Allspring Global Investments Holdings LLC Trims Stake in WSFS Financial Corporation $WSFS

Key Points

• Allspring Global Investments reduced its WSFS Financial stake by 24.9% in the first quarter, selling 44,471 shares and leaving it with 133,933 shares worth about $8.84 million.
• WSFS Financial remains heavily held by institutions, with 88.49% of shares owned by institutional investors and hedge funds. Several other firms also increased or initiated positions during recent quarters.
• Analyst views are mixed but generally positive: the stock has a Moderate Buy consensus with a $77.07 price target, while CEO Rodger Levenson recently sold 65,446 shares in a transaction valued at about $4.85 million.

Allspring Global Investments Holdings LLC lessened its position in shares of WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 24.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 133,933 shares of the bank's stock after selling 44,471 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.26% of WSFS Financial worth $8,844,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Tudor Investment Corp ET AL purchased a new stake in shares of WSFS Financial during the third quarter worth $1,153,000. Denali Advisors LLC acquired a new stake in shares of WSFS Financial in the fourth quarter valued at approximately $2,425,000. Hsbc Holdings PLC acquired a new stake in shares of WSFS Financial in the 4th quarter worth $1,050,000. SG Americas Securities LLC raised its holdings in shares of WSFS Financial by 338.6% during the 4th quarter. SG Americas Securities LLC now owns 30,594 shares of the bank's stock worth $1,690,000 after acquiring an additional 23,618 shares during the period. Finally, UBS Group AG boosted its position in shares of WSFS Financial by 31.3% during the 4th quarter. UBS Group AG now owns 214,753 shares of the bank's stock valued at $11,863,000 after acquiring an additional 51,234 shares during the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Zacks Research lowered shares of WSFS Financial from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. TD Cowen reissued a "buy" rating and set a $82.00 target price (up from $77.00) on shares of WSFS Financial in a research note on Wednesday, April 29th. Piper Sandler restated a "neutral" rating and issued a $80.00 target price (up from $72.00) on shares of WSFS Financial in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of WSFS Financial in a research note on Friday, June 12th. Finally, Stephens reiterated an "overweight" rating and set a $81.00 price target (up from $79.00) on shares of WSFS Financial in a research report on Monday, April 27th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.07.

Insider Buying and Selling at WSFS Financial

In related news, CEO Rodger Levenson sold 65,446 shares of the business's 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 completion of the transaction, the chief executive officer directly owned 186,088 shares of the company's stock, valued at $13,790,981.68. The trade was a 26.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.10% of the company's stock.

WSFS Financial Price Performance

WSFS Financial stock opened at $78.86 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. WSFS Financial Corporation has a 52-week low of $49.92 and a 52-week high of $80.73. The firm has a market cap of $4.10 billion, a PE ratio of 14.03 and a beta of 0.76. The company's 50 day moving average is $74.70 and its two-hundred day moving average is $68.51.

WSFS Financial 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.

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