WSFS Financial Co. (NASDAQ:WSFS) Declares Quarterly Dividend of $0.15

by · The Markets Daily

WSFS Financial Co. (NASDAQ:WSFS – Get Free Report) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Stockholders of record on Friday, November 8th will be paid a dividend of 0.15 per share by the bank on Friday, November 22nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Friday, November 8th.

WSFS Financial has raised its dividend payment by an average of 7.7% annually over the last three years. WSFS Financial has a dividend payout ratio of 13.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect WSFS Financial to earn $4.39 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 3.2 %

Shares of WSFS stock traded down $1.63 during trading on Friday, hitting $49.10. 280,864 shares of the company were exchanged, compared to its average volume of 271,107. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 10.86 and a beta of 1.01. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.86 and a current ratio of 0.86. The business’s 50-day simple moving average is $51.45 and its 200 day simple moving average is $48.53. WSFS Financial has a twelve month low of $33.69 and a twelve month high of $58.59.

WSFS Financial (NASDAQ:WSFS – Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $1.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.08. The business had revenue of $267.61 million for the quarter, compared to the consensus estimate of $260.35 million. WSFS Financial had a net margin of 20.04% and a return on equity of 11.47%. WSFS Financial’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.23 earnings per share. As a group, analysts forecast that WSFS Financial will post 4.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Stephen P. Clark sold 12,663 shares of WSFS Financial stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $56.52, for a total value of $715,712.76. Following the transaction, the executive vice president now owns 25,671 shares of the company’s stock, valued at $1,450,924.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WSFS. Piper Sandler lifted their price target on WSFS Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods boosted their target price on shares of WSFS Financial from $53.00 to $61.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. DA Davidson raised their price target on shares of WSFS Financial from $59.00 to $68.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Stephens lifted their price objective on shares of WSFS Financial from $54.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, July 29th.

View Our Latest Analysis on WSFS Financial

About WSFS Financial

(Get Free Report)

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.

Recommended Stories