Profund Advisors LLC decreased its holdings in shares of Webster Financial Co. (NYSE:WBS) by 52.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,034 shares of the financial services provider’s stock after selling 6,616 shares during the period. Profund Advisors LLC’s holdings in Webster Financial were worth $329,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in WBS. JTC Employer Solutions Trustee Ltd acquired a new position in Webster Financial during the third quarter worth $27,000. NN Investment Partners Holdings N.V. acquired a new position in Webster Financial during the third quarter worth $38,000. Massmutual Trust Co. FSB ADV acquired a new position in Webster Financial during the second quarter worth $97,000. Dark Forest Capital Management LP acquired a new position in Webster Financial during the second quarter worth $105,000. Finally, Toronto Dominion Bank raised its holdings in Webster Financial by 28.3% during the third quarter. Toronto Dominion Bank now owns 2,186 shares of the financial services provider’s stock worth $119,000 after buying an additional 482 shares during the last quarter. Hedge funds and other institutional investors own 95.07% of the company’s stock.
NYSE WBS opened at $61.22 on Monday. Webster Financial Co. has a 52-week low of $45.60 and a 52-week high of $65.00. The stock’s 50-day moving average is $58.43. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a market capitalization of $5.55 billion, a P/E ratio of 13.88 and a beta of 1.42.
Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Thursday, January 20th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.23. Webster Financial had a net margin of 32.29% and a return on equity of 13.94%. The business had revenue of $316.90 million during the quarter, compared to the consensus estimate of $306.87 million. During the same quarter last year, the company posted $0.99 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, research analysts predict that Webster Financial Co. will post 5.19 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 11th. Shareholders of record on Friday, January 28th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, January 27th. This represents a $1.60 dividend on an annualized basis and a yield of 2.61%. Webster Financial’s dividend payout ratio is presently 36.28%.
Several analysts have recently commented on the stock. Piper Sandler upgraded shares of Webster Financial from a “neutral” rating to an “overweight” rating and increased their target price for the company from $58.00 to $72.00 in a report on Wednesday, February 2nd. Royal Bank of Canada increased their target price on shares of Webster Financial from $63.00 to $68.00 and gave the company an “outperform” rating in a report on Friday, October 22nd. Raymond James upgraded shares of Webster Financial from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $65.00 to $73.00 in a report on Friday, January 21st. Finally, Wells Fargo & Company lowered their target price on shares of Webster Financial from $60.00 to $57.00 and set an “equal weight” rating for the company in a report on Tuesday, January 4th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $64.71.
About Webster Financial
Webster Financial Corp., is 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 Community Banking. The Commercial Banking segment includes commercial banking and private banking.
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