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

WSFS Financial Co. (NASDAQ:WSFS - Get Free Report) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders 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 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend 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 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 Stock Down 3.2 %

WSFS traded down $1.63 during mid-day trading on Friday, reaching $49.10. 280,864 shares of the stock were exchanged, compared to its average volume of 271,107. WSFS Financial has a 1 year low of $33.69 and a 1 year high of $58.59. 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 stock has a market capitalization of $2.91 billion, a PE ratio of 10.86 and a beta of 1.01. The company has a 50 day moving average price of $51.45 and a two-hundred day moving average price of $48.55.

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

Insider Buying and Selling

In related 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 sale, the executive vice president now owns 25,671 shares of the company's stock, valued at approximately $1,450,924.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on WSFS shares. Piper Sandler lifted their target price on shares of WSFS Financial from $48.00 to $55.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 30th. DA Davidson lifted their target price on shares of WSFS Financial from $59.00 to $68.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods lifted 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. Finally, Stephens lifted their target price on shares of WSFS Financial from $54.00 to $62.00 and gave the stock an "overweight" rating in a research report 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.