Webster Financial Corporation $WBS Shares Bought by UMB Bank n.a.

UMB Bank n.a. lifted its holdings in Webster Financial Corporation (NYSE:WBS) by 22.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,824 shares of the financial services provider’s stock after purchasing an additional 333 shares during the period. UMB Bank n.a.’s holdings in Webster Financial were worth $100,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. PenderFund Capital Management Ltd. lifted its position in shares of Webster Financial by 4.0% during the 1st quarter. PenderFund Capital Management Ltd. now owns 5,578 shares of the financial services provider’s stock valued at $288,000 after acquiring an additional 215 shares during the last quarter. Penbrook Management LLC raised its position in shares of Webster Financial by 5.2% during the first quarter. Penbrook Management LLC now owns 5,080 shares of the financial services provider’s stock worth $262,000 after purchasing an additional 250 shares during the period. Beverly Hills Private Wealth LLC lifted its holdings in shares of Webster Financial by 4.5% during the first quarter. Beverly Hills Private Wealth LLC now owns 6,058 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 262 shares during the last quarter. Allworth Financial LP boosted its position in shares of Webster Financial by 43.7% in the 1st quarter. Allworth Financial LP now owns 941 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 286 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in Webster Financial by 26.1% during the 1st quarter. First Horizon Advisors Inc. now owns 1,486 shares of the financial services provider’s stock worth $77,000 after buying an additional 308 shares during the period. 85.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on WBS shares. Cantor Fitzgerald began coverage on shares of Webster Financial in a report on Wednesday, September 10th. They issued an “overweight” rating and a $70.00 target price for the company. Truist Financial reiterated a “buy” rating and set a $67.00 price objective (up from $61.00) on shares of Webster Financial in a research report on Friday, July 11th. Raymond James Financial increased their target price on Webster Financial from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Friday, July 18th. Seaport Res Ptn downgraded Webster Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Finally, Keefe, Bruyette & Woods increased their price objective on Webster Financial from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday, July 18th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Webster Financial Price Performance

WBS opened at $60.12 on Thursday. The stock has a fifty day moving average price of $59.85 and a 200 day moving average price of $54.04. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.47. Webster Financial Corporation has a 1 year low of $39.43 and a 1 year high of $63.99. The stock has a market cap of $9.99 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 0.56 and a beta of 1.07.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.09. The company had revenue of $715.80 million during the quarter, compared to the consensus estimate of $716.59 million. Webster Financial had a return on equity of 10.84% and a net margin of 20.06%.The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the business earned $1.26 EPS. Analysts forecast that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Monday, August 11th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, August 11th. Webster Financial’s payout ratio is currently 32.45%.

Insider Buying and Selling at Webster Financial

In related news, CAO Albert Jen-Wen Wang sold 3,250 shares of Webster Financial stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $60.31, for a total value of $196,007.50. Following the completion of the sale, the chief accounting officer owned 15,755 shares of the company’s stock, valued at approximately $950,184.05. The trade was a 17.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Mi Griffin sold 2,065 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $60.56, for a total transaction of $125,056.40. Following the transaction, the insider directly owned 13,363 shares in the company, valued at $809,263.28. The trade was a 13.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,445 shares of company stock worth $2,168,537 in the last ninety days. Company insiders own 0.54% of the company’s stock.

About Webster Financial

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.