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

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

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. Research 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 Trading Down 0.4 %

WSFS Financial stock traded down $0.23 during midday trading on Friday, reaching $56.86. The stock had a trading volume of 520,323 shares, compared to its average volume of 275,344. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.46. WSFS Financial has a 52-week low of $33.12 and a 52-week high of $58.59. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 12.69 and a beta of 1.02. The company has a fifty day moving average of $46.82 and a 200 day moving average of $44.82.

WSFS Financial (NASDAQ:WSFS) last issued its earnings results on Thursday, July 25th. The bank reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The business had revenue of $266.00 million for the quarter, compared to analyst estimates of $254.48 million. WSFS Financial had a net margin of 20.73% and a return on equity of 11.94%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company posted $1.16 earnings per share. On average, 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 firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $46.61, for a total value of $139,830.00. Following the completion of the transaction, the executive vice president now owns 25,671 shares of the company’s stock, valued at $1,196,525.31. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.29% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler increased their price objective on shares of WSFS Financial from $45.00 to $48.00 and gave the company 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.