Allspring Global Investments Holdings LLC Cuts Stock Position in WSFS Financial Corporation (NASDAQ:WSFS)

Allspring Global Investments Holdings LLC cut its stake in shares of WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 5.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 216,108 shares of the bank's stock after selling 11,818 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.37% of WSFS Financial worth $11,210,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in WSFS Financial by 309.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,687,824 shares of the bank's stock valued at $89,674,000 after buying an additional 1,276,078 shares during the period. Norges Bank purchased a new stake in WSFS Financial in the fourth quarter worth $32,775,000. Raymond James Financial Inc. purchased a new stake in WSFS Financial in the fourth quarter worth $18,167,000. Great Lakes Advisors LLC increased its stake in WSFS Financial by 179.8% in the fourth quarter. Great Lakes Advisors LLC now owns 169,563 shares of the bank's stock worth $9,009,000 after purchasing an additional 108,968 shares during the period. Finally, GAMMA Investing LLC increased its stake in WSFS Financial by 7,004.2% in the first quarter. GAMMA Investing LLC now owns 105,711 shares of the bank's stock worth $5,483,000 after purchasing an additional 104,223 shares during the period. 88.49% of the stock is currently owned by institutional investors.

WSFS Financial Trading Down 1.5%

NASDAQ WSFS traded down $0.90 on Monday, reaching $58.17. 293,123 shares of the company were exchanged, compared to its average volume of 313,673. The business's fifty day moving average price is $53.78 and its 200 day moving average price is $53.02. The stock has a market capitalization of $3.30 billion, a P/E ratio of 13.07 and a beta of 0.87. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.12. WSFS Financial Corporation has a fifty-two week low of $42.44 and a fifty-two week high of $62.75.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last posted its earnings results on Thursday, April 24th. The bank reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.09. WSFS Financial had a return on equity of 10.06% and a net margin of 18.86%. The company had revenue of $256.11 million for the quarter, compared to the consensus estimate of $235.44 million. During the same quarter in the previous year, the business earned $1.11 earnings per share. The company's revenue for the quarter was up 1.7% on a year-over-year basis. Analysts forecast that WSFS Financial Corporation will post 4.47 earnings per share for the current year.

WSFS Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Friday, May 9th. This is an increase from WSFS Financial's previous quarterly dividend of $0.15. WSFS Financial's payout ratio is currently 15.28%.

Wall Street Analyst Weigh In

WSFS has been the topic of a number of recent analyst reports. Stephens reiterated an "overweight" rating and issued a $64.00 target price on shares of WSFS Financial in a research note on Monday, April 28th. Keefe, Bruyette & Woods dropped their price target on WSFS Financial from $66.00 to $64.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Finally, Wall Street Zen downgraded WSFS Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, WSFS Financial presently has an average rating of "Hold" and an average price target of $62.75.

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.