WSFS Financial Q3 revenue rises on loan growth, beats estimates

Overview

• U.S. regional bank and wealth manager's Q3 revenue rose year-over-year, beating analyst expectations

• Adjusted EPS grew 28% year-over-year to $1.75

• Wealth and trust fees increased 30% year-over-year

Outlook

• WSFS expects continued momentum into Q4 2026 and into 2027

• Company says it has capacity to fund ongoing loan growth

• Company sees ongoing momentum in Wealth and Trust fee businesses

Result Drivers

• NET INTEREST MARGIN - Co said expanded net interest margin and higher yields on loans and investment securities drove results

• LOAN GROWTH - Co said solid loan growth, particularly in commercial and residential mortgages, contributed to revenue

• WEALTH AND TRUST FEES - Co said Wealth and Trust segment delivered 30% year-over-year fee growth, led by Institutional Services and Private Wealth Management

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "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 Corporation is $89.00, about 15.9% above its October 21 closing price of $76.81

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 12 three months ago

Reuters Recommended Reads

• Oct 20 - KeyCorp Q3 revenue rises 8% to record, profit up 24%

• Oct 19 - ServisFirst Bancshares Q3 profit jumps on loan growth, wider interest margin

• Oct 20 - East West Bancorp Q3 revenue beats estimates on loan and deposit growth

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@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.)