WSFS Financial Corporation $WSFS Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its holdings in WSFS Financial Corporation (NASDAQ:WSFS) by 24.9% during the first quarter, HoldingsChannel reports. The fund owned 133,933 shares of the bank’s stock after selling 44,471 shares during the period. Allspring Global Investments Holdings LLC’s holdings in WSFS Financial were worth $8,844,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in WSFS. Sanctuary Advisors LLC purchased a new stake in WSFS Financial in the first quarter valued at $213,000. Hillsdale Investment Management Inc. purchased a new stake in WSFS Financial during the 1st quarter valued at approximately $302,000. Principal Financial Group Inc. raised its stake in WSFS Financial by 64.0% during the 1st quarter. Principal Financial Group Inc. now owns 427,481 shares of the bank’s stock valued at $27,983,000 after acquiring an additional 166,837 shares during the last quarter. Fifth Third Bancorp lifted its position in WSFS Financial by 11,821.6% during the 1st quarter. Fifth Third Bancorp now owns 28,731 shares of the bank’s stock worth $1,881,000 after acquiring an additional 28,490 shares during the period. Finally, Hsbc Holdings PLC lifted its position in WSFS Financial by 21.8% during the 1st quarter. Hsbc Holdings PLC now owns 23,138 shares of the bank’s stock worth $1,511,000 after acquiring an additional 4,145 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on WSFS. Zacks Research downgraded WSFS Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Piper Sandler reiterated a “neutral” rating and set a $80.00 price target (up from $72.00) on shares of WSFS Financial in a research note on Wednesday, May 6th. Weiss Ratings reissued a “buy (b)” rating on shares of WSFS Financial in a report on Friday, June 12th. TD Cowen restated a “buy” rating and issued a $82.00 price objective (up from $77.00) on shares of WSFS Financial in a research report on Wednesday, April 29th. Finally, UBS Group set a $76.00 price objective on WSFS Financial in a report on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, WSFS Financial has a consensus rating of “Moderate Buy” and a consensus price target of $77.07.

WSFS Financial Trading Down 0.8%

Shares of WSFS stock opened at $78.86 on Thursday. The business has a fifty day simple moving average of $74.70 and a 200-day simple moving average of $68.51. The stock has a market cap of $4.10 billion, a P/E ratio of 14.03 and a beta of 0.76. WSFS Financial Corporation has a fifty-two week low of $49.92 and a fifty-two week high of $80.73. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.11.

Insider Activity

In related news, CEO Rodger Levenson sold 65,446 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $74.11, for a total transaction of $4,850,203.06. Following the sale, the chief executive officer owned 186,088 shares of the company’s stock, valued at $13,790,981.68. This trade represents a 26.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by corporate insiders.

WSFS Financial Company Profile

WSFS Financial Corporation is the bank holding company for WSFS Bank, a regional financial institution headquartered in Wilmington, Delaware. The company traces its roots to the Safe Deposit & Trust Company, founded in 1832, and formally organized as WSFS Financial in the mid-1980s. Over its long history, WSFS has grown through a combination of organic expansion and selective acquisitions to serve a broad base of individual, commercial and institutional clients.

WSFS Bank offers a full suite of banking and financial services, including retail and commercial deposit accounts, commercial and industrial lending, real estate financing, and treasury management solutions.