Wealth Enhancement Advisory Services LLC Has $2.02 Million Stock Holdings in Webster Financial Corporation $WBS

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Webster Financial Corporation by 122.1%, holding 34,462 shares valued at approximately $2.02 million.
• Webster Financial reported earnings per share of $1.52, surpassing analysts' expectations and showing a 16.5% increase in revenue compared to last year.
• The company declared a quarterly dividend of $0.40, resulting in an annualized yield of 2.7%, with a dividend payout ratio of 32.45%.

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Webster Financial Corporation (NYSE:WBS - Free Report) by 122.1% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 34,462 shares of the financial services provider's stock after buying an additional 18,945 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Webster Financial were worth $2,022,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of WBS. Sivia Capital Partners LLC bought a new position in Webster Financial during the second quarter worth about $254,000. Pallas Capital Advisors LLC bought a new position in Webster Financial during the second quarter worth about $474,000. Voya Investment Management LLC increased its position in Webster Financial by 2.8% during the first quarter. Voya Investment Management LLC now owns 21,309 shares of the financial services provider's stock worth $1,098,000 after acquiring an additional 579 shares during the period. Strs Ohio bought a new position in Webster Financial during the first quarter worth about $1,914,000. Finally, Geneos Wealth Management Inc. increased its position in Webster Financial by 81.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,107 shares of the financial services provider's stock worth $57,000 after acquiring an additional 497 shares during the period. Institutional investors and hedge funds own 85.58% of the company's stock.

Webster Financial Trading Up 0.0%

WBS opened at $59.84 on Monday. The company's 50 day moving average is $59.82 and its 200-day moving average is $54.27. Webster Financial Corporation has a 1-year low of $39.43 and a 1-year 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 company has a market cap of $9.94 billion, a P/E ratio of 12.14, a PEG ratio of 0.55 and a beta of 1.07.

Webster Financial (NYSE:WBS - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.09. Webster Financial had a net margin of 20.06% and a return on equity of 10.84%. The company had revenue of $715.80 million for the quarter, compared to the consensus estimate of $716.59 million. During the same period last year, the company posted $1.26 EPS. The firm's quarterly revenue was up 16.5% compared to the same quarter last year. Equities research 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 disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Monday, August 11th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Monday, August 11th. Webster Financial's dividend payout ratio (DPR) is 32.45%.

Insiders Place Their Bets

In related news, CAO Albert Jen-Wen Wang sold 3,250 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $60.31, for a total value of $196,007.50. Following the completion of the transaction, the chief accounting officer owned 15,755 shares in the company, valued at $950,184.05. This trade represents a 17.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason A. Soto sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $61.21, for a total transaction 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. This trade 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 quarter. 0.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

WBS has been the topic of a number of recent research reports. 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. UBS Group reaffirmed a "buy" rating and set a $69.00 price target on shares of Webster Financial in a research report on Wednesday, July 9th. Cowen initiated coverage on shares of Webster Financial in a research report on Wednesday. They set a "buy" rating on the stock. Cantor Fitzgerald initiated coverage on shares of Webster Financial in a research report on Wednesday, September 10th. They set an "overweight" rating and a $70.00 price target on the stock. Finally, Keefe, Bruyette & Woods raised their price target on shares of Webster Financial from $65.00 to $68.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Thirteen 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, the company currently has an average rating of "Moderate Buy" and an average target price of $67.73.

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.

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