Vanguard Group Holds 9.0% Stake in WSFS Financial Corp

TL;DR

**Vanguard still owns 9.0% of WSFS Financial Corp, a solid institutional vote of confidence.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership in WSFS Financial Corp. As of December 29, 2023, Vanguard beneficially owned 5,667,290 shares of WSFS Financial Corp's Common Stock, representing 9.0% of the company. This is an update to their previous filing, indicating a slight adjustment in their passive investment stake. For investors, this shows that a significant institutional holder like Vanguard maintains a substantial, albeit passive, position in WSFS, which can be a signal of long-term confidence in the company's stability.

Why It Matters

This filing confirms Vanguard's continued significant, passive investment in WSFS Financial Corp, signaling institutional confidence in the company's long-term prospects. It's important for investors to know who the major shareholders are, as large institutional holdings can influence stock stability.

Risk Assessment

Risk Level: low — This filing is a routine update from a passive institutional investor and does not indicate any immediate risks or changes in company control.

Analyst Insight

Investors should note that a large, passive institutional investor like Vanguard maintains a substantial position, which can be a sign of long-term stability, but this filing itself doesn't suggest immediate action.

Key Numbers

• 5,667,290 — Shares Beneficially Owned (Represents the total number of Common Stock shares of WSFS Financial Corp held by The Vanguard Group as of December 29, 2023.)
• 9.0% — Percentage of Class (Indicates The Vanguard Group's significant ownership stake in WSFS Financial Corp, making them a major institutional shareholder.)

Key Players & Entities

• The Vanguard Group (company) — the reporting person and beneficial owner of shares
• WSFS Financial Corp (company) — the issuer of the securities
• 5,667,290 shares (dollar_amount) — the total number of shares beneficially owned by Vanguard
• 9.0% (dollar_amount) — the percentage of the class of securities owned by Vanguard
• December 29, 2023 (date) — the date of the event requiring the filing
• February 13, 2024 (date) — the filing date of the SC 13G/A amendment

Forward-Looking Statements

• Vanguard will maintain a significant, passive stake in WSFS Financial Corp. (The Vanguard Group) — high confidence, target: December 29, 2024

FAQ

Filing Documents

• tv02306-wsfsfinancialcorp.htm (SC 13G/A) — 11KB
• 0001104659-24-022330.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: WSFS Financial Corp

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: WSFS Bank Center, 500 Delaware Avenue Wilmington, DE 19801

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 929328102

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR