AlphaQuest LLC Has $3.51 Million Stock Holdings in Webster Financial Corporation $WBS

Key Points

• AlphaQuest LLC increased its ownership in Webster Financial Corporation by 9.8% during the 2nd quarter, holding a total of 64,241 shares valued at approximately $3.51 million.
• The majority of Webster Financial's stock, about 85.58%, is owned by institutional investors, with recent significant stake increases from firms such as Mitsubishi UFJ Asset Management and TCTC Holdings.
• Analysts maintain a consensus rating of "Moderate Buy" for Webster Financial, with a notable price target increase from Morgan Stanley, raising it from $64.00 to $77.00.

AlphaQuest LLC raised its stake in Webster Financial Corporation (NYSE:WBS - Free Report) by 9.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,241 shares of the financial services provider's stock after acquiring an additional 5,736 shares during the period. Webster Financial makes up about 0.3% of AlphaQuest LLC's portfolio, making the stock its 15th biggest holding. AlphaQuest LLC's holdings in Webster Financial were worth $3,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new position in Webster Financial in the 1st quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Webster Financial by 327.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 739 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 566 shares in the last quarter. TCTC Holdings LLC raised its holdings in Webster Financial by 118.4% in the 1st quarter. TCTC Holdings LLC now owns 832 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 451 shares in the last quarter. IFP Advisors Inc raised its holdings in Webster Financial by 3,628.6% in the 2nd quarter. IFP Advisors Inc now owns 783 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 762 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in Webster Financial by 43.7% in the 1st quarter. Allworth Financial LP now owns 941 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 286 shares in the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WBS has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Webster Financial in a report on Wednesday, October 8th. Raymond James Financial reaffirmed an "outperform" rating and issued a $65.00 target price (down previously from $68.00) on shares of Webster Financial in a report on Monday. Cowen assumed coverage on Webster Financial in a research report on Wednesday, September 24th. They issued a "buy" rating on the stock. Morgan Stanley upped their price target on Webster Financial from $64.00 to $77.00 and gave the company an "underperform" rating in a research report on Monday, September 29th. Finally, Truist Financial reduced their price target on Webster Financial from $69.00 to $67.00 and set a "buy" rating on the stock in a research report on Monday. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $69.69.

Insiders Place Their Bets

In related news, Director William L. Atwell sold 16,823 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $59.20, for a total transaction of $995,921.60. Following the sale, the director owned 30,915 shares in the company, valued at $1,830,168. This represents a 35.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Elzbieta Cieslik sold 2,000 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $61.58, for a total value of $123,160.00. Following the sale, the chief accounting officer owned 14,894 shares in the company, valued at approximately $917,172.52. The trade was a 11.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,630 shares of company stock worth $1,694,449 in the last quarter. 0.54% of the stock is currently owned by company insiders.

Webster Financial Trading Up 1.8%

NYSE WBS opened at $56.80 on Friday. Webster Financial Corporation has a 12 month low of $39.43 and a 12 month high of $63.99. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.42. The business's 50-day moving average price is $59.69 and its two-hundred day moving average price is $55.23. The firm has a market capitalization of $9.44 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 0.50 and a beta of 1.05.

Webster Financial (NYSE:WBS - Get Free Report) last announced its earnings results on Friday, October 17th. The financial services provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.52 by $0.02. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.The company had revenue of $732.60 million for the quarter, compared to analyst estimates of $725.22 million. During the same quarter in the prior year, the company earned $1.34 EPS. On average, analysts expect that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial Announces Dividend

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

Webster Financial Company 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.

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