Corrected: WSFS Financial Q3 revenue rises on loan growth, beats estimates

WSFS Financial

Thu 21:16

Corrects EPS growth rate to 25% from 28% in second Overview bullet

Overview
U.S. regional bank and wealth manager's Q3 revenue rose year-over-year, beating analyst expectations
Core EPS grew 25% year-over-year to $1.75
Wealth and trust fees increased 30% year-over-year

Outlook
WSFS expects continued momentum into Q4 2026 and into 2027
Company says it has capacity to fund ongoing loan growth
Company sees ongoing momentum in Wealth and Trust fee businesses

Result Drivers
NET INTEREST MARGIN - Co said expanded net interest margin and higher yields on loans and investment securities drove results
LOAN GROWTH - Co said solid loan growth, particularly in commercial and residential mortgages, contributed to revenue
WEALTH AND TRUST FEES - Co said Wealth and Trust segment delivered 30% year-over-year fee growth, led by Institutional Services and Private Wealth Management

Company press release: ID:nBw6RrKRYa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$287.60 mln
$197.42 mln (6 Analysts)
Q3 EPS
 
$1.75
 
Q3 Net Income
 
$89.30 mln
 
Q3 Net Interest Income
 
$196.60 mln
 
Q3 Fee Revenue
 
$91 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for WSFS Financial Corporation is $89.00, about 15.9% above its October 21 closing price of $76.81
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 12 three months ago

Reuters Recommended Reads
Oct 20 - KeyCorp Q3 revenue rises 8% to record, profit up 24%
Oct 19 - ServisFirst Bancshares Q3 profit jumps on loan growth, wider interest margin 
Oct 20 - East West Bancorp Q3 revenue beats estimates on loan and deposit growth

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)