WSFS Financial Co. (NASDAQ:WSFS) to Issue $0.15 Quarterly Dividend

WSFS Financial Co. (NASDAQ:WSFS) declared a quarterly dividend on Thursday, July 25th, NASDAQ reports. Stockholders of record on Friday, August 9th will be paid a dividend of 0.15 per share by the bank on Friday, August 23rd. This represents a $0.60 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, August 9th.

WSFS Financial has raised its dividend payment by an average of 7.7% per year over the last three years. WSFS Financial has a payout ratio of 13.9% meaning its dividend is sufficiently covered by earnings. Analysts expect WSFS Financial to earn $4.37 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 13.7%.

WSFS Financial Stock Down 0.4 %

Shares of WSFS Financial stock traded down $0.23 during trading hours on Friday, hitting $56.86. The company had a trading volume of 520,323 shares, compared to its average volume of 275,344. The company has a market cap of $3.42 billion, a P/E ratio of 12.69 and a beta of 1.02. The company’s 50-day moving average is $46.82 and its two-hundred day moving average is $44.82. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.86 and a quick ratio of 0.85. WSFS Financial has a twelve month low of $33.12 and a twelve month high of $58.59.

WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The firm had revenue of $266.00 million during the quarter, compared to analysts’ expectations of $254.48 million. WSFS Financial had a net margin of 20.73% and a return on equity of 11.94%. WSFS Financial’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.16 EPS. Analysts anticipate that WSFS Financial will post 4.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other WSFS Financial news, EVP Stephen P. Clark sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $46.61, for a total transaction of $139,830.00. Following the completion of the transaction, the executive vice president now owns 25,671 shares in the company, valued at approximately $1,196,525.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Piper Sandler increased their price target on shares of WSFS Financial from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 22nd.

About WSFS Financial

WSFS Financial Corporation operates as the savings and loan holding company for the Wilmington Savings Fund Society, FSB that provides various banking services in the United States. It operates through three segments: WSFS Bank, Cash Connect, and Wealth Management. It offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as accepts jumbo certificates of deposit from individuals, businesses, and municipalities.