Jennison Associates LLC Decreases Stock Holdings in WSFS Financial Co. (NASDAQ:WSFS)

Jennison Associates LLC decreased its holdings in WSFS Financial Co. (NASDAQ:WSFS) by 8.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 533,060 shares of the bank’s stock after selling 51,330 shares during the quarter. Jennison Associates LLC’s holdings in WSFS Financial were worth $24,483,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of WSFS. International Assets Investment Management LLC increased its position in shares of WSFS Financial by 1,032.9% during the 4th quarter. International Assets Investment Management LLC now owns 827 shares of the bank’s stock valued at $38,000 after purchasing an additional 754 shares during the last quarter. Covestor Ltd increased its position in shares of WSFS Financial by 77.7% during the 3rd quarter. Covestor Ltd now owns 1,180 shares of the bank’s stock valued at $43,000 after purchasing an additional 516 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of WSFS Financial during the 3rd quarter valued at about $66,000. Affinity Wealth Management LLC purchased a new stake in shares of WSFS Financial during the 4th quarter valued at about $211,000. Finally, Mutual Advisors LLC purchased a new stake in shares of WSFS Financial during the 4th quarter valued at about $233,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

WSFS Financial Price Performance

NASDAQ WSFS opened at $45.08 on Thursday. WSFS Financial Co. has a 52 week low of $29.59 and a 52 week high of $47.97. The firm has a market capitalization of $2.71 billion, a P/E ratio of 10.25 and a beta of 1.03. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $43.01 and a 200-day moving average price of $41.86.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings results on Friday, January 26th. The bank reported $1.15 EPS for the quarter, beating the consensus estimate of $1.08 by $0.07. WSFS Financial had a net margin of 21.25% and a return on equity of 11.96%. The firm had revenue of $265.33 million during the quarter, compared to analyst estimates of $247.56 million. During the same quarter in the prior year, the firm earned $1.38 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts anticipate that WSFS Financial Co. will post 4.19 earnings per share for the current year.

Insider Activity at WSFS Financial

In related news, EVP Arthur J. Bacci sold 15,992 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $46.79, for a total transaction of $748,265.68. Following the completion of the transaction, the executive vice president now directly owns 20,990 shares in the company, valued at approximately $982,122.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.29% of the stock is currently owned by corporate insiders.

WSFS Financial Company 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.