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

WSFS Financial Corporation (NASDAQ:WSFS) declared a quarterly dividend on Thursday, April 23rd. Investors of record on Friday, May 8th will be given 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 is Friday, May 8th. This is a 17.6% increase from WSFS Financial’s previous quarterly dividend of $0.17.

WSFS Financial has raised 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 13.7% indicating that 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 Trading Up 1.1%

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

WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.28. The business had revenue of $275.25 million during the quarter, compared to the consensus estimate of $274.17 million. WSFS Financial had a return on equity of 10.89% and a net margin of 21.14%.The company’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.13 earnings per share. On average, research analysts predict that WSFS Financial will post 5.9 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.