Principal Financial Group Inc. Boosts Holdings in WSFS Financial Corporation (NASDAQ:WSFS)

Principal Financial Group Inc. raised its holdings in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 324,266 shares of the bank's stock after purchasing an additional 7,012 shares during the quarter. Principal Financial Group Inc. owned 0.56% of WSFS Financial worth $16,820,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. boosted its stake in shares of WSFS Financial by 0.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,313,175 shares of the bank's stock worth $122,899,000 after acquiring an additional 19,895 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in WSFS Financial by 309.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,687,824 shares of the bank's stock valued at $89,674,000 after buying an additional 1,276,078 shares in the last quarter. Northern Trust Corp lifted its stake in WSFS Financial by 1.2% in the 4th quarter. Northern Trust Corp now owns 809,334 shares of the bank's stock valued at $43,000,000 after buying an additional 9,542 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in WSFS Financial by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 740,584 shares of the bank's stock valued at $39,347,000 after buying an additional 19,650 shares in the last quarter. Finally, Frontier Capital Management Co. LLC lifted its stake in WSFS Financial by 7.3% in the 4th quarter. Frontier Capital Management Co. LLC now owns 718,978 shares of the bank's stock valued at $38,199,000 after buying an additional 48,822 shares in the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

WSFS Financial Stock Down 0.2%

Shares of NASDAQ WSFS opened at $58.23 on Friday. The company has a 50 day simple moving average of $54.27 and a 200-day simple moving average of $53.15. The company has a market capitalization of $3.31 billion, a P/E ratio of 13.09 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 1 year low of $42.44 and a 1 year high of $62.75.

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

WSFS Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Friday, May 9th. This is an increase from WSFS Financial's previous quarterly dividend of $0.15. WSFS Financial's dividend payout ratio (DPR) is 15.28%.

Analyst Ratings Changes

WSFS has been the topic of a number of research reports. Stephens reaffirmed an "overweight" rating and issued a $64.00 price target on shares of WSFS Financial in a research note on Monday, April 28th. Wall Street Zen downgraded shares of WSFS Financial from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Finally, Keefe, Bruyette & Woods cut 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 report on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $62.75.

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.

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