NewEdge Advisors LLC Sells 10,087 Shares of Webster Financial Corporation $WBS

NewEdge Advisors LLC decreased its position in shares of Webster Financial Corporation (NYSE:WBS) by 69.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,513 shares of the financial services provider’s stock after selling 10,087 shares during the quarter. NewEdge Advisors LLC’s holdings in Webster Financial were worth $313,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. BOKF NA purchased a new position in Webster Financial during the 3rd quarter valued at about $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Webster Financial during the 3rd quarter valued at about $29,000. New England Capital Financial Advisors LLC grew its holdings in shares of Webster Financial by 246.8% during the first quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 311 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new position in shares of Webster Financial during the fourth quarter worth about $31,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Webster Financial in the third quarter worth approximately $33,000. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Barclays increased their price target on shares of Webster Financial from $75.00 to $78.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods cut their target price on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research report on Friday, May 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Finally, Royal Bank Of Canada raised their price objective on Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 22nd. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Webster Financial has a consensus rating of “Hold” and an average price target of $74.25.

Webster Financial Stock Performance

NYSE:WBS opened at $77.57 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.46. The firm’s fifty day simple moving average is $76.89 and its 200 day simple moving average is $73.33. The stock has a market cap of $12.57 billion, a P/E ratio of 12.61 and a beta of 1.01. Webster Financial Corporation has a twelve month low of $52.69 and a twelve month high of $79.74.

Webster Financial (NYSE:WBS) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $1.60 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.01). The company had revenue of $769.23 million during the quarter, compared to analysts’ expectations of $755.80 million. Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.52 earnings per share. As a group, research analysts predict that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Monday, August 10th were issued a $0.40 dividend. The ex-dividend date was Monday, August 10th. This represents a $1.60 annualized dividend and a yield of 2.1%. Webster Financial’s dividend payout ratio (DPR) is 26.02%.

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.