WSFS Financial Corporation Announces Quarterly Dividend of $0.20 (NASDAQ:WSFS)

WSFS Financial Corporation (NASDAQ:WSFS) declared a quarterly dividend on Thursday, July 23rd. Shareholders of record on Friday, August 7th will be paid a dividend of 0.20 per share by the bank on Friday, August 21st. This represents a c) annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, August 7th.

WSFS Financial has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 1 years. WSFS Financial has a dividend payout ratio of 16.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect WSFS Financial to earn $6.66 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 12.0%.

WSFS Financial Trading Up 2.0%

Shares of WSFS Financial stock traded up $1.61 during trading hours on Friday, reaching $80.57. 313,036 shares of the company’s stock were exchanged, compared to its average volume of 446,735. WSFS Financial has a 52-week low of $49.92 and a 52-week high of $82.30. The company has a fifty day moving average of $74.87 and a 200-day moving average of $68.68. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of 14.31 and a beta of 0.76.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.16. The business had revenue of $284.70 million during the quarter, compared to the consensus estimate of $278.41 million. WSFS Financial had a return on equity of 11.23% and a net margin of 22.55%.The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.27 earnings per share. Sell-side analysts forecast that WSFS Financial will post 6.32 EPS for the current fiscal year.

Analyst Ratings Changes

WSFS has been the topic of a number of research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of WSFS Financial in a research note on Friday, June 12th. Zacks Research downgraded shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Stephens reiterated an “overweight” rating and set a $81.00 price objective (up from $79.00) on shares of WSFS Financial in a report on Monday, April 27th. Piper Sandler reissued a “neutral” rating and issued a $80.00 target price (up from $72.00) on shares of WSFS Financial in a research report on Wednesday, May 6th. Finally, TD Cowen restated a “buy” rating and issued a $82.00 target price (up from $77.00) on shares of WSFS Financial in a report on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.07.

About WSFS Financial

WSFS Financial Corporation is the bank holding company for WSFS Bank, a regional financial institution headquartered in Wilmington, Delaware. The company traces its roots to the Safe Deposit & Trust Company, founded in 1832, and formally organized as WSFS Financial in the mid-1980s. Over its long history, WSFS has grown through a combination of organic expansion and selective acquisitions to serve a broad base of individual, commercial and institutional clients.

WSFS Bank offers a full suite of banking and financial services, including retail and commercial deposit accounts, commercial and industrial lending, real estate financing, and treasury management solutions.