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🇺🇸 NASDAQ:WSFS

Overview Earnings Dividends

Apr 25, 2024

•

Mar 31, 2024

WSFS Q1 2024 Earnings Report

WSFS reported a strong first quarter in 2024, marked by solid financial performance and strategic growth initiatives.

Key Takeaways

WSFS Financial Corporation reported a first quarter 2024 ROA of 1.28% and EPS of $1.09, reflecting balance sheet strength and a diverse business model. Annualized loan growth reached 7%, driven by both commercial and consumer business lines.

Core EPS was $1.11, and core ROA was 1.31%.

Gross loans grew by 2% (7% annualized), primarily due to commercial portfolio growth and the consumer partnership with Spring EQ.

The net interest margin was 3.84%, reflecting lagging increases in deposit pricing.

WSFS repurchased 492,368 shares of common stock for $21.0 million and declared a quarterly cash dividend of $0.15 per share.

Total Revenue

$175M

Previous year: $183M

-4.0%

EPS

$1.11

Previous year: $1.02

+8.8%

Net Interest Margin

3.84%

Efficiency Ratio

59.28%

Previous year: 54%

+9.8%

Return on Assets

1.28%

Cash and Equivalents

$977M

Previous year: $1.1B

-11.4%

Free Cash Flow

$109M

Previous year: $29.3M

+270.3%

Total Assets

$20.6B

Previous year: $20.3B

+1.3%

WSFS

WSFS

WSFS Revenue by Segment

Revenue by Segment

Wealth Management Revenue

CapyFin.com

Cash Connect Revenue

CapyFin.com

Forward Guidance

The company did not provide specific forward guidance in the provided document.

Company Overview

Full financial data and analysis