Vident Advisory LLC Takes Position in Webster Financial Corporation $WBS

Key Points

• Vident Advisory LLC acquired 4,273 shares of Webster Financial Corporation, valued at approximately $220,000, during the 1st quarter, indicating growing institutional interest in the financial services provider.
• Webster Financial recently announced a quarterly dividend of $0.40 per share, reflecting an annualized yield of 2.6% and a payout ratio of 32.45% for shareholders.
• Analyst reports indicate a strong outlook for Webster Financial, with multiple firms issuing overweight ratings and price targets up to $77.00, suggesting confidence in the company's growth potential.

Vident Advisory LLC purchased a new stake in shares of Webster Financial Corporation (NYSE:WBS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 4,273 shares of the financial services provider's stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also recently modified their holdings of WBS. Bessemer Group Inc. raised its position in shares of Webster Financial by 166.1% in the first quarter. Bessemer Group Inc. now owns 1,027 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 641 shares during the period. GAMMA Investing LLC grew its position in shares of Webster Financial by 48.3% in the first quarter. GAMMA Investing LLC now owns 3,032 shares of the financial services provider's stock valued at $156,000 after purchasing an additional 987 shares during the last quarter. LPL Financial LLC increased its stake in shares of Webster Financial by 9.9% during the first quarter. LPL Financial LLC now owns 77,103 shares of the financial services provider's stock worth $3,975,000 after purchasing an additional 6,948 shares during the period. Allworth Financial LP lifted its holdings in Webster Financial by 43.7% during the 1st 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 last quarter. Finally, First Foundation Advisors boosted its stake in Webster Financial by 9.4% in the 1st quarter. First Foundation Advisors now owns 11,003 shares of the financial services provider's stock valued at $567,000 after purchasing an additional 950 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Webster Financial Price Performance

Shares of Webster Financial stock traded down $1.17 during trading on Tuesday, reaching $59.45. 2,530,942 shares of the company's stock were exchanged, compared to its average volume of 1,115,974. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.85 and a current ratio of 0.86. Webster Financial Corporation has a 1-year low of $39.43 and a 1-year high of $63.99. The company has a market cap of $9.88 billion, a P/E ratio of 12.06, a PEG ratio of 0.56 and a beta of 1.07. The firm's 50-day moving average price is $59.60 and its 200 day moving average price is $53.70.

Webster Financial (NYSE:WBS - Get Free Report) last released its earnings results on Thursday, July 17th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.09. The firm had revenue of $715.80 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.26 earnings per share. As a group, research analysts anticipate that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Monday, August 11th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Monday, August 11th. Webster Financial's dividend payout ratio is presently 32.45%.

Insider Transactions at Webster Financial

In other news, Director William L. Atwell sold 16,823 shares of Webster Financial stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $59.20, for a total value of $995,921.60. Following the completion of the transaction, the director directly owned 30,915 shares of the company's stock, valued at approximately $1,830,168. This trade represents a 35.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John R. Ciulla sold 8,000 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $57.95, for a total value of $463,600.00. Following the completion of the transaction, the chief executive officer directly owned 239,872 shares in the company, valued at approximately $13,900,582.40. This trade represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,445 shares of company stock valued at $2,168,537. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods increased their price objective on Webster Financial from $65.00 to $68.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Barclays raised their price target on shares of Webster Financial from $72.00 to $77.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Wells Fargo & Company boosted their price objective on shares of Webster Financial from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Friday, July 18th. UBS Group reaffirmed a "buy" rating and set a $69.00 target price on shares of Webster Financial in a report on Wednesday, July 9th. Finally, Truist Financial reiterated a "buy" rating and issued a $67.00 price target (up from $61.00) on shares of Webster Financial in a research note on Friday, July 11th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $67.00.

Webster Financial 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.