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WSFS (WSFS) Reports Q2 Earnings: What Key Metrics Have to Say
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WSFS Financial (WSFS - Free Report) reported $248.71 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 10.2%. EPS of $1.16 for the same period compares to $1.02 a year ago.
The reported revenue represents a surprise of +3.28% over the Zacks Consensus Estimate of $240.81 million. With the consensus EPS estimate being $1.10, the EPS surprise was +5.45%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how WSFS performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Interest Margin: 4.11% versus 4.01% estimated by two analysts on average.
Efficiency Ratio: 56.71% versus the two-analyst average estimate of 55.41%.
Net Interest Income: $181.84 million versus $175.05 million estimated by two analysts on average.
Total Non Interest Income: $66.87 million versus $65.77 million estimated by two analysts on average.
Mortgage banking activities, net: $1.30 million versus $1.40 million estimated by two analysts on average.
Shares of WSFS have returned +18.4% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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WSFS (WSFS) Reports Q2 Earnings: What Key Metrics Have to Say
WSFS Financial (WSFS - Free Report) reported $248.71 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 10.2%. EPS of $1.16 for the same period compares to $1.02 a year ago.
The reported revenue represents a surprise of +3.28% over the Zacks Consensus Estimate of $240.81 million. With the consensus EPS estimate being $1.10, the EPS surprise was +5.45%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how WSFS performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 4.11% versus 4.01% estimated by two analysts on average.
- Efficiency Ratio: 56.71% versus the two-analyst average estimate of 55.41%.
- Net Interest Income: $181.84 million versus $175.05 million estimated by two analysts on average.
- Total Non Interest Income: $66.87 million versus $65.77 million estimated by two analysts on average.
- Mortgage banking activities, net: $1.30 million versus $1.40 million estimated by two analysts on average.
View all Key Company Metrics for WSFS here>>>Shares of WSFS have returned +18.4% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.