Principal Financial Group Inc. Has $15.44 Million Stake in WSFS Financial Co. (NASDAQ:WSFS)

Principal Financial Group Inc. reduced its position in shares of WSFS Financial Co. (NASDAQ:WSFS) by 3.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 328,590 shares of the bank’s stock after selling 12,677 shares during the period. Principal Financial Group Inc. owned about 0.55% of WSFS Financial worth $15,444,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of WSFS. Fidelis Capital Partners LLC acquired a new position in WSFS Financial during the 1st quarter worth approximately $45,000. GAMMA Investing LLC boosted its holdings in WSFS Financial by 40.5% during the second quarter. GAMMA Investing LLC now owns 1,023 shares of the bank’s stock worth $48,000 after purchasing an additional 295 shares during the last quarter. TFO Wealth Partners LLC grew its position in WSFS Financial by 115,450.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,311 shares of the bank’s stock valued at $106,000 after purchasing an additional 2,309 shares in the last quarter. Innealta Capital LLC acquired a new stake in WSFS Financial in the 2nd quarter valued at $114,000. Finally, Los Angeles Capital Management LLC bought a new stake in WSFS Financial during the 4th quarter worth about $212,000. 88.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WSFS has been the subject of several analyst reports. DA Davidson raised their price objective on WSFS Financial from $59.00 to $68.00 and gave the company a “buy” rating in a report on Monday, July 29th. Stephens raised their price target on WSFS Financial from $54.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods upped their price objective on WSFS Financial from $53.00 to $61.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Finally, Piper Sandler raised their target price on shares of WSFS Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $61.50.

WSFS Financial Price Performance

Shares of NASDAQ WSFS opened at $53.04 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average price is $51.72 and its two-hundred day moving average price is $46.56. The company has a market cap of $3.14 billion, a PE ratio of 11.84 and a beta of 1.02. WSFS Financial Co. has a twelve month low of $33.12 and a twelve month high of $58.59.

WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Thursday, July 25th. The bank reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. WSFS Financial had a return on equity of 11.47% and a net margin of 20.04%. The business had revenue of $266.00 million for the quarter, compared to analyst estimates of $254.48 million. During the same period in the previous year, the firm earned $1.16 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. On average, analysts predict that WSFS Financial Co. will post 4.33 EPS for the current year.

WSFS Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Friday, August 9th. WSFS Financial’s payout ratio is presently 13.39%.

Insider Transactions at WSFS Financial

In other WSFS Financial news, EVP Stephen P. Clark sold 12,663 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $56.52, for a total value of $715,712.76. Following the transaction, the executive vice president now directly owns 25,671 shares of the company’s stock, valued at approximately $1,450,924.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.29% of the stock is currently owned by corporate insiders.

WSFS Financial 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.