WSFS Financial Corporation (WSFS) Plans Dividend Increase – $0.09 Per Share
WSFS Financial Corporation (NASDAQ:WSFS) declared a quarterly dividend on Tuesday, October 24th, Wall Street Journal reports. Shareholders of record on Tuesday, November 7th will be given a dividend of 0.09 per share by the bank on Tuesday, November 21st. This represents a $0.36 annualized dividend and a yield of 0.73%. The ex-dividend date is Monday, November 6th. This is a positive change from WSFS Financial Corporation’s previous quarterly dividend of $0.07.
Shares of WSFS Financial Corporation (NASDAQ WSFS) traded down 1.69% during midday trading on Tuesday, hitting $49.40. 86,660 shares of the stock were exchanged. WSFS Financial Corporation has a 12-month low of $31.90 and a 12-month high of $52.15. The firm has a 50-day moving average price of $47.45 and a 200 day moving average price of $45.92. The firm has a market cap of $1.55 billion, a PE ratio of 22.61 and a beta of 1.22.
WSFS Financial Corporation (NASDAQ:WSFS) last released its quarterly earnings data on Monday, October 23rd. The bank reported $0.64 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.01). WSFS Financial Corporation had a return on equity of 10.44% and a net margin of 19.96%. The business had revenue of $87.80 million during the quarter, compared to analysts’ expectations of $56.86 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. WSFS Financial Corporation’s quarterly revenue was up 16.2% on a year-over-year basis. Analysts predict that WSFS Financial Corporation will post $2.56 earnings per share for the current fiscal year.
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Several research firms recently commented on WSFS. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $50.00 price objective on shares of WSFS Financial Corporation in a research report on Tuesday. Boenning Scattergood reiterated a “buy” rating and issued a $49.00 price objective on shares of WSFS Financial Corporation in a research report on Friday, July 28th. Finally, BidaskClub lowered shares of WSFS Financial Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $51.33.
In other WSFS Financial Corporation news, EVP S James Mazarakis sold 7,161 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $44.86, for a total value of $321,242.46. Following the transaction, the executive vice president now directly owns 48,288 shares in the company, valued at approximately $2,166,199.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Peggy H. Eddens sold 8,580 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $44.29, for a total transaction of $380,008.20. Following the completion of the transaction, the executive vice president now owns 27,659 shares in the company, valued at $1,225,017.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,240 shares of company stock worth $723,172. 4.89% of the stock is owned by insiders.
About WSFS Financial Corporation
WSFS Financial Corporation is a savings and loan holding company. The Company’s subsidiary is Wilmington Savings Fund Society, FSB (WSFS Bank or the Bank), which is the bank and trust company. It operates in three segments: WSFS Bank, Cash Connect and Wealth Management. The WSFS Bank segment provides loans and other financial products to commercial and retail customers.
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