WSFS Financial (WSFS) Misses Q3 EPS by 1c

WSFS Financial (NASDAQ: WSFS) reported Q3 EPS of $0.64, $0.01 worse than the analyst estimate of $0.65.

Highlights for 3Q 2017:

• Core earnings per share (EPS)(1) of $0.64 increased 25% from $0.51 in 3Q 2016.
• Core ROA(1) was 1.21% for 3Q 2017 compared to 1.03% for 3Q 2016. Core return on average tangible common equity(1) was 15.27% for 3Q 2017 compared to 12.16% for 3Q 2016.
• Core net revenue(1) of $87.8 million increased $12.3 million, or 16% from 3Q 2016, including a $7.1 million, or 14% increase in core net interest income(1) and a $5.2 million, or 19% increase in core fee income (noninterest income)(1) across several business lines.
• WSFS executed the planned redemption of $55.0 million in aggregate principal amount of our 6.25% senior notes due 2019 on September 1, 2017. This contributed to the improved net interest margin of 3.95% for 3Q 2017 compared to 3.84% for 3Q 2016 and 3.93% in 2Q 2017.
• The Board of Directors approved a 29% increase in the quarterly cash dividend to $0.09 per share of common stock from the previous $0.07 per share.

For earnings history and earnings-related data on WSFS Financial (WSFS) click here.

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