PNC Financial Services Group Inc. Has $1.19 Million Holdings in WSFS Financial Co. (NASDAQ:WSFS)

PNC Financial Services Group Inc. cut its stake in WSFS Financial Co. (NASDAQ:WSFS) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,468 shares of the bank’s stock after selling 469 shares during the period. PNC Financial Services Group Inc.’s holdings in WSFS Financial were worth $1,194,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Inceptionr LLC acquired a new position in shares of WSFS Financial during the 4th quarter worth about $765,000. Raymond James Financial Inc. acquired a new position in shares of WSFS Financial during the 4th quarter worth about $18,167,000. Charles Schwab Investment Management Inc. boosted its stake in shares of WSFS Financial by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 740,584 shares of the bank’s stock worth $39,347,000 after buying an additional 19,650 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of WSFS Financial by 32.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,304 shares of the bank’s stock worth $176,000 after buying an additional 804 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of WSFS Financial by 21.4% during the 4th quarter. Fisher Asset Management LLC now owns 267,028 shares of the bank’s stock worth $14,187,000 after buying an additional 47,028 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WSFS has been the subject of a number of recent research reports. Stephens restated an “overweight” rating and set a $68.00 price objective on shares of WSFS Financial in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods upped their target price on shares of WSFS Financial from $64.00 to $68.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $64.75.

WSFS Financial Stock Up 2.7 %

Shares of WSFS stock opened at $52.00 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.83. The firm’s 50-day moving average is $54.24 and its 200-day moving average is $53.96. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 11.76 and a beta of 1.06. WSFS Financial Co. has a 52-week low of $41.13 and a 52-week high of $62.75.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings results on Monday, January 27th. The bank reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.13. WSFS Financial had a net margin of 18.77% and a return on equity of 10.30%. Sell-side analysts predict that WSFS Financial Co. will post 4.47 EPS for the current year.

WSFS Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a $0.15 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.60 annualized dividend and a yield of 1.15%. WSFS Financial’s dividend payout ratio is currently 13.57%.

Insider Buying and Selling at WSFS Financial

In other WSFS Financial news, CEO Rodger Levenson sold 7,199 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $55.20, for a total value of $397,384.80. Following the transaction, the chief executive officer now directly owns 142,780 shares of the company’s stock, valued at $7,881,456. This represents a 4.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.29% of the company’s stock.

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.