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WSFS Financial Q3 revenue rises on loan growth, beats estimates

By Reuters News


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

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$287.60 mln

$197.42 mln (6 Analysts)

Q3 EPS

$1.75

Q3 Net Income

$89.30 mln

Q3 Net Interest Income

$196.60 mln

Q3 Fee Revenue

$91 mln


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.)

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