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WSFS — WSFS Financial News Story

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WSFS Financial beats Q4 revenue expectations on loan and deposit growth

Overview

Banking firm's Q4 revenue beat analyst expectations, driven by loan and deposit growth

Co reported EPS of $1.34 and ROA of 1.33%

Company repurchased $109.3 mln of common stock

Outlook

Company sees continued growth in fee-based businesses and commercial loan funding

Result Drivers

LOAN GROWTH - WSFS reported 2% qtr-over-qtr loan growth, led by a 4% increase in commercial & industrial loans and 5% growth in residential mortgage and consumer loans

DEPOSIT GROWTH - Client deposits grew 2% qtr-over-qtr, with noninterest demand deposits up 6%, driven by Institutional Services and Private Wealth Management

FEE REVENUE - Wealth and Trust segment delivered 13% year-over-year growth, contributing to strong fee revenue performance

Key Details

MetricBeat/MissActualConsensus Estimate
Q4 RevenueBeat$271.90 mln$180.22 mln (4 Analysts)
Q4 EPS$1.34
Q4 Net Income$72.70 mln
Q4 Net Interest Income$187.40 mln
Q4 Fee Revenue$84.50 mln
Analyst Coverage The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "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 Corp is $63.00, about 9.1% above its January 23 closing price of $57.74 The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago Press Release: ID:nBw2bdgrba For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@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.)

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