WSFS Financial Corporation (NASDAQ:WSFS) Declares $0.17 Quarterly Dividend

WSFS Financial Corporation (NASDAQ:WSFS) declared a quarterly dividend on Monday, January 26th. Stockholders of record on Friday, February 13th will be given a dividend of 0.17 per share by the bank on Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, February 13th.

WSFS Financial has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. WSFS Financial has a dividend payout ratio of 13.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect WSFS Financial to earn $4.85 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 14.0%.

WSFS Financial Stock Performance

Shares of WSFS Financial stock traded up $2.84 on Tuesday, reaching $60.76. 34,354 shares of the company were exchanged, compared to its average volume of 330,805. WSFS Financial has a 1-year low of $42.44 and a 1-year high of $60.54. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 12.55 and a beta of 0.80. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.84 and a current ratio of 0.84. The company’s 50-day moving average is $56.49 and its two-hundred day moving average is $55.65.

WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings results on Monday, January 26th. The bank reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.17. WSFS Financial had a net margin of 20.44% and a return on equity of 10.60%. The company had revenue of $90.08 million during the quarter, compared to analyst estimates of $267.36 million. During the same period in the prior year, the business posted $1.11 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, research analysts expect that WSFS Financial will post 4.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. DA Davidson lowered WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of WSFS Financial in a research report on Wednesday, January 21st. TD Cowen reaffirmed a “buy” rating on shares of WSFS Financial in a research note on Wednesday, January 7th. Finally, Piper Sandler set a $62.00 price objective on shares of WSFS Financial and gave the company a “neutral” rating in a research report on Wednesday, December 17th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, WSFS Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.40.

WSFS Financial Company Profile

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.