NewEdge Advisors LLC Trims Holdings in Webster Financial Corporation $WBS

NewEdge Advisors LLC lowered its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 69.1% during the 1st quarter, HoldingsChannel reports. The fund owned 4,513 shares of the financial services provider’s stock after selling 10,087 shares during the period. NewEdge Advisors LLC’s holdings in Webster Financial were worth $313,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in WBS. Carlson Capital L.P. purchased a new stake in shares of Webster Financial in the 1st quarter worth approximately $2,707,000. Groupama Asset Managment grew its stake in shares of Webster Financial by 4.9% in the first quarter. Groupama Asset Managment now owns 148,438 shares of the financial services provider’s stock worth $10,305,000 after acquiring an additional 6,880 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Webster Financial by 67.6% during the first quarter. Bank of America Corp DE now owns 3,727,744 shares of the financial services provider’s stock valued at $258,780,000 after acquiring an additional 1,504,075 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Webster Financial by 45.5% in the 1st quarter. Janus Henderson Group PLC now owns 106,800 shares of the financial services provider’s stock worth $7,419,000 after purchasing an additional 33,400 shares during the last quarter. Finally, Amundi increased its stake in Webster Financial by 282.5% during the 1st quarter. Amundi now owns 339,328 shares of the financial services provider’s stock valued at $23,556,000 after purchasing an additional 250,604 shares in the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Webster Financial from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. Keefe, Bruyette & Woods lowered their price objective on Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Finally, Royal Bank Of Canada increased their target price on Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 22nd. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $74.25.

Webster Financial Price Performance

Shares of WBS opened at $77.57 on Tuesday. The firm has a fifty day simple moving average of $76.89 and a two-hundred day simple moving average of $73.33. The firm has a market cap of $12.57 billion, a PE ratio of 12.61 and a beta of 1.01. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.46. Webster Financial Corporation has a 1-year low of $52.69 and a 1-year high of $79.74.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.The firm had revenue of $769.23 million during the quarter, compared to analysts’ expectations of $755.80 million. During the same quarter last year, the business earned $1.52 earnings per share. The business’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities analysts anticipate that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Monday, August 10th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. Webster Financial’s dividend payout ratio is presently 26.02%.

Webster Financial Company Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.