Trust Investment Advisors Trims Stock Position in Webster Financial Corporation $WBS

Trust Investment Advisors cut its holdings in Webster Financial Corporation (NYSE:WBS) by 4.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,910 shares of the financial services provider’s stock after selling 1,131 shares during the period. Trust Investment Advisors’ holdings in Webster Financial were worth $1,415,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Leeward Investments LLC MA lifted its stake in shares of Webster Financial by 54.3% in the 2nd quarter. Leeward Investments LLC MA now owns 214,241 shares of the financial services provider’s stock valued at $11,698,000 after purchasing an additional 75,356 shares during the last quarter. Brighton Jones LLC acquired a new stake in shares of Webster Financial during the 2nd quarter worth about $330,000. Focus Partners Advisor Solutions LLC raised its holdings in Webster Financial by 68.6% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 6,758 shares of the financial services provider’s stock valued at $369,000 after buying an additional 2,750 shares during the period. AlphaQuest LLC lifted its position in Webster Financial by 9.8% in the second quarter. AlphaQuest LLC now owns 64,241 shares of the financial services provider’s stock valued at $3,508,000 after buying an additional 5,736 shares during the last quarter. Finally, Ethic Inc. boosted its stake in Webster Financial by 24.4% during the second quarter. Ethic Inc. now owns 6,931 shares of the financial services provider’s stock worth $380,000 after buying an additional 1,361 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.

Insider Buying and Selling at Webster Financial

In related news, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $57.95, for a total value of $463,600.00. Following the sale, the chief executive officer owned 239,872 shares of the company’s stock, valued at $13,900,582.40. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Mi Griffin sold 807 shares of Webster Financial stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $62.14, for a total transaction of $50,146.98. Following the completion of the transaction, the insider owned 12,556 shares of the company’s stock, valued at $780,229.84. This represents a 6.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,807 shares of company stock valued at $698,527 in the last quarter. Corporate insiders own 0.54% of the company’s stock.

Webster Financial Price Performance

Webster Financial stock opened at $57.12 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. Webster Financial Corporation has a 52-week low of $39.43 and a 52-week high of $63.99. The firm has a market cap of $9.49 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 0.50 and a beta of 1.05. The company’s 50 day moving average is $59.64 and its two-hundred day moving average is $55.56.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Friday, October 17th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.02. The business had revenue of $732.60 million for the quarter, compared to analyst estimates of $725.22 million. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.During the same quarter in the prior year, the company earned $1.34 earnings per share. On average, research analysts expect that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Monday, August 11th were issued a dividend of $0.40 per share. The ex-dividend date was Monday, August 11th. This represents a $1.60 annualized dividend and a yield of 2.8%. Webster Financial’s dividend payout ratio is 29.80%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WBS. Seaport Res Ptn cut shares of Webster Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 25th. Cantor Fitzgerald initiated 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. Weiss Ratings lowered Webster Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Keefe, Bruyette & Woods upped their price target on Webster Financial from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday, July 18th. Finally, Truist Financial lowered their price target on Webster Financial from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Monday, October 20th. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.69.

Webster Financial Profile

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.