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

Principal Financial Group Inc. trimmed its position in shares of WSFS Financial Co. (NASDAQ:WSFS) by 6.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 306,339 shares of the bank’s stock after selling 22,251 shares during the quarter. Principal Financial Group Inc.’s holdings in WSFS Financial were worth $15,620,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Mill Creek Capital Advisors LLC purchased a new position in shares of WSFS Financial during the third quarter worth approximately $718,000. Jane Street Group LLC boosted its stake in shares of WSFS Financial by 47.9% in the 3rd quarter. Jane Street Group LLC now owns 114,154 shares of the bank’s stock valued at $5,821,000 after purchasing an additional 36,990 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of WSFS Financial by 30.6% during the 3rd quarter. Victory Capital Management Inc. now owns 36,773 shares of the bank’s stock valued at $1,875,000 after purchasing an additional 8,617 shares during the last quarter. Barclays PLC grew its holdings in shares of WSFS Financial by 110.8% during the 3rd quarter. Barclays PLC now owns 120,397 shares of the bank’s stock valued at $6,139,000 after purchasing an additional 63,284 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in WSFS Financial by 265.1% in the 2nd quarter. Squarepoint Ops LLC now owns 23,763 shares of the bank’s stock worth $1,117,000 after purchasing an additional 17,254 shares during the period. Institutional investors own 88.49% of the company’s stock.

WSFS Financial Stock Performance

Shares of WSFS stock opened at $53.39 on Friday. The company’s fifty day moving average price is $55.73 and its 200-day moving average price is $52.25. The stock has a market cap of $3.14 billion, a PE ratio of 12.19 and a beta of 1.06. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. WSFS Financial Co. has a 12 month low of $40.19 and a 12 month high of $62.75.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. WSFS Financial had a net margin of 18.78% and a return on equity of 10.56%. The business had revenue of $267.61 million for the quarter, compared to analysts’ expectations of $260.35 million. During the same quarter in the prior year, the company earned $1.23 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. On average, equities analysts expect that WSFS Financial Co. will post 4.27 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, November 8th. WSFS Financial’s payout ratio is 13.70%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WSFS shares. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of WSFS Financial in a research note on Monday, October 28th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $54.00 price target (down from $58.00) on shares of WSFS Financial in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $59.75.

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.