100 USDT
Key Takeaways
- Q1 core EPS: $1.11
- Loan and deposit growth: 2% and 3%, respectively
- Core net interest margin: 3.84%
- Top-quintile financial performance expected in 2024
- $1.3 million deferred revenue overstatement, but a one-time issue
- Net interest margin plateau in Q2, potential increase in the second half of the year
Company Outlook
WSFS anticipates top-quintile financial performance in 2024 and remains on track to meet its full-year outlook.
Bearish Highlights
- $1.3 million overstatement in deferred revenue
- Rising deposit and funding costs, lower investment securities yield
Bullish Highlights
- Strong securitization deals pipeline
- Attracting customers for deposit products
- Higher than expected CD retention rates
Misses
$1.3 million overstatement in deferred revenue
Q&A Highlights
- Competitive pressures have eased, according to Shari Kruzinski.
- Art Bacci confirmed the company’s commitment to a 35% long-term capital return threshold.
- Steve Clark discussed proactive measures with customers on maturing loans, indicating minor challenges.
WSFS’s Financial Health
WSFS Financial Corporation (NASDAQ: WSFS) has a market capitalization of $2.62 billion and a price-to-earnings (P/E) ratio of 9.56. It has a stable P/E ratio and has experienced a slight uptick to 9.62 over the last twelve months.
The company’s revenue growth is noteworthy, with a 3.82% increase over the last twelve months and an impressive quarterly revenue growth of 8.93% in Q1 2024. This aligns with the company’s reported uptick in loan and deposit portfolios, underscoring its operational strength.
The dividend yield stands at 1.4%, and WSFS has a track record of raising its dividend for 10 consecutive years, which is a positive sign for income-focused investors.
InvestingPro Tips
- WSFS trades at a high P/E ratio relative to near-term earnings growth.
- Weak gross profit margins.
- High shareholder yield.
- 27 consecutive years of dividend payments.
- Predicting profitability in 2024 and positive returns in the last twelve months.
- Large price uptick in the last six months, reflecting investor confidence.
Analysts expect the company to be profitable this year and it has been profitable over the last twelve months.
WSFS is trading at a high P/E ratio relative to near-term earnings growth, and it suffers from weak gross profit margins. However, these factors are balanced by the company’s high shareholder yield and the fact that it has maintained dividend payments for 27 consecutive years.
For more information and additional InvestingPro tips, visit https://www.investing.com/pro/WSFS.
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Пульс Новости 4.6 из 10
- Значимость новости: 5/10. Новость касается финансовой деятельности банка, не связанного с криптовалютами, и имеет лишь косвенное отношение к криптовалютному рынку.
- Инновационная ценность новости: 0/10. Новость не содержит информации об инновациях в криптовалютной сфере.
- Потенциальное влияние новости на рынок: 0/10. Новость не окажет влияния на криптовалютный рынок.
- Релевантность новости: 1/10. Новость не связана с криптовалютным рынком и не предоставляет полезной информации для криптовалютных инвесторов.
- Актуальность новости: 5/10. Новость относится к текущему кварталу и предоставляет информацию о финансовых показателях банка.
- Достоверность новости: 8/10. Новость основана на финансовой отчетности и пресс-релизе банка, что повышает ее достоверность.
- Общий тон новости: 7/10. Новость имеет положительный тон, поскольку банк сообщил о сильных финансовых показателях.
