Principal Financial Group Inc. Cuts Position in WSFS Financial Co. (NASDAQ:WSFS)

Principal Financial Group Inc. cut its stake in shares of WSFS Financial Co. (NASDAQ:WSFS - Free Report) by 6.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 306,339 shares of the bank's stock after selling 22,251 shares during the quarter. Principal Financial Group Inc. owned 0.52% of WSFS Financial worth $15,620,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC grew its stake in shares of WSFS Financial by 5,000.0% during the 3rd quarter. International Assets Investment Management LLC now owns 918 shares of the bank's stock worth $47,000 after purchasing an additional 900 shares during the period. GAMMA Investing LLC raised its stake in shares of WSFS Financial by 40.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,023 shares of the bank's stock worth $48,000 after buying an additional 295 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of WSFS Financial in the 2nd quarter worth about $114,000. SG Americas Securities LLC acquired a new stake in shares of WSFS Financial in the third quarter valued at approximately $127,000. Finally, Ascent Group LLC acquired a new position in shares of WSFS Financial during the 2nd quarter worth approximately $201,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $54.00 price target (down previously from $58.00) on shares of WSFS Financial in a research report on Tuesday, October 29th. DA Davidson boosted their target price on shares of WSFS Financial from $59.00 to $68.00 and gave the company a "buy" rating in a research note on Monday, July 29th. Janney Montgomery Scott restated a "neutral" rating on shares of WSFS Financial in a report on Monday, October 28th. Piper Sandler boosted their price objective on shares of WSFS Financial from $48.00 to $55.00 and gave the company a "neutral" rating in a research report on Tuesday, July 30th. Finally, Stephens upped their price objective on shares of WSFS Financial from $54.00 to $62.00 and gave the company an "overweight" rating in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $59.75.

WSFS Financial Trading Down 0.1 %

Shares of NASDAQ WSFS traded down $0.05 on Friday, reaching $57.47. 258,345 shares of the company traded hands, compared to its average volume of 283,199. The stock has a market capitalization of $3.38 billion, a PE ratio of 13.12 and a beta of 1.02. WSFS Financial Co. has a fifty-two week low of $37.09 and a fifty-two week high of $60.54. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average of $51.68 and a 200 day moving average of $49.69.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $1.08 EPS for the quarter, topping the consensus estimate of $1.06 by $0.02. The firm had revenue of $267.61 million during the quarter, compared to analyst estimates of $260.35 million. WSFS Financial had a net margin of 18.78% and a return on equity of 10.56%. WSFS Financial's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 earnings per share. On average, equities research analysts forecast that WSFS Financial Co. will post 4.27 earnings per share for the current fiscal year.

WSFS Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Friday, November 8th. WSFS Financial's payout ratio is currently 13.70%.

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.