WSFS Financial Corporation (NASDAQ:WSFS) Announces Dividend Increase - $0.20 Per Share

Key Points

• Dividend increase: WSFS raised its quarterly dividend to $0.20 per share (a 17.6% increase from $0.17), payable May 22 to holders of record on May 8, implying an annualized yield of about 1.1%.
• Strong quarterly results and dividend coverage: The bank beat estimates with Q EPS of $1.68 versus $1.40 expected and revenue of $275.3M, and a low payout ratio (~13.7%) plus analyst forecasts of $6.37 EPS next year suggest the dividend is well covered.
• Valuation and stock profile: Shares trade near $70.15 with a market cap of $3.67B and a P/E of about 13.8, and the stock sits in a 52-week range of $48.64–$72.14.

WSFS Financial Corporation (NASDAQ:WSFS - Get Free Report) announced a quarterly dividend on Thursday, April 23rd. Investors of record on Friday, May 8th will be paid a dividend of 0.20 per share by the bank on Friday, May 22nd. This represents a c) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, May 8th. This is a 17.6% increase from WSFS Financial's previous quarterly dividend of $0.17.

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 payout ratio of 13.7% meaning its dividend is sufficiently covered by earnings. Analysts expect WSFS Financial to earn $6.37 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 10.7%.

WSFS Financial Stock Performance

Shares of WSFS opened at $70.15 on Friday. The stock's 50-day simple moving average is $65.99 and its 200 day simple moving average is $60.04. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 13.75 and a beta of 0.75. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.84. WSFS Financial has a 52-week low of $48.64 and a 52-week high of $72.14.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $1.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.28. The business had revenue of $275.25 million for the quarter, compared to analysts' expectations of $274.17 million. WSFS Financial had a return on equity of 10.89% and a net margin of 21.14%.The firm's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.13 EPS. Research analysts forecast that WSFS Financial will post 5.9 EPS for the current fiscal 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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