Principal Financial Group Inc. Has $16.82 Million Stake in WSFS Financial Corporation (NASDAQ:WSFS)

Principal Financial Group Inc. raised its stake in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 324,266 shares of the bank's stock after purchasing an additional 7,012 shares during the period. Principal Financial Group Inc. owned approximately 0.56% of WSFS Financial worth $16,820,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Versant Capital Management Inc raised its stake in shares of WSFS Financial by 90.0% in the 1st quarter. Versant Capital Management Inc now owns 532 shares of the bank's stock valued at $28,000 after buying an additional 252 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of WSFS Financial by 2,500.0% in the 4th quarter. Farther Finance Advisors LLC now owns 572 shares of the bank's stock valued at $30,000 after buying an additional 550 shares in the last quarter. Crowley Wealth Management Inc. acquired a new stake in shares of WSFS Financial during the 4th quarter worth about $32,000. VSM Wealth Advisory LLC acquired a new stake in shares of WSFS Financial during the 4th quarter worth about $40,000. Finally, AlphaQuest LLC acquired a new stake in shares of WSFS Financial during the 4th quarter worth about $84,000. 88.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WSFS. Stephens reiterated an "overweight" rating and set a $64.00 target price on shares of WSFS Financial in a research report on Monday, April 28th. Wall Street Zen cut shares of WSFS Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of WSFS Financial from $66.00 to $64.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, WSFS Financial has a consensus rating of "Hold" and an average target price of $62.75.

WSFS Financial Trading Down 3.1%

Shares of NASDAQ WSFS traded down $1.83 during mid-day trading on Tuesday, hitting $57.16. The company's stock had a trading volume of 204,620 shares, compared to its average volume of 314,538. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 12.84 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.83 and a quick ratio of 0.83. WSFS Financial Corporation has a one year low of $42.44 and a one year high of $62.75. The company's fifty day simple moving average is $54.27 and its 200-day simple moving average is $53.14.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.09. The company had revenue of $256.11 million for the quarter, compared to analyst estimates of $235.44 million. WSFS Financial had a net margin of 18.86% and a return on equity of 10.06%. The company's revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.11 EPS. On average, sell-side analysts anticipate that WSFS Financial Corporation will post 4.47 earnings per share for the current fiscal year.

WSFS Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a dividend of $0.17 per share. This is a positive change from WSFS Financial's previous quarterly dividend of $0.15. The ex-dividend date was Friday, May 9th. This represents a $0.68 annualized dividend and a yield of 1.19%. WSFS Financial's dividend payout ratio (DPR) is presently 15.28%.

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.