WSFS Financial Corporation (NASDAQ:WSFS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 5.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 216,108 shares of the bank’s stock after selling 11,818 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in WSFS Financial were worth $11,210,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WSFS shares. Stephens reaffirmed an “overweight” rating and issued a $64.00 price target on shares of WSFS Financial in a research report on Monday, April 28th. Keefe, Bruyette & Woods cut their price target on shares of WSFS Financial from $66.00 to $64.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. Finally, Wall Street Zen cut shares of WSFS Financial from a “hold” rating to a “sell” rating in a research note on Friday, May 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.75.

WSFS Financial Stock Performance

WSFS stock opened at $59.05 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.83 and a quick ratio of 0.83. The company has a 50 day moving average price of $53.51 and a 200 day moving average price of $52.96. WSFS Financial Corporation has a fifty-two week low of $42.44 and a fifty-two week high of $62.75. The stock has a market capitalization of $3.35 billion, a PE ratio of 13.27 and a beta of 0.87.

WSFS Financial (NASDAQ:WSFS) last released its earnings results on Thursday, April 24th. The bank reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. WSFS Financial had a net margin of 18.86% and a return on equity of 10.06%. The firm had revenue of $256.11 million during the quarter, compared to analyst estimates of $235.44 million. During the same quarter in the previous year, the business earned $1.11 EPS. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. Analysts forecast that WSFS Financial Corporation will post 4.47 EPS for the current year.

WSFS Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a $0.17 dividend. This is a positive change from WSFS Financial’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, May 9th. This represents a $0.68 annualized dividend and a dividend yield of 1.15%. WSFS Financial’s payout ratio is 15.28%.

WSFS Financial 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.