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

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

WSFS Financial has increased its dividend by an average of 7.7% annually over the last three years. WSFS Financial has a dividend payout ratio of 13.9% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 3.2 %

WSFS stock traded down $1.63 during midday trading on Friday, reaching $49.10. 280,864 shares of the company’s stock traded hands, compared to its average volume of 271,107. WSFS Financial has a fifty-two week low of $33.69 and a fifty-two week high of $58.59. The company has a market capitalization of $2.91 billion, a P/E ratio of 10.86 and a beta of 1.01. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50-day moving average price of $51.45 and a two-hundred day moving average price of $48.53.

WSFS Financial (NASDAQ:WSFS) last announced its earnings results on Thursday, October 24th. The bank reported $1.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.08. The company had revenue of $267.61 million for the quarter, compared to analyst estimates of $260.35 million. WSFS Financial had a return on equity of 11.47% and a net margin of 20.04%. WSFS Financial’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 EPS. Equities research analysts forecast that WSFS Financial will post 4.31 EPS for the current fiscal year.

Insider Buying and Selling

In other WSFS Financial news, EVP Stephen P. Clark sold 12,663 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $56.52, for a total value of $715,712.76. Following the completion of the sale, the executive vice president now directly owns 25,671 shares in the company, valued at $1,450,924.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.29% of the company’s stock.

Analyst Upgrades and Downgrades

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

WSFS Financial Company Profile

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.