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Brinker Capital Investments LLC boosted its position in Webster Financial Co. (NYSE:WBS – Get Rating) by 31.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,860 shares of the financial services provider’s stock after purchasing an additional 5,035 shares during the period. Brinker Capital Investments LLC’s holdings in Webster Financial were worth $943,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC boosted its position in Webster Financial by 1.7% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 16,987 shares of the financial services provider’s stock worth $716,000 after purchasing an additional 276 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Webster Financial by 1.1% in the second quarter. State of Alaska Department of Revenue now owns 25,577 shares of the financial services provider’s stock worth $1,078,000 after purchasing an additional 280 shares during the last quarter. Blair William & Co. IL boosted its position in Webster Financial by 7.6% in the first quarter. Blair William & Co. IL now owns 4,298 shares of the financial services provider’s stock worth $241,000 after purchasing an additional 303 shares during the last quarter. First Foundation Advisors boosted its position in Webster Financial by 0.4% in the second quarter. First Foundation Advisors now owns 75,344 shares of the financial services provider’s stock worth $3,176,000 after purchasing an additional 308 shares during the last quarter. Finally, Assetmark Inc. boosted its position in Webster Financial by 20.5% in the third quarter. Assetmark Inc. now owns 1,912 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 325 shares during the last quarter. 85.86% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
WBS has been the topic of several recent research reports. Piper Sandler decreased their price objective on Webster Financial to $55.00 in a research note on Wednesday, October 5th. JPMorgan Chase & Co. decreased their price objective on Webster Financial from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 13th. Morgan Stanley initiated coverage on Webster Financial in a research note on Monday, December 5th. They issued an “overweight” rating and a $70.00 price objective on the stock. Raymond James initiated coverage on Webster Financial in a research note on Friday, November 4th. They issued an “outperform” rating and a $60.00 price objective on the stock. Finally, StockNews.com downgraded Webster Financial from a “hold” rating to a “sell” rating in a research note on Monday, January 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Webster Financial has an average rating of “Hold” and an average price target of $59.63.
Webster Financial Stock Up 3.1 %
Shares of WBS opened at $46.53 on Monday. The business’s 50 day moving average is $48.75 and its 200 day moving average is $48.18. The company has a market capitalization of $8.10 billion, a PE ratio of 13.81 and a beta of 1.26. Webster Financial Co. has a 12-month low of $40.72 and a 12-month high of $63.23. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61.
Webster Financial (NYSE:WBS – Get Rating) last released its quarterly earnings results on Thursday, October 20th. The financial services provider reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.06. The business had revenue of $664.60 million during the quarter, compared to analysts’ expectations of $640.62 million. Webster Financial had a return on equity of 12.09% and a net margin of 23.15%. The firm’s revenue for the quarter was up 112.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 EPS. Research analysts expect that Webster Financial Co. will post 5.68 earnings per share for the current fiscal year.
Webster Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Friday, November 4th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.44%. The ex-dividend date was Thursday, November 3rd. Webster Financial’s dividend payout ratio is presently 47.48%.
Webster Financial Profile
(Get Rating)
Webster Financial Corp. is a holding company, which engages in the provision of financial services to individuals, families, and businesses. It operates through the following business segments: Commercial Banking, HSA Bank, and Retail Banking. The Commercial Banking segment includes commercial banking and private banking.
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