Hsbc Holdings PLC Buys 16,671 Shares of WSFS Financial Co. (NASDAQ:WSFS)

Hsbc Holdings PLC raised its stake in shares of WSFS Financial Co. (NASDAQ:WSFS - Free Report) by 222.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,153 shares of the bank's stock after purchasing an additional 16,671 shares during the period. Hsbc Holdings PLC's holdings in WSFS Financial were worth $1,284,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its stake in WSFS Financial by 3.6% in the 4th quarter. Principal Financial Group Inc. now owns 317,254 shares of the bank's stock valued at $16,856,000 after buying an additional 10,915 shares during the last quarter. Sei Investments Co. grew its position in shares of WSFS Financial by 58.4% in the fourth quarter. Sei Investments Co. now owns 56,359 shares of the bank's stock valued at $2,994,000 after purchasing an additional 20,784 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of WSFS Financial in the fourth quarter worth about $18,167,000. AlphaQuest LLC acquired a new position in shares of WSFS Financial during the 4th quarter worth about $84,000. Finally, Norges Bank bought a new stake in WSFS Financial during the 4th quarter valued at approximately $32,775,000. Institutional investors own 88.49% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on WSFS. Stephens reiterated an "overweight" rating and set a $64.00 price target on shares of WSFS Financial in a report on Monday, April 28th. Keefe, Bruyette & Woods cut their target price on shares of WSFS Financial from $66.00 to $64.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $62.75.

Insider Buying and Selling

In related news, CEO Rodger Levenson sold 7,199 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $55.20, for a total transaction of $397,384.80. Following the completion of the transaction, the chief executive officer now owns 142,780 shares in the company, valued at $7,881,456. This trade represents a 4.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company's stock.

WSFS Financial Trading Up 2.6 %

WSFS Financial stock opened at $53.30 on Friday. The business has a 50 day moving average price of $50.66 and a two-hundred day moving average price of $53.63. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. WSFS Financial Co. has a 12 month low of $42.21 and a 12 month high of $62.75. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 12.06 and a beta of 0.90.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $1.13 EPS for the quarter, topping the consensus estimate of $1.04 by $0.09. The firm had revenue of $256.11 million during the quarter, compared to analysts' expectations of $235.44 million. WSFS Financial had a return on equity of 10.30% and a net margin of 18.77%. WSFS Financial's quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the business earned $1.11 earnings per share. As a group, equities analysts forecast that WSFS Financial Co. will post 4.47 EPS for the current year.

WSFS Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be paid a $0.17 dividend. The ex-dividend date is Friday, May 9th. This represents a $0.68 dividend on an annualized basis and a yield of 1.28%. This is a boost from WSFS Financial's previous quarterly dividend of $0.15. WSFS Financial's payout ratio is presently 15.28%.

About WSFS Financial

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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