Alps Advisors Inc. cut its position in Webster Financial Co. (NYSE:WBS) by 5.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,905 shares of the financial services provider’s stock after selling 364 shares during the quarter. Alps Advisors Inc.’s holdings in Webster Financial were worth $330,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Hilton Capital Management LLC acquired a new position in Webster Financial during the 1st quarter worth approximately $54,000. Harvest Group Wealth Management LLC acquired a new position in Webster Financial in the 1st quarter valued at approximately $58,000. Advisory Services Network LLC boosted its stake in shares of Webster Financial by 10.1% in the 1st quarter. Advisory Services Network LLC now owns 2,988 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 275 shares during the last quarter. Cetera Advisor Networks LLC bought a new stake in shares of Webster Financial in the 1st quarter valued at $200,000. Finally, Menta Capital LLC bought a new stake in shares of Webster Financial in the 2nd quarter valued at $202,000. Institutional investors own 88.52% of the company’s stock.
Shares of WBS stock opened at $48.11 on Friday. Webster Financial Co. has a one year low of $42.62 and a one year high of $63.85. The firm has a 50-day moving average of $46.78 and a 200-day moving average of $49.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $4.50 billion, a P/E ratio of 12.86, a P/E/G ratio of 1.49 and a beta of 1.29.
Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. The business had revenue of $317.60 million during the quarter, compared to the consensus estimate of $312.36 million. Webster Financial had a net margin of 27.99% and a return on equity of 13.80%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.86 earnings per share. As a group, research analysts expect that Webster Financial Co. will post 4.11 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 5th were given a dividend of $0.40 per share. The ex-dividend date was Friday, August 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.33%. Webster Financial’s dividend payout ratio is presently 42.78%.
WBS has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Webster Financial from a “sell” rating to a “hold” rating and set a $49.00 price objective on the stock in a research note on Friday, July 5th. Morgan Stanley raised shares of Webster Financial from an “underweight” rating to an “equal weight” rating and set a $51.00 target price on the stock in a research note on Monday, July 1st. Finally, Boenning Scattergood reissued a “neutral” rating on shares of Webster Financial in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Webster Financial currently has an average rating of “Hold” and an average price target of $56.25.
In other Webster Financial news, EVP Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $51.45, for a total transaction of $102,900.00. Following the transaction, the executive vice president now directly owns 18,654 shares of the company’s stock, valued at $959,748.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Joseph Crawford sold 1,000 shares of Webster Financial stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $49.49, for a total transaction of $49,490.00. Following the transaction, the director now directly owns 16,099 shares in the company, valued at $796,739.51. The disclosure for this sale can be found here. Insiders have sold 4,000 shares of company stock valued at $203,670 in the last quarter. Company insiders own 1.53% of the company’s stock.
Webster Financial Profile
Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.
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