PNC Financial Services Group Inc. Decreases Stock Position in WSFS Financial Co. (NASDAQ:WSFS)

PNC Financial Services Group Inc. reduced its position in WSFS Financial Co. (NASDAQ:WSFS) by 7.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,936 shares of the bank’s stock after selling 2,205 shares during the quarter. PNC Financial Services Group Inc.’s holdings in WSFS Financial were worth $1,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of WSFS. Norges Bank purchased a new stake in WSFS Financial in the fourth quarter worth $31,369,000. Franklin Resources Inc. increased its position in WSFS Financial by 8.8% in the fourth quarter. Franklin Resources Inc. now owns 2,886,034 shares of the bank’s stock worth $132,556,000 after buying an additional 232,508 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in WSFS Financial by 7,791.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 166,426 shares of the bank’s stock worth $7,644,000 after buying an additional 164,317 shares during the last quarter. Assenagon Asset Management S.A. increased its position in WSFS Financial by 169.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 205,025 shares of the bank’s stock worth $9,417,000 after buying an additional 128,834 shares during the last quarter. Finally, American Century Companies Inc. increased its position in WSFS Financial by 44.2% in the third quarter. American Century Companies Inc. now owns 352,093 shares of the bank’s stock worth $12,851,000 after buying an additional 107,879 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at WSFS Financial

In other WSFS Financial news, EVP Stephen P. Clark sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $46.61, for a total transaction of $139,830.00. Following the transaction, the executive vice president now owns 25,671 shares in the company, valued at approximately $1,196,525.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.29% of the stock is currently owned by corporate insiders.

WSFS Financial Trading Down 1.2 %

Shares of WSFS stock opened at $44.27 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $44.29 and a two-hundred day moving average price of $43.97. WSFS Financial Co. has a 12-month low of $33.12 and a 12-month high of $47.97. The firm has a market cap of $2.66 billion, a P/E ratio of 9.88 and a beta of 1.01.

WSFS Financial (NASDAQ:WSFS) last released its earnings results on Thursday, April 25th. The bank reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.04. WSFS Financial had a return on equity of 11.94% and a net margin of 20.73%. The company had revenue of $251.10 million during the quarter, compared to analyst estimates of $247.57 million. During the same quarter in the previous year, the company posted $1.02 EPS. WSFS Financial’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities analysts anticipate that WSFS Financial Co. will post 4.27 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Thursday, May 9th. WSFS Financial’s payout ratio is 13.39%.

Analysts Set New Price Targets

Separately, Piper Sandler lifted their price target on WSFS Financial from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, May 22nd.

WSFS Financial Company 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.