WSFS Financial Corporation (NASDAQ:WSFS) Shares to Pay Quarterly Dividend of $0.20

WSFS Financial Corporation (NASDAQ:WSFS) announced a quarterly dividend on Thursday, October 22nd. Investors of record on Friday, November 6th will be paid 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 of this dividend is Friday, November 6th.

WSFS Financial has raised its dividend by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. WSFS Financial has a payout ratio of 16.1% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 1.1%

WSFS stock traded up $0.84 during midday trading on Friday, hitting $78.36. The stock had a trading volume of 41,443 shares, compared to its average volume of 413,535. The firm has a market cap of $4.00 billion, a PE ratio of 13.11 and a beta of 0.84. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84. WSFS Financial has a 12-month low of $50.79 and a 12-month high of $82.94. The company’s 50-day moving average price is $78.00 and its 200 day moving average price is $75.75.

WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings results on Thursday, October 22nd. The bank reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.13. WSFS Financial had a return on equity of 11.71% and a net margin of 23.34%. The company had revenue of $287.57 million for the quarter, compared to analyst estimates of $289.82 million. During the same quarter in the prior year, the company posted $1.37 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities research analysts predict that WSFS Financial will post 6.59 earnings per share for the current fiscal year.

Insider Transactions at WSFS Financial

In other WSFS Financial news, Director Michael Donahue sold 3,247 shares of the business’s stock in a transaction dated 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 sale, the director owned 11,495 shares of the company’s stock, valued at approximately $913,392.70. The trade was a 22.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Shari Kruzinski sold 3,500 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $81.74, for a total value of $286,090.00. Following the sale, the executive vice president owned 15,207 shares of the company’s stock, valued at $1,243,020.18. This represents a 18.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WSFS. Legal & General Group Plc acquired a new stake in shares of WSFS Financial in the second quarter worth $9,147,000. WINTON GROUP Ltd purchased a new position in shares of WSFS Financial in the 2nd quarter valued at $5,013,000. Jupiter Topco LLC purchased a new stake in WSFS Financial during the 2nd quarter worth $1,629,000. California State Teachers Retirement System boosted its position in WSFS Financial by 25.5% during the 1st quarter. California State Teachers Retirement System now owns 66,481 shares of the bank’s stock worth $4,352,000 after purchasing an additional 13,525 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in WSFS Financial during the 2nd quarter worth $1,384,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

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.