Jennison Associates LLC Sells 132,559 Shares of WSFS Financial Co. (NASDAQ:WSFS)

Jennison Associates LLC lowered its holdings in shares of WSFS Financial Co. (NASDAQ:WSFS - Free Report) by 27.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 359,212 shares of the bank's stock after selling 132,559 shares during the period. Jennison Associates LLC owned about 0.61% of WSFS Financial worth $18,316,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WSFS. Vanguard Group Inc. increased its stake in WSFS Financial by 5.3% in the first quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank's stock valued at $331,246,000 after purchasing an additional 372,402 shares in the last quarter. Bessemer Group Inc. boosted its holdings in WSFS Financial by 16.5% in the 1st quarter. Bessemer Group Inc. now owns 17,354 shares of the bank's stock worth $784,000 after buying an additional 2,460 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of WSFS Financial by 5.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 53,103 shares of the bank's stock valued at $2,393,000 after purchasing an additional 2,708 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of WSFS Financial by 35.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 201,985 shares of the bank's stock valued at $9,119,000 after buying an additional 53,292 shares during the period. Finally, GAMMA Investing LLC increased its holdings in WSFS Financial by 40.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,023 shares of the bank's stock worth $48,000 after acquiring an additional 295 shares during the period. Institutional investors and hedge funds own 88.49% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on WSFS. Janney Montgomery Scott reaffirmed a "neutral" rating on shares of WSFS Financial in a report on Monday, October 28th. Stephens upped their price target on shares of WSFS Financial from $54.00 to $62.00 and gave the company an "overweight" rating in a report on Monday, July 29th. Piper Sandler lifted their price target on shares of WSFS Financial from $48.00 to $55.00 and gave the company a "neutral" rating in a report on Tuesday, July 30th. DA Davidson boosted their price objective on shares of WSFS Financial from $59.00 to $68.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and set a $54.00 price objective (down from $58.00) on shares of WSFS Financial in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $59.75.

WSFS Financial Stock Performance

Shares of NASDAQ:WSFS traded up $1.77 during midday trading on Friday, hitting $60.48. The company had a trading volume of 255,564 shares, compared to its average volume of 301,854. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. The company has a fifty day moving average of $52.42 and a two-hundred day moving average of $50.12. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 13.81 and a beta of 1.02. WSFS Financial Co. has a 12-month low of $37.09 and a 12-month high of $60.60.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last released 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. The firm had revenue of $267.61 million during the quarter, compared to analyst estimates of $260.35 million. WSFS Financial had a return on equity of 10.56% and a net margin of 18.78%. The business's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.23 earnings per share. On average, equities research analysts expect that WSFS Financial Co. will post 4.27 EPS for the current fiscal year.

WSFS Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.99%. WSFS Financial's dividend payout ratio is currently 13.70%.

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.