WSFS Bank appoints new senior VP for Private Banking By Investing.com

WILMINGTON, Del. – WSFS Bank, a subsidiary of WSFS Financial Corporation (NASDAQ:WSFS), announced the appointment of John Heiser as the Senior Vice President and Senior Private Banking Relationship Manager. Heiser, with over 20 years of experience in wealth management, joins the bank’s Private Wealth Management team to oversee high-net-worth client relationships, offering services in credit, deposit, and wealth management.

Heiser’s expertise is expected to enhance the bank’s capabilities in serving its affluent client base. His previous tenure includes 12 years at Wilmington Trust, where he held roles as a Senior Private Banker and mortgage advisor to ultra-high-net-worth clients. Heiser’s educational background comprises a master’s degree in education from Cabrini College and a bachelor’s degree in English from Temple University.

Harrison Gelber, Senior Vice President and Director of Private Banking at WSFS, expressed confidence in Heiser’s ability to contribute to the growth and quality of the bank’s wealth management services. Heiser himself remarked on the excitement of joining WSFS during a period of significant expansion.

WSFS Financial Corporation, with a history dating back to 1832, operates 114 offices across multiple states, including Pennsylvania, Delaware, New Jersey, Florida, Nevada, and Virginia. As of June 30, 2024, the corporation reported $20.7 billion in assets and $84.9 billion in assets under management and administration. The company offers a range of financial services from commercial to consumer banking, as well as wealth management.

In other recent news, WSFS Financial Corporation has been the subject of analysis by Piper Sandler and Stephens, both of which have adjusted their price targets for the company following its second-quarter earnings report. WSFS’s Q2 earnings per share (EPS) of $1.16, adjusted to $1.08 after accounting for one-time items, exceeded both Piper Sandler’s and the consensus estimate of $1.04. This earnings beat was largely due to a 13% quarter-over-quarter increase in operating fees, driven by gains in WSFS’s Cash Connect business and wealth management segments.

InvestingPro Insights

As WSFS Bank continues to bolster its Private Wealth Management team with the addition of John Heiser, the financial metrics and analyst insights from InvestingPro offer a broader view of the company’s financial health and market performance. WSFS Financial Corporation (NASDAQ:WSFS) has demonstrated a strong commitment to its shareholders, evidenced by its impressive track record of raising its dividend for 10 consecutive years and maintaining dividend payments for 27 consecutive years, an indicator of the company’s financial stability and reliability.

InvestingPro Data shows a market capitalization of $3.2 billion, showcasing the bank’s significant presence in the financial sector. The Price/Earnings (P/E) Ratio stands at 11.92, which could indicate that the stock is reasonably valued relative to its earnings. Moreover, WSFS has experienced substantial returns, with a 1-month price total return of 21.75% and a 3-month price total return of 29.45%, highlighting the company’s strong recent performance in the market.

InvestingPro Tips reveal that analysts are optimistic about WSFS’s prospects, with 3 analysts having revised their earnings upwards for the upcoming period. This positive sentiment is further supported by the prediction that the company will be profitable this year, a fact corroborated by its profitability over the last twelve months. For those interested in more detailed analysis and additional insights, there are more InvestingPro Tips available at https://www.investing.com/pro/WSFS.

The strategic appointment of John Heiser aligns with WSFS’s robust financial standing and growth trajectory, underscoring the bank’s dedication to serving its high-net-worth clients with an expanding suite of wealth management services. As WSFS continues to evolve, these financial metrics and insights will remain crucial for investors monitoring the company’s progress.

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