Y Intercept Hong Kong Ltd lowered its stake in Webster Financial Co. (NYSE:WBS – Free Report) by 23.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,042 shares of the financial services provider’s stock after selling 3,729 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Webster Financial were worth $475,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of WBS. Vanguard Group Inc. raised its holdings in shares of Webster Financial by 0.7% in the third quarter. Vanguard Group Inc. now owns 17,679,692 shares of the financial services provider’s stock worth $799,122,000 after acquiring an additional 116,092 shares during the last quarter. Capital International Investors grew its stake in Webster Financial by 18.2% during the 1st quarter. Capital International Investors now owns 9,297,676 shares of the financial services provider’s stock valued at $521,886,000 after purchasing an additional 1,433,204 shares in the last quarter. State Street Corp grew its stake in Webster Financial by 68.8% during the 1st quarter. State Street Corp now owns 7,511,290 shares of the financial services provider’s stock valued at $421,534,000 after purchasing an additional 3,061,831 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Webster Financial by 7.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,157,045 shares of the financial services provider’s stock worth $291,474,000 after acquiring an additional 403,762 shares in the last quarter. Finally, Macquarie Group Ltd. grew its position in shares of Webster Financial by 0.6% in the 2nd quarter. Macquarie Group Ltd. now owns 4,993,191 shares of the financial services provider’s stock worth $210,466,000 after acquiring an additional 31,603 shares in the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WBS has been the subject of a number of research reports. Piper Sandler increased their target price on Webster Financial from $50.00 to $53.00 in a report on Tuesday, August 8th. JPMorgan Chase & Co. lifted their price target on shares of Webster Financial from $42.00 to $46.00 in a research report on Thursday, June 29th. Morgan Stanley reiterated an “overweight” rating and issued a $43.00 price target on shares of Webster Financial in a research report on Tuesday, July 25th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Webster Financial in a research note on Thursday, May 25th. They issued a “buy” rating and a $47.00 price objective on the stock. Finally, Wells Fargo & Company decreased their target price on shares of Webster Financial from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Friday, April 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.20.

View Our Latest Analysis on WBS

Webster Financial Trading Down 2.9 %

Shares of WBS stock opened at $42.82 on Wednesday. The company has a 50 day moving average of $41.67 and a 200-day moving average of $42.03. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.67. Webster Financial Co. has a 12-month low of $31.03 and a 12-month high of $56.46. The firm has a market cap of $7.42 billion, a P/E ratio of 8.16 and a beta of 1.27.

Webster Financial (NYSE:WBS – Get Free Report) last released its quarterly earnings data on Thursday, July 20th. The financial services provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.03. Webster Financial had a net margin of 26.69% and a return on equity of 13.68%. The business had revenue of $673.20 million during the quarter, compared to analyst estimates of $690.83 million. During the same period in the previous year, the business earned $1.29 EPS. Webster Financial’s revenue was up 10.8% compared to the same quarter last year. Sell-side analysts anticipate that Webster Financial Co. will post 5.88 earnings per share for the current year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 16th. Investors of record on Wednesday, August 2nd will be paid a $0.40 dividend. The ex-dividend date is Tuesday, August 1st. This represents a $1.60 dividend on an annualized basis and a yield of 3.74%. Webster Financial’s dividend payout ratio is 30.48%.

Insider Activity at Webster Financial

In related news, COO Luis Massiani sold 16,000 shares of Webster Financial stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $37.27, for a total value of $596,320.00. Following the completion of the transaction, the chief operating officer now directly owns 115,153 shares in the company, valued at approximately $4,291,752.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is owned by company insiders.

Webster Financial Profile

(Free Report)

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.

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