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

Key Points

• WSFS Financial declared a quarterly dividend of $0.20 per share, payable on August 21 to shareholders of record on August 7. The stock’s dividend yield is about 1.0%.
• The dividend appears well covered, with a 16.1% payout ratio and expected future payout ratio of 12.0% based on analyst earnings estimates. WSFS has also increased its dividend modestly over the past three years.
• The bank reported better-than-expected quarterly results, earning $1.66 per share versus the $1.50 estimate and posting revenue of $284.7 million. Shares were trading around $80.49, near their 52-week high of $82.30.

WSFS Financial Corporation (NASDAQ:WSFS - Get Free Report) declared a quarterly dividend on Thursday, July 23rd. Shareholders of record on Friday, August 7th will be given 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% indicating that 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 Stock Performance

Shares of WSFS stock traded up $1.53 during mid-day trading on Friday, hitting $80.49. 306,329 shares of the stock were exchanged, compared to its average volume of 446,652. The stock's fifty day simple moving average is $74.87 and its two-hundred day simple moving average is $68.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 0.85. WSFS Financial has a 12-month low of $49.92 and a 12-month high of $82.30. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of 14.36 and a beta of 0.76.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last posted its earnings results on Thursday, July 23rd. The bank reported $1.66 earnings per share for the quarter, beating the consensus estimate 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 quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.27 EPS. On average, analysts forecast that WSFS Financial will post 6.32 EPS for the current year.

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.

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