Whittier Trust Co. Cuts Position in Webster Financial Corporation $WBS

Whittier Trust Co. trimmed its position in shares of Webster Financial Corporation (NYSE:WBS) by 97.7% during the first quarter, Holdings Channel reports. The firm owned 4,857 shares of the financial services provider’s stock after selling 210,172 shares during the quarter. Whittier Trust Co.’s holdings in Webster Financial were worth $341,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of WBS. BOKF NA acquired a new stake in Webster Financial during the 3rd quarter worth approximately $26,000. Flagship Harbor Advisors LLC purchased a new position in Webster Financial in the fourth quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Webster Financial in the 3rd quarter valued at $29,000. New England Capital Financial Advisors LLC grew its position in shares of Webster Financial by 246.8% in the 1st quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock valued at $30,000 after buying an additional 311 shares during the last quarter. Finally, Atlas Capital Advisors Inc. acquired a new stake in Webster Financial during the 4th quarter worth $31,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Price Performance

Webster Financial stock opened at $75.50 on Thursday. Webster Financial Corporation has a 12 month low of $52.69 and a 12 month high of $77.69. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.87. The business has a 50 day simple moving average of $73.65 and a 200-day simple moving average of $70.40. The stock has a market capitalization of $12.23 billion, a PE ratio of 12.36 and a beta of 1.00.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.04. The company had revenue of $764.05 million for the quarter, compared to analysts’ expectations of $735.26 million. Webster Financial had a net margin of 22.95% and a return on equity of 11.31%. Webster Financial’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.30 EPS. Equities analysts predict that Webster Financial Corporation will post 6.59 earnings per share for the current year.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. Webster Financial’s payout ratio is presently 26.19%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WBS shares. Weiss Ratings reissued a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. UBS Group initiated coverage on Webster Financial in a research report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 target price on the stock. Finally, Keefe, Bruyette & Woods decreased their target price on Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $73.96.

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.