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

Jennison Associates LLC reduced its stake in WSFS Financial Co. (NASDAQ:WSFS) by 27.0% during the 3rd quarter, Holdings Channel reports. The firm owned 359,212 shares of the bank’s stock after selling 132,559 shares during the period. Jennison Associates LLC’s holdings in WSFS Financial were worth $18,316,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of WSFS Financial by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock worth $331,246,000 after buying an additional 372,402 shares during the period. Dimensional Fund Advisors LP boosted its stake in WSFS Financial by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,903,255 shares of the bank’s stock worth $183,450,000 after acquiring an additional 110,279 shares during the last quarter. American Century Companies Inc. grew its holdings in WSFS Financial by 27.9% during the second quarter. American Century Companies Inc. now owns 877,467 shares of the bank’s stock valued at $41,241,000 after purchasing an additional 191,566 shares during the period. abrdn plc increased its stake in WSFS Financial by 1.0% in the third quarter. abrdn plc now owns 620,808 shares of the bank’s stock valued at $31,655,000 after purchasing an additional 6,380 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in WSFS Financial by 35.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 201,985 shares of the bank’s stock worth $9,119,000 after purchasing an additional 53,292 shares during the period. 88.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Stephens boosted 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. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $54.00 price target (down from $58.00) on shares of WSFS Financial in a report on Tuesday, October 29th. DA Davidson boosted their price objective on WSFS Financial from $59.00 to $68.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Janney Montgomery Scott reissued a “neutral” rating on shares of WSFS Financial in a research note on Monday, October 28th. Finally, 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 research note on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, WSFS Financial has an average rating of “Hold” and a consensus price target of $59.75.

WSFS Financial Stock Up 3.0 %

Shares of WSFS Financial stock opened at $60.48 on Friday. WSFS Financial Co. has a 52-week low of $37.09 and a 52-week high of $60.60. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 0.86. The business’s 50 day simple moving average is $52.25 and its 200 day simple moving average is $50.02. The firm has a market cap of $3.56 billion, a PE ratio of 13.81 and a beta of 1.02.

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

WSFS Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.15 per share. 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 13.70%.

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.