Webster Financial Corporation $WBS Shares Sold by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd reduced its stake in Webster Financial Corporation by 56.5%, selling 14,273 shares, and now owns 10,970 shares worth $566,000.
• Webster Financial reported a quarterly EPS of $1.52, beating the consensus estimate, and achieved a 16.5% increase in revenue compared to the same quarter last year.
• The company's recent dividend of $0.40 per share represents an annual yield of 2.6%, with a payout ratio of 32.45%.

Dynamic Technology Lab Private Ltd decreased its stake in Webster Financial Corporation (NYSE:WBS - Free Report) by 56.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,970 shares of the financial services provider's stock after selling 14,273 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Webster Financial were worth $566,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. PenderFund Capital Management Ltd. lifted its position in shares of Webster Financial by 4.0% in the first quarter. PenderFund Capital Management Ltd. now owns 5,578 shares of the financial services provider's stock valued at $288,000 after acquiring an additional 215 shares in the last quarter. Penbrook Management LLC raised its stake in Webster Financial by 5.2% in the 1st quarter. Penbrook Management LLC now owns 5,080 shares of the financial services provider's stock valued at $262,000 after purchasing an additional 250 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Webster Financial by 1.2% in the 4th quarter. Cetera Investment Advisers now owns 21,299 shares of the financial services provider's stock valued at $1,176,000 after purchasing an additional 259 shares in the last quarter. Beverly Hills Private Wealth LLC boosted its stake in Webster Financial by 4.5% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 6,058 shares of the financial services provider's stock worth $312,000 after purchasing an additional 262 shares during the last quarter. Finally, Allworth Financial LP boosted its stake 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. Hedge funds and other institutional investors own 85.58% of the company's stock.

Webster Financial Stock Up 0.6%

WBS stock opened at $61.59 on Thursday. Webster Financial Corporation has a one year low of $39.43 and a one year high of $63.99. The firm has a market cap of $10.24 billion, a PE ratio of 12.49, a PEG ratio of 0.56 and a beta of 1.07. The firm's 50 day moving average price is $59.43 and its 200-day moving average price is $53.58. 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 (NYSE:WBS - Get Free Report) last posted its earnings results 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. Webster Financial had a return on equity of 10.84% and a net margin of 20.06%.The company had revenue of $715.80 million during the quarter, compared to analysts' expectations of $716.59 million. During the same quarter last year, the firm earned $1.26 earnings per share. The firm's quarterly revenue was up 16.5% compared to the same quarter last year. On average, equities research analysts anticipate that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial Announces Dividend

The business 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 annualized dividend and a yield of 2.6%. The ex-dividend date was Monday, August 11th. Webster Financial's payout ratio is 32.45%.

Insider Buying and Selling

In other news, CAO Albert Jen-Wen Wang sold 3,250 shares of the business'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 sale, the chief accounting officer directly owned 15,755 shares of the company's stock, valued at approximately $950,184.05. The trade was a 17.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason A. Soto sold 2,500 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $61.21, for a total transaction of $153,025.00. Following the transaction, the insider directly owned 18,889 shares of the company's stock, valued at $1,156,195.69. The trade was a 11.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,445 shares of company stock valued at $1,983,757 over the last three months. Company insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on WBS. Truist Financial restated a "buy" rating and set a $67.00 price target (up from $61.00) on shares of Webster Financial in a research report on Friday, July 11th. Barclays raised their target price on shares of Webster Financial from $72.00 to $77.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Cantor Fitzgerald initiated coverage on Webster Financial in a research report on Wednesday. They issued an "overweight" rating and a $70.00 price target for the company. Raymond James Financial lifted 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. Finally, Jefferies Financial Group assumed coverage on Webster Financial in a report on Wednesday, May 21st. They issued a "buy" rating and a $65.00 target price for the company. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $67.00.

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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