Webster Financial Corporation $WBS Shares Acquired by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors Inc. OH increased its holdings in Webster Financial Corporation by 4.0% in Q2, owning approximately $21.9 million worth of shares.
• Several institutional investors significantly boosted their stakes in Webster Financial during the first quarter, with Amundi leading with an increase of 699.7%.
• Analysts have shown positive sentiment towards Webster Financial, with a consensus rating of "Moderate Buy" and an average target price of $67.73.

Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Webster Financial Corporation (NYSE:WBS - Free Report) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 401,504 shares of the financial services provider's stock after acquiring an additional 15,420 shares during the period. Fort Washington Investment Advisors Inc. OH owned approximately 0.24% of Webster Financial worth $21,922,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Amundi grew its holdings in shares of Webster Financial by 699.7% in the 1st quarter. Amundi now owns 137,740 shares of the financial services provider's stock worth $7,100,000 after acquiring an additional 120,516 shares during the period. Bessemer Group Inc. increased its holdings in Webster Financial by 166.1% during the 1st quarter. Bessemer Group Inc. now owns 1,027 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 641 shares in the last quarter. GAMMA Investing LLC raised its position in Webster Financial by 48.3% during the first quarter. GAMMA Investing LLC now owns 3,032 shares of the financial services provider's stock worth $156,000 after acquiring an additional 987 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Webster Financial by 9.9% in the first quarter. LPL Financial LLC now owns 77,103 shares of the financial services provider's stock valued at $3,975,000 after purchasing an additional 6,948 shares in the last quarter. Finally, Allworth Financial LP grew its position in shares of Webster Financial by 43.7% in the first quarter. Allworth Financial LP now owns 941 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 286 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WBS. Cantor Fitzgerald initiated coverage on Webster Financial in a research report on Wednesday, September 10th. They set an "overweight" rating and a $70.00 price objective for the company. Truist Financial reissued a "buy" rating and issued a $67.00 price target (up from $61.00) on shares of Webster Financial in a report on Friday, July 11th. Seaport Res Ptn downgraded Webster Financial from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Barclays lifted their price objective on Webster Financial from $72.00 to $77.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, UBS Group restated a "buy" rating and issued a $69.00 target price on shares of Webster Financial in a report on Wednesday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $67.73.

Webster Financial Price Performance

WBS opened at $59.84 on Monday. Webster Financial Corporation has a twelve month low of $39.43 and a twelve month high of $63.99. The firm has a market cap of $9.94 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.55 and a beta of 1.07. 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 fifty day simple moving average of $59.82 and a 200 day simple moving average of $54.27.

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

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Monday, August 11th were paid a dividend of $0.40 per share. 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%.

Insider Activity at Webster Financial

In other Webster Financial news, insider James Mi Griffin sold 807 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $62.14, for a total value of $50,146.98. Following the transaction, the insider directly owned 12,556 shares of the company's stock, valued at $780,229.84. This represents a 6.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Albert Jen-Wen Wang sold 3,250 shares of the 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 transaction, the chief accounting officer owned 15,755 shares of the company's stock, valued at approximately $950,184.05. This trade represents a 17.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,445 shares of company stock worth $2,168,537 over the last ninety days. Company insiders own 0.54% of the company's stock.

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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