WSFS Financial Corporation Plans Quarterly Dividend of $0.17 (NASDAQ:WSFS)

Key Points

• WSFS Financial Corporation has declared a quarterly dividend of $0.17 per share, payable on November 21st to shareholders of record as of November 7th, resulting in an annual yield of 1.3%.
• The company is expected to earn $4.85 per share next year, maintaining a dividend payout ratio around 14%, indicating strong earnings coverage for its annual dividend of $0.68.
• WSFS stock currently has a market cap of $2.96 billion and an average analyst rating of "Moderate Buy," with a consensus target price of $66.25.

WSFS Financial Corporation (NASDAQ:WSFS - Get Free Report) declared a quarterly dividend on Thursday, October 23rd. Shareholders of record on Friday, November 7th will be paid a dividend of 0.17 per share by the bank on Friday, November 21st. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 7th.

WSFS Financial has a dividend payout ratio of 13.7% meaning its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of WSFS stock opened at $52.80 on Friday. WSFS Financial has a 52-week low of $42.44 and a 52-week high of $62.75. The stock has a market cap of $2.96 billion, a PE ratio of 11.58 and a beta of 0.86. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.83 and a current ratio of 0.84. The firm's 50 day moving average price is $55.22 and its two-hundred day moving average price is $54.16.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 3rd. The bank reported $1.39 earnings per share (EPS) for the quarter. The firm had revenue of $161.68 million for the quarter. WSFS Financial had a net margin of 19.29% and a return on equity of 10.15%. As a group, analysts forecast that WSFS Financial will post 4.47 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WSFS. Weiss Ratings reissued a "buy (b-)" rating on shares of WSFS Financial in a research report on Wednesday, October 8th. TD Cowen began coverage on shares of WSFS Financial in a research report on Thursday, September 25th. They set a "buy" rating and a $67.00 price target on the stock. Finally, DA Davidson cut shares of WSFS Financial from a "strong-buy" rating to a "hold" rating in a research report on Monday. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $66.25.

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.

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