WSFS Q2 Revenue Smashes Estimates at $282.5M, EPS $1.66 on Broad Loan Growth
WSFS sits 58% above its 52-week low of $49.915.
Summary
WSFS delivered a massive Q2 beat with revenue of $282.5M, far above the $187.29M consensus, and adjusted EPS of $1.66 vs. $1.50 expected. Loan growth was broad-based, led by commercial & industrial and residential mortgage, while noninterest demand deposits jumped 10% sequentially to 37% of total deposits. Wealth and Trust fee revenue surged 17% year-over-year, and fiduciary assets crossed $100B. The company also bought back $66M in stock during the quarter. This follows a strong Q1 that included a $15.7M credit recovery and an $85M buyback. Management guided for continued deposit momentum and fee revenue diversification in the second half. The stock is near its 52-week high, and this print reinforces the growth narrative.
At the time of this announcement, WSFS was trading at $78.96 on NASDAQ in the Finance sector, with a market capitalization of approximately $4.1B. The 52-week trading range was $49.92 to $80.73. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.