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Jennison Associates LLC trimmed its position in shares of WSFS Financial Co. (NASDAQ:WSFS – Get Rating) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 645,334 shares of the bank’s stock after selling 16,674 shares during the period. Jennison Associates LLC owned 1.02% of WSFS Financial worth $29,982,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. McClarren Financial Advisors Inc. bought a new stake in WSFS Financial in the 3rd quarter valued at $117,000. New York State Teachers Retirement System increased its holdings in WSFS Financial by 4.2% in the 3rd quarter. New York State Teachers Retirement System now owns 30,040 shares of the bank’s stock valued at $1,396,000 after acquiring an additional 1,200 shares during the last quarter. Keybank National Association OH purchased a new position in shares of WSFS Financial in the 3rd quarter worth $257,000. Strs Ohio grew its stake in shares of WSFS Financial by 100.0% in the 3rd quarter. Strs Ohio now owns 3,600 shares of the bank’s stock worth $167,000 after buying an additional 1,800 shares in the last quarter. Finally, Raymond James & Associates grew its stake in shares of WSFS Financial by 2.8% in the 3rd quarter. Raymond James & Associates now owns 112,747 shares of the bank’s stock worth $5,238,000 after buying an additional 3,072 shares in the last quarter. 88.10% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, EVP Patrick Joseph Ward sold 1,305 shares of WSFS Financial stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $46.38, for a total transaction of $60,525.90. Following the completion of the sale, the executive vice president now owns 140,881 shares in the company, valued at approximately $6,534,060.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Rodger Levenson sold 7,945 shares of WSFS Financial stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $48.24, for a total transaction of $383,266.80. Following the completion of the sale, the chief executive officer now owns 130,369 shares in the company, valued at approximately $6,289,000.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Patrick Joseph Ward sold 1,305 shares of WSFS Financial stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $46.38, for a total transaction of $60,525.90. Following the sale, the executive vice president now owns 140,881 shares of the company’s stock, valued at approximately $6,534,060.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,638 shares of company stock valued at $927,562. Company insiders own 1.73% of the company’s stock.
WSFS Financial Price Performance
WSFS stock opened at $48.69 on Tuesday. WSFS Financial Co. has a 12 month low of $37.03 and a 12 month high of $56.30. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average price of $46.73 and a 200 day moving average price of $46.81. The stock has a market cap of $3.00 billion, a PE ratio of 14.58 and a beta of 1.02.
WSFS Financial (NASDAQ:WSFS – Get Rating) last released its quarterly earnings results on Monday, October 24th. The bank reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.03). WSFS Financial had a return on equity of 10.64% and a net margin of 22.99%. The firm had revenue of $176.80 million for the quarter, compared to analysts’ expectations of $175.59 million. During the same period in the prior year, the firm posted $1.19 earnings per share. WSFS Financial’s revenue for the quarter was up 69.2% on a year-over-year basis. Equities research analysts anticipate that WSFS Financial Co. will post 4.27 earnings per share for the current year.
WSFS Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Friday, November 4th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, November 3rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.23%. WSFS Financial’s dividend payout ratio is presently 17.96%.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on WSFS shares. StockNews.com started coverage on shares of WSFS Financial in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Janney Montgomery Scott started coverage on shares of WSFS Financial in a research note on Wednesday, November 30th. They issued a “buy” rating and a $57.00 price objective for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $54.75.
About WSFS Financial
(Get Rating)
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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