WSFS Financial Corporation (NASDAQ:WSFS) Shareholders to Get $0.20 Quarterly Dividend

WSFS Financial Corporation (NASDAQ:WSFS) announced a quarterly dividend on Thursday, October 22nd. Investors of record on Friday, November 6th will be given a dividend of $0.20 per share by the bank on Friday, November 20th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, November 6th.

WSFS Financial has increased its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 1 years. WSFS Financial has a payout ratio of 16.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect WSFS Financial to earn $6.96 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 11.5%.

WSFS Financial Price Performance

WSFS stock traded up $0.83 during trading on Friday, hitting $78.34. 34,973 shares of the company’s stock traded hands, compared to its average volume of 413,530. The business has a fifty day simple moving average of $78.00 and a 200 day simple moving average of $75.75. WSFS Financial has a 52 week low of $50.79 and a 52 week high of $82.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 13.10 and a beta of 0.84.

WSFS Financial (NASDAQ:WSFS) last announced its earnings results on Thursday, October 22nd. The bank reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.13. WSFS Financial had a net margin of 23.34% and a return on equity of 11.71%. The firm had revenue of $287.57 million for the quarter, compared to analysts’ expectations of $289.82 million. During the same period in the prior year, the company earned $1.37 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. As a group, research analysts expect that WSFS Financial will post 6.59 EPS for the current fiscal year.

Insider Transactions at WSFS Financial

In other WSFS Financial news, Director Michael J. Donahue sold 3,247 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $79.46, for a total transaction of $258,006.62. Following the completion of the transaction, the director owned 11,495 shares in the company, valued at $913,392.70. The trade was a 22.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Shari Kruzinski sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $81.74, for a total value of $286,090.00. Following the transaction, the executive vice president directly owned 15,207 shares in the company, valued at approximately $1,243,020.18. This represents a 18.71% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On WSFS Financial

A number of institutional investors and hedge funds have recently modified their holdings of the business. Root Financial Partners LLC bought a new stake in WSFS Financial during the 3rd quarter valued at about $36,000. Reyes Financial Architecture Inc. bought a new position in WSFS Financial in the third quarter worth approximately $62,000. Robeco Institutional Asset Management B.V. purchased a new position in WSFS Financial during the 3rd quarter worth $329,000. Counterpoint Mutual Funds LLC purchased a new position in WSFS Financial during the 3rd quarter worth $258,000. Finally, USA Financial Formulas bought a new stake in WSFS Financial during the 3rd quarter valued at $40,000. 88.49% of the stock is owned by institutional investors.

About WSFS Financial

WSFS Financial Corporation is the financial holding company for WSFS Bank, a full-service community banking institution headquartered in Wilmington, Delaware. Founded in 1832, WSFS is one of the oldest and largest locally managed banks in the Delaware Valley.

WSFS Bank provides a range of banking services for individuals, families, businesses and institutions. Its offerings include checking and savings accounts, consumer lending, residential mortgages, commercial loans, treasury and cash-management services, and online and mobile banking.