Vident Advisory LLC Acquires New 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 position in Webster Financial Corporation (NYSE:WBS - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,273 shares of the financial services provider's stock, valued at approximately $220,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Picton Mahoney Asset Management acquired a new stake in shares of Webster Financial during the 1st quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Webster Financial by 327.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 739 shares of the financial services provider's stock worth $38,000 after acquiring an additional 566 shares during the period. TCTC Holdings LLC raised its holdings in shares of Webster Financial by 118.4% during the 1st quarter. TCTC Holdings LLC now owns 832 shares of the financial services provider's stock worth $43,000 after acquiring an additional 451 shares during the period. Allworth Financial LP raised its holdings in shares of 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 acquiring an additional 286 shares during the period. Finally, Versant Capital Management Inc increased its position in shares of Webster Financial by 171.2% during the 1st 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 last quarter. Institutional investors and hedge funds own 85.58% of the company's stock.

Insider Activity at Webster Financial

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $57.95, for a total transaction of $463,600.00. Following the sale, the chief executive officer directly owned 239,872 shares in the company, valued at $13,900,582.40. The trade was a 3.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason A. Soto sold 2,500 shares of Webster Financial stock in a transaction that occurred on Monday, July 21st. The stock was 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 of the company's stock, valued at approximately $1,156,195.69. The trade was a 11.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,445 shares of company stock worth $1,983,757 over the last ninety days. Company insiders own 0.54% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on WBS shares. Cantor Fitzgerald initiated coverage on Webster Financial in a research report on Wednesday. They set an "overweight" rating and a $70.00 price objective for the company. JPMorgan Chase & Co. upped their price target on Webster Financial from $55.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. UBS Group reissued a "buy" rating and issued a $69.00 price objective on shares of Webster Financial in a report on Wednesday, July 9th. Barclays upped their price target on Webster Financial from $72.00 to $77.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Finally, Citigroup increased their price objective on Webster Financial from $65.00 to $71.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Webster Financial currently has an average rating of "Moderate Buy" and an average price target of $67.00.

Webster Financial Stock Up 0.6%

Shares of NYSE:WBS opened at $61.59 on Thursday. The firm has a market cap of $10.24 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 0.56 and a beta of 1.07. 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 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.47. The stock's 50-day moving average price is $59.43 and its two-hundred day moving average price is $53.58.

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

Webster Financial Announces Dividend

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

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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