Alps Advisors Inc. lowered its holdings in Webster Financial Co. (NYSE:WBS) by 3.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,269 shares of the financial services provider’s stock after selling 266 shares during the quarter. Alps Advisors Inc.’s holdings in Webster Financial were worth $368,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. HAP Trading LLC acquired a new stake in shares of Webster Financial during the 4th quarter worth approximately $876,000. Thrivent Financial for Lutherans grew its holdings in shares of Webster Financial by 5.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 23,421 shares of the financial services provider’s stock worth $1,154,000 after purchasing an additional 1,207 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Webster Financial by 5.6% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 26,372 shares of the financial services provider’s stock worth $1,300,000 after purchasing an additional 1,404 shares in the last quarter. Roubaix Capital LLC acquired a new stake in shares of Webster Financial during the 1st quarter worth approximately $1,227,000. Finally, Segall Bryant & Hamill LLC grew its holdings in shares of Webster Financial by 3.6% during the 4th quarter. Segall Bryant & Hamill LLC now owns 7,285 shares of the financial services provider’s stock worth $359,000 after purchasing an additional 253 shares in the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.
Webster Financial stock opened at $49.07 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.52. The company has a market cap of $4.52 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.47 and a beta of 1.18. Webster Financial Co. has a one year low of $45.38 and a one year high of $69.63.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 6th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Friday, May 3rd. This is an increase from Webster Financial’s previous quarterly dividend of $0.33. Webster Financial’s dividend payout ratio (DPR) is 42.78%.
In other Webster Financial news, Director John Joseph Crawford sold 600 shares of Webster Financial stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $53.60, for a total value of $32,160.00. Following the completion of the transaction, the director now owns 17,099 shares in the company, valued at approximately $916,506.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Daniel Bley sold 4,000 shares of Webster Financial stock in a transaction on Friday, April 26th. The shares were sold at an average price of $52.39, for a total value of $209,560.00. Following the completion of the transaction, the executive vice president now owns 20,654 shares of the company’s stock, valued at approximately $1,082,063.06. The disclosure for this sale can be found here. Insiders have sold a total of 6,100 shares of company stock valued at $321,865 in the last 90 days. 1.53% of the stock is owned by corporate insiders.
Several brokerages have recently weighed in on WBS. ValuEngine lowered Webster Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Boenning Scattergood reissued a “hold” rating on shares of Webster Financial in a report on Monday, April 22nd. Barclays decreased their price objective on Webster Financial from $68.00 to $62.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. Zacks Investment Research lowered Webster Financial from a “buy” rating to a “hold” rating in a report on Tuesday, April 2nd. Finally, Compass Point initiated coverage on Webster Financial in a research report on Tuesday, May 7th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $62.40.
Webster Financial Company 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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