Whittier Trust Co. of Nevada Inc. Cuts Stock Position in Webster Financial Corporation $WBS

Whittier Trust Co. of Nevada Inc. decreased its holdings in Webster Financial Corporation (NYSE:WBS) by 98.1% in the first quarter, Holdings Channel reports. The fund owned 2,254 shares of the financial services provider’s stock after selling 113,471 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Webster Financial were worth $158,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Grove Bank & Trust increased its stake in Webster Financial by 18.7% during the 4th quarter. Grove Bank & Trust now owns 1,005 shares of the financial services provider’s stock worth $63,000 after buying an additional 158 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Webster Financial by 39.7% in the 4th quarter. Farther Finance Advisors LLC now owns 560 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 159 shares in the last quarter. Curi Capital LLC boosted its position in shares of Webster Financial by 0.3% in the 2nd quarter. Curi Capital LLC now owns 68,500 shares of the financial services provider’s stock worth $3,740,000 after buying an additional 182 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake in Webster Financial by 27.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 839 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 183 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Webster Financial by 37.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 674 shares of the financial services provider’s stock worth $42,000 after buying an additional 185 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WBS has been the topic of a number of research reports. Keefe, Bruyette & Woods cut their target price on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a research note on Friday, May 1st. UBS Group assumed coverage on Webster Financial in a research report on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 target price for the company. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $73.96.

Webster Financial Stock Performance

Shares of NYSE WBS opened at $75.50 on Thursday. The stock’s fifty day simple moving average is $73.65 and its 200 day simple moving average is $70.40. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $12.23 billion, a price-to-earnings ratio of 12.36 and a beta of 1.00. Webster Financial Corporation has a 52-week low of $52.69 and a 52-week high of $77.69.

Webster Financial (NYSE:WBS) last announced its earnings results on Tuesday, April 28th. The financial services provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.53 by $0.04. Webster Financial had a net margin of 22.95% and a return on equity of 11.31%. The company had revenue of $764.05 million during the quarter, compared to analysts’ expectations of $735.26 million. During the same period last year, the company posted $1.30 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, sell-side analysts forecast that Webster Financial Corporation will post 6.59 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were issued a $0.40 dividend. The ex-dividend date was Monday, May 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. Webster Financial’s dividend payout ratio is currently 26.19%.

About Webster Financial

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.