Core Insights - WSFS Financial is expected to report quarterly earnings of $0.98 per share, reflecting a decline of 14.8% year-over-year, while revenues are forecasted to be $266.75 million, indicating a slight increase of 0.5% [1] - There have been no revisions in the consensus EPS estimate over the last 30 days, suggesting stability in analysts' forecasts [1][2] - The consensus estimates for key metrics include a 'Net Interest Margin' of 3.7%, down from 4% in the same quarter last year, and an 'Efficiency Ratio' of 61.5%, up from 55.6% year-over-year [4] Financial Metrics - Analysts expect 'Total Non-Interest Income' to be $91.15 million, an increase from $87.21 million a year ago [5] - 'Net Interest Income' is projected to reach $175.60 million, down from $178.13 million in the previous year [5] - WSFS shares have increased by 1.6% over the past month, compared to a 2.1% increase in the Zacks S&P 500 composite [6]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Large accelerated filer x Accelerated filer ☐ Emerging growth company ☐ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-35638 WSFS FINANCIAL CORPORATION (Exact name of regi ...

WSFS Financial (WSFS) reported $267.66 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 4.9%. EPS of $1.08 for the same period compares to $1.23 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $264.67 million, representing a surprise of +1.13%. The company has not delivered EPS surprise, with the consensus EPS estimate being $1.08.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall ...

WSFS Financial (WSFS) came out with quarterly earnings of $1.08 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $1.23 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this bank holding company would post earnings of $1.04 per share when it actually produced earnings of $1.08, delivering a surprise of 3.85%.Over the last four quarters, the company has surpassed consensus EPS estimates three times.WSFS, which belong ...

WSFS Bank Center WSFS Bank Place 1 500 Delaware Avenue 1818 Market Street Wilmington, DE 19801 Philadelphia, PA 19103 EXHIBIT 99.1 FOR IMMEDIATE RELEASE Investor Relations Contact: Andrew Basile (302) 504-9857; abasile@wsfsbank.com October 24, 2024 Media Contact: Kyle Babcock (215) 864-1795; kbabcock@wsfsbank.com WSFS REPORTS 3Q 2024 ROA OF 1.22% AND EPS OF $1.08; RESULTS REFLECT CONTINUED LOAN, DEPOSIT, AND FEE REVENUE GROWTH Wilmington, DE — WSFS Financial Corporation (Nasdaq: WSFS), the parent company of ...

Analysts on Wall Street project that WSFS Financial (WSFS) will announce quarterly earnings of $1.08 per share in its forthcoming report, representing a decline of 12.2% year over year. Revenues are projected to reach $264.67 million, increasing 3.7% from the same quarter last year.The consensus EPS estimate for the quarter has undergone a downward revision of 0.9% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial esti ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following 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 in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Eve ...

Financial Data and Key Metrics Changes - Core earnings per share for the quarter was $1.08, with a core return on assets of 1.25% and a core return on tangible common equity of 18.83% [15][7] - Net charge-offs were reported at 30 basis points, excluding Upstart and NewLane, reflecting potential weakness in a small group of problem loans [16] - The company returned approximately 70% of earnings to shareholders, totaling $48.7 million, which included $9 million in dividends and $39.7 million in stock buybacks [4] Business Line Data and Key Metrics Changes - Core fee revenue reached $86 million, up 13% linked quarter and 28% year-over-year, driven by growth across all major fee businesses [21] - Wealth Management fee revenue grew 14% linked quarter and 16% year-over-year, attributed to strong results in institutional services and seasonal fees for tax services [21] - Cash Connect added nearly 8,000 service non-bank ATMs since Q3 2023, increasing its return on assets to 1.72% in Q2 [22] Market Data and Key Metrics Changes - Loans and deposits increased by 6% and 3% respectively on an annualized basis [2] - Deposit growth is projected to be flat year-over-year due to competitive pressures and the natural volatility of certain deposits [23] - The interest-bearing deposit beta is expected to be less than 55%, reflecting a shift in deposit mix and repricing of CDs [23] Company Strategy and Development Direction - The company remains well-positioned to execute its strategy and deliver sustainable top quintile financial performance [5] - The management assumes no interest rate cuts in 2024, using a no-cut scenario as a baseline for business planning [8] - The company continues to target a long-term commitment to return approximately 35% of net income through dividends and stock buybacks [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to absorb unexpected changes due to strong earnings, liquidity, and capital positions [5] - The outlook for the second half of 2024 remains optimistic, with expectations for core ROA around 1.25% [7] - The company is monitoring potential losses from problem loans closely, indicating a cautious approach to the current economic environment [36] Other Important Information - Asset quality remained stable, with non-performing assets declining to 32 basis points of total assets and delinquencies dropping to 13 basis points [3] - The company has substantial capital levels above regulatory benchmarks, including the full impact of accumulated other comprehensive income (AOCI) [4] Q&A Session Summary Question: What is the outlook for fee revenue, particularly bailment fees? - Fee revenue was strong this quarter, with expectations for continued growth in the back half of the year [43] Question: Can you provide insights on the increase in problem loans? - The increase in problem loans was due to downgrades in three C&I loans, which are being closely monitored [92] Question: What are the expectations for net charge-offs in the second half of the year? - Net charge-off expectations remain unchanged, with potential increases depending on the performance of monitored loans [47] Question: How is the competitive landscape affecting deposit growth? - The competitive landscape has eased slightly, but the company remains focused on retaining its customer base [49] Question: What is the company's strategy regarding stock buybacks? - The company maintains its philosophy of returning 35% of net income through dividends and stock buybacks, with any incremental buybacks dependent on financial results and economic conditions [51]

Core Insights - WSFS Financial reported revenue of $266.05 million for the quarter ended June 2024, reflecting a 7% increase year-over-year [5] - The company achieved an EPS of $1.08, down from $1.16 in the same quarter last year [5] - The reported revenue exceeded the Zacks Consensus Estimate of $254.54 million, resulting in a surprise of +4.52% [1] - The EPS also surpassed expectations with a surprise of +3.85%, against a consensus estimate of $1.04 [1] Financial Metrics - Net Interest Margin was reported at 3.9%, slightly above the average estimate of 3.8% from two analysts [3] - The Efficiency Ratio stood at 58.5%, better than the estimated 59% [3] - Net Interest Income was $174.45 million, slightly below the estimate of $174.89 million [3] - Total Non-Interest Income reached $91.60 million, exceeding the average estimate of $79.64 million [3] - Mortgage banking activities netted $2.22 million, outperforming the estimated $1.70 million [3] Stock Performance - Over the past month, WSFS shares have returned +23.7%, contrasting with a -0.3% change in the Zacks S&P 500 composite [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [4]

This quarterly report represents an earnings surprise of 3.85%. A quarter ago, it was expected that this bank holding company would post earnings of $1.07 per share when it actually produced earnings of $1.11, delivering a surprise of 3.74%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. While WSFS has outperformed the market so far this year, the question t ...