 500 has seen a decline of 8.6% [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating expectations for it to outperform the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.10 on revenues of $267.46 million, and for the current fiscal year, it is $4.48 on revenues of $1.07 billion [7] - The estimate revisions trend for WSFS is favorable ahead of the earnings release, which may influence future stock movements [6][7] Industry Context - The Financial - Savings and Loan industry, to which WSFS belongs, is currently ranked in the top 28% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8]

Financial Performance - WSFS reported 1Q 2025 EPS of $1.12, a 2.8% increase from $1.09 in 4Q 2024[2] - Total net revenue for 1Q 2025 was $256.1 million, compared to $261.5 million in 4Q 2024[2] - Core fee revenue grew 6% year-over-year, driven by a 19% increase in the Wealth and Trust segment[6] - Core fee revenue decreased to $80.9 million, down 3% from $83.2 million in 4Q 2024, but increased 6% compared to 1Q 2024[27] - Adjusted net income (non-GAAP) attributable to WSFS for Q1 2025 was $66,137,000, compared to $67,330,000 in Q1 2024[56] - Return on average tangible common equity (non-GAAP) was 16.91% in Q1 2025, up from 18.76% in Q1 2024[56] Income and Expenses - Net interest income for 1Q 2025 was $175.2 million, down 2% from $178.2 million in 4Q 2024[2] - Noninterest expense decreased to $151.8 million in Q1 2025, down from $169.1 million in Q4 2024[48] - Core noninterest expense decreased to $151.5 million, down 9% from 4Q 2024, but increased 3% compared to 1Q 2024[29] - The efficiency ratio improved to 59.16% in Q1 2025, compared to 64.57% in Q4 2024[50] - Core efficiency ratio (non-GAAP) improved to 59.0% in Q1 2025 from 58.6% in Q1 2024[55] Asset and Equity Management - Total assets decreased to $20,548,950 thousand as of March 31, 2025, from $20,814,303 thousand at December 31, 2024, representing a decline of 1.28%[51] - Total stockholders' equity increased by $81.9 million, or 3%, during 1Q 2025, primarily due to quarterly earnings of $65.9 million[34] - The equity to asset ratio improved to 13.00% from 12.44%[51] - The common equity Tier 1 capital ratio increased to 14.10% from 13.81%[51] - Tangible common book value per share increased to $29.25 in Q1 2025 from $24.52 in Q1 2024[55] Loan and Deposit Activity - Total client deposits decreased by $150.7 million, or 1%, compared to December 31, 2024[14] - Total commercial loans and leases grew by $82.5 million, or 1%, compared to March 31, 2024[11] - The loan-to-deposit ratio was 77% at March 31, 2025, indicating capacity for future loan growth[17] - Net loans and leases slightly decreased to $12,975,323 thousand from $13,045,917 thousand, a reduction of 0.54%[51] - Total client deposits decreased to $16,879,061 thousand from $17,029,808 thousand, a decline of 0.88%[51] Credit Quality - Problem assets increased to $683.7 million, up 6% from $645.0 million as of December 31, 2024, and up 19% from $573.2 million as of March 31, 2024[21] - Delinquencies rose to $147.7 million, an increase of $25.9 million or 21bps compared to December 31, 2024, primarily due to the C&I portfolio[22] - Net charge-offs increased to $24.6 million, or 76bps of average gross loans, driven by a $15.9 million charge-off of a nonperforming C&I loan[23] - Nonperforming assets decreased to $116.9 million, down $10.5 million compared to December 31, 2024, primarily due to the aforementioned charge-off[24] - The provision for credit losses increased to $17.4 million in Q1 2025, compared to $15.1 million in Q1 2024[48] Dividends and Share Repurchase - The board approved a 13% increase in the quarterly dividend to $0.17 per share[7] - WSFS repurchased 1,027,214 shares at an average price of $52.37, totaling $53.8 million[9] - The quarterly cash dividend was increased by 13% to $0.17 per share, with an incremental share repurchase authorization of 10% of outstanding shares[32] Operational Metrics - The number of associates (FTEs) increased to 2,336 in Q1 2025 from 2,241 in Q1 2024[53] - The number of serviced non-bank ATMs and smart safes declined by 7,817 units, or 17% compared to Q1 2024, primarily due to a shift away from lower margin units[42] - The number of WSFS owned and branded ATMs increased to 580 in Q1 2025 from 583 in Q1 2024[53] Other Financial Metrics - Net profit margin improved to 7.38% in Q1 2025, up from 3.18% in Q1 2024, driven by pricing actions and a shift to higher margin services[41] - Cash Connect's net revenue for Q1 2025 was $21.5 million, a decrease of 10.8% from $24.1 million in Q1 2024[41] - Wealth and Trust pre-tax income decreased to $29.4 million, down 11% from 4Q 2024, primarily due to a decline in net interest income[37] - Net AUM was $8.9 billion at the end of 1Q 2025, a decrease of $0.2 billion, or 2%, compared to 4Q 2024[39] - Unrealized losses on securities available for sale decreased to $(467,752,000) in Q1 2025 from $(539,939,000) in Q1 2024[53]