Tompkins Financial Corp Sells 9,436 Shares of Webster Financial Corporation $WBS

Key Points

• Tompkins Financial Corp reduced its stake in Webster Financial Corporation by 9.0% during the second quarter, selling 9,436 shares and leaving it with approximately 95,539 shares valued at around $5.2 million.
• Webster Financial recently reported earnings of $1.52 per share for the last quarter, exceeding estimates and marking a 16.5% increase in revenue year-over-year.
• Analysts generally have a positive outlook on Webster Financial, with a consensus price target of $67.00 and most ratings being either "Buy" or "Outperform".

Tompkins Financial Corp decreased its holdings in shares of Webster Financial Corporation (NYSE:WBS - Free Report) by 9.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 95,539 shares of the financial services provider's stock after selling 9,436 shares during the period. Tompkins Financial Corp owned about 0.06% of Webster Financial worth $5,216,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new position in shares of Webster Financial during the first quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Webster Financial by 327.2% during the first 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 during the period. TCTC Holdings LLC boosted its holdings in shares of Webster Financial by 118.4% during the first 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 during the period. Allworth Financial LP lifted its holdings in Webster Financial by 43.7% in the first quarter. Allworth Financial LP now owns 941 shares of the financial services provider's stock worth $45,000 after purchasing an additional 286 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in Webster Financial by 171.2% in the first quarter. Versant Capital Management Inc now owns 1,025 shares of the financial services provider's stock worth $53,000 after purchasing an additional 647 shares during the period. Institutional investors own 85.58% of the company's stock.

Insider Buying and Selling

In other news, insider James Mi Griffin sold 2,065 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $60.56, for a total value of $125,056.40. Following the transaction, the insider owned 13,363 shares in the company, valued at $809,263.28. This represents a 13.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jason A. Soto sold 2,500 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $61.21, for a total value of $153,025.00. Following the completion of the transaction, the insider owned 18,889 shares in the company, valued at $1,156,195.69. This represents a 11.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,445 shares of company stock worth $2,168,537 over the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. UBS Group reaffirmed a "buy" rating and issued a $69.00 price objective on shares of Webster Financial in a report on Wednesday, July 9th. Wells Fargo & Company upped their price objective on shares of Webster Financial from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Truist Financial reaffirmed a "buy" rating and issued a $67.00 price objective (up previously from $61.00) on shares of Webster Financial in a report on Friday, July 11th. Citigroup upped their price objective on shares of Webster Financial from $65.00 to $71.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Webster Financial from $65.00 to $68.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $67.00.

Webster Financial Trading Down 1.4%

NYSE WBS traded down $0.86 on Monday, hitting $60.68. 1,226,620 shares of the company were exchanged, compared to its average volume of 1,346,285. The company's 50 day moving average price is $59.76 and its 200-day moving average price is $53.96. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market capitalization of $10.09 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 0.56 and a beta of 1.07. Webster Financial Corporation has a twelve month low of $39.43 and a twelve month high of $63.99.

Webster Financial (NYSE:WBS - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.09. The firm had revenue of $715.80 million for the quarter, compared to the consensus estimate of $716.59 million. Webster Financial had a return on equity of 10.84% and a net margin of 20.06%.The business's revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.26 EPS. Analysts predict that Webster Financial Corporation will post 5.88 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Monday, August 11th were issued a $0.40 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.6%. Webster Financial's dividend payout ratio is currently 32.45%.

About Webster Financial

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.