NASDAQ$WSFS

WSFS Financial Corporation · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

WSFS reported Q4 2019 EPS of $0.88, marking the first year of its strategic plan with strong operating results and the successful integration of the Beneficial acquisition.

WSFS Financial Corporation reported a net income of $45.7 million, or $0.88 per share, for the fourth quarter of 2019. The results reflect the impact of the Beneficial Bancorp, Inc. acquisition and include net corporate development and restructuring costs of $6.1 million. The company's core ROA was 1.63%, and core EPS was $0.96.

  • Core ROA was 1.63% in 4Q 2019, compared to 1.67% for 4Q 2018.
  • Core EPS was $0.96 in 4Q 2019, compared to $0.94 for 4Q 2018.
  • Core net revenue in 4Q 2019 increased by 58% from 4Q 2018, driven by increases in both core net interest income and core fee income.
  • The core efficiency ratio was 58.0% in 4Q 2019, compared with 58.5% in 4Q 2018.

Headline financials

Total Revenue

$118M

Previous: $64.7M+81.8%
EPS (adj)

$0.96

Previous: $0.94+2.1%
Net Interest Margin

4.3%

Previous: 4.2%+4.6%
Efficiency Ratio

61.5%

No prior period
Return on Average Assets

1.5%

No prior period
Return on Average Equity

9.8%

No prior period
Capital Expenditures

$3.5M

Previous: $590K+492.7%
Free Cash Flow

$11.3M

Previous: $27.6M-58.9%
Net Income

$45.7M

Previous: $29.7M+53.8%
Operating Income

$59.6M

No prior period
Gross Profit

$159M

Previous: $103M+54.9%
Cash & Equivalents

$164M

Previous: $621M-73.6%
Total Assets

$12.3B

Previous: $7.25B+69.1%
Stock-Based Comp

$1.61M

Previous: $435K+271.0%

Revenue & EPS history

WSFS · Revenue · Quarterly

$118M

Q4 2019+81.8%vs Q4 2018
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

WSFS · $26.6M total across 2 segments · Q4 2019

  • Wealth and Trust
    $15.3M+4.1%
  • Cash Connect
    $11.3M

Forward guidance

WSFS looks forward to the continuing execution of its Strategic Plan in 2020, including realizing the Company’s significant growth opportunity and accelerating our Delivery Transformation efforts.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2019

Historical avgQ4 2019

+0.1%

Avg return

Earnings day

+0.6%

Avg return

5 days after

+3.2%

Avg return

30 days after

47%

31 / 66 earnings

Positive

+17.2%

Q1 2020

Best reaction

-8.4%

Q1 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+1.8%+1.4%+2.2%
Q4 2025+6.5%+11.8%+14.6%
Q3 2025+0.2%+0.3%+5.4%
Q2 2025-1.5%-0.4%-0.1%
Q1 2025-0.9%-1.2%+1.2%
Q4 2024+1.3%+2.2%-2.4%
Q3 2024-3.1%-1.6%+19.4%
Q2 2024+1.3%+1.0%-1.4%
Q1 2024-4.9%-5.2%-2.5%
Q4 2023+1.7%+3.3%-8.4%
Q3 2023+0.3%-1.1%+13.1%
Q2 2023-0.2%+4.9%-4.7%
Q1 2023-8.4%-6.2%-9.1%
Q4 2022+1.7%+2.6%+4.7%
Q3 2022-5.5%-5.2%-2.6%
Q2 2022+5.0%+13.3%+17.7%
Q1 2022-3.5%-5.1%-8.7%
Q4 2021+3.4%+0.1%-1.3%
Q3 2021+0.1%-3.8%-3.0%
Q2 2021-3.0%-2.8%+0.2%
Q1 2021+2.2%+4.7%+9.0%
Q4 2020-2.4%-7.7%+16.5%
Q3 2020+5.4%+0.8%+27.4%
Q2 2020+2.0%+3.7%+6.4%
Q1 2020+17.2%+18.4%+30.5%
Q4 2019-4.0%-3.7%-4.9%
Q3 2019+2.8%-1.3%-0.6%
Q2 2019+2.0%+5.4%+6.7%
Q1 2019+0.3%+0.2%-5.9%
Q4 2018+3.7%+2.5%+5.6%
Q3 2018-2.2%-4.5%-6.2%
Q2 2018+3.6%+3.6%-7.4%
Q1 2018+4.2%+3.0%+6.6%
Q4 2017-0.8%+1.7%-3.0%
Q3 2017-2.7%+1.1%-3.6%
Q2 2017-1.5%-2.5%-3.8%
Q1 2017-5.7%-5.8%-12.5%
Q4 2016-2.1%-1.7%+1.1%
Q3 2016-5.2%-1.4%+19.7%
Q2 2016+1.8%-0.4%+10.1%
Q1 2016-1.2%
Q4 2015+1.6%
Q3 2015+1.2%
Q2 2015-1.2%
Q1 2015-0.5%
Q4 2014-2.3%
Q3 2014+1.9%
Q2 2014+0.3%
Q1 2014-2.5%
Q4 2013+2.7%
Q3 2013+7.7%
Q2 2013-3.2%
Q1 2013-0.9%
Q4 2012+3.0%
Q3 2012-0.6%
Q2 2012-0.1%
Q4 2011-0.1%
Q1 2011-2.3%
Q1 2012+0.0%
Q4 2009+2.5%
Q3 2010-2.3%
Q3 2011-2.3%
Q2 2011-5.2%
Q4 2010-5.2%
Q2 2010-5.2%
Q1 2010+8.6%

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