Webster Financial Co. (NYSE:WBS) Stock Position Trimmed by Webster Bank N. A.

Webster Bank N. A. cut its holdings in shares of Webster Financial Co. (NYSE:WBS) by 4.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,214 shares of the financial services provider’s stock after selling 1,426 shares during the period. Webster Bank N. A.’s holdings in Webster Financial were worth $1,065,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Neo Ivy Capital Management bought a new stake in shares of Webster Financial during the second quarter valued at about $32,000. AllSquare Wealth Management LLC bought a new stake in shares of Webster Financial during the 1st quarter worth about $35,000. Harbour Investments Inc. boosted its holdings in shares of Webster Financial by 305.8% in the first quarter. Harbour Investments Inc. now owns 905 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 682 shares in the last quarter. Quarry LP increased its stake in shares of Webster Financial by 209.8% during the first quarter. Quarry LP now owns 1,227 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 831 shares during the period. Finally, Covestor Ltd raised its holdings in Webster Financial by 113.9% during the first quarter. Covestor Ltd now owns 1,074 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 572 shares in the last quarter. Institutional investors and hedge funds own 86.37% of the company’s stock.

Webster Financial Stock Down 1.8 %

Shares of Webster Financial stock traded down $0.73 during midday trading on Tuesday, hitting $40.15. The company’s stock had a trading volume of 593,065 shares, compared to its average volume of 1,260,461. Webster Financial Co. has a 1-year low of $31.03 and a 1-year high of $56.46. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $6.96 billion, a P/E ratio of 7.78 and a beta of 1.28. The stock has a 50-day simple moving average of $43.40 and a 200-day simple moving average of $40.00.

Webster Financial (NYSE:WBS) last released its earnings results on Thursday, July 20th. The financial services provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.03. The company had revenue of $673.20 million for the quarter, compared to analysts’ expectations of $690.83 million. Webster Financial had a return on equity of 13.68% and a net margin of 26.69%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.29 EPS. As a group, sell-side analysts expect that Webster Financial Co. will post 5.91 earnings per share for the current year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 16th. Investors of record on Wednesday, August 2nd were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, August 1st. This represents a $1.60 annualized dividend and a dividend yield of 3.99%. Webster Financial’s dividend payout ratio is 30.48%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WBS. StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a research note on Monday. Royal Bank of Canada boosted their price target on shares of Webster Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Friday, July 21st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Webster Financial in a research report on Thursday, May 25th. They set a “buy” rating and a $47.00 price objective for the company. JPMorgan Chase & Co. increased their target price on shares of Webster Financial from $42.00 to $46.00 in a research note on Thursday, June 29th. Finally, Piper Sandler lifted their price target on shares of Webster Financial from $50.00 to $53.00 in a research report on Tuesday, August 8th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $51.20.

Webster Financial Profile

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking. The Commercial Banking segment provides commercial real estate and equipment financing, business banking, asset-based lending, and commercial services; public sector finance; mortgage warehouse financing; treasury management services; credit, deposit, and cash flow management services; and wealth management solutions to business owners and operators, including trust, asset management, financial planning, insurance, retirement, and investment products, as well as derivative, treasury, accounts payable, accounts receivable, and trade products and services.