Jennison Associates LLC lowered its holdings in shares of WSFS Financial Co. (NASDAQ:WSFS - Free Report) by 27.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pathstone Holdings LLC increased its stake in WSFS Financial by 6.1% in the third quarter. Pathstone Holdings LLC now owns 32,648 shares of the bank's stock valued at $1,665,000 after acquiring an additional 1,884 shares during the period. LMR Partners LLP acquired a new stake in WSFS Financial during the third quarter valued at approximately $237,000. Mill Creek Capital Advisors LLC bought a new stake in shares of WSFS Financial in the 3rd quarter valued at approximately $718,000. Royce & Associates LP grew its stake in shares of WSFS Financial by 247.4% in the 3rd quarter. Royce & Associates LP now owns 78,168 shares of the bank's stock valued at $3,986,000 after purchasing an additional 55,668 shares during the period. Finally, CIBC Asset Management Inc acquired a new position in shares of WSFS Financial in the 3rd quarter worth approximately $202,000. Institutional investors own 88.49% of the company's stock.
Shares of NASDAQ WSFS opened at $60.48 on Friday. WSFS Financial Co. has a 1-year low of $37.09 and a 1-year high of $60.60. The company has a 50-day moving average of $52.25 and a two-hundred day moving average of $50.02. The company has a market cap of $3.56 billion, a PE ratio of 13.81 and a beta of 1.02. 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 (NASDAQ:WSFS - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.02. The firm had revenue of $267.61 million for the quarter, compared to the consensus estimate of $260.35 million. WSFS Financial had a return on equity of 10.56% and a net margin of 18.78%. The business's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.23 EPS. As a group, equities analysts expect that WSFS Financial Co. will post 4.27 earnings per share for the current fiscal year.
The company also recently disclosed 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 yield of 0.99%. WSFS Financial's payout ratio is 13.70%.
WSFS has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $54.00 price target (down from $58.00) on shares of WSFS Financial in a research report on Tuesday, October 29th. Piper Sandler upped their target price on shares of WSFS Financial from $48.00 to $55.00 and gave the stock a "neutral" rating in a report on Tuesday, July 30th. Janney Montgomery Scott reissued a "neutral" rating on shares of WSFS Financial in a report on Monday, October 28th. Stephens upped their price objective on shares of WSFS Financial from $54.00 to $62.00 and gave the stock an "overweight" rating in a research note on Monday, July 29th. Finally, DA Davidson lifted their target price on shares of WSFS Financial from $59.00 to $68.00 and gave the company a "buy" rating in a research note on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $59.75.
Check Out Our Latest Stock Report on WSFS
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.
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