Webster Financial Corporation $WBS Shares Sold by Whittier Trust Co.

Key Points

• Whittier Trust Co. sharply reduced its Webster Financial stake by 97.7% in the first quarter, selling 210,172 shares and leaving it with 4,857 shares worth about $341,000.
• Webster Financial reported solid quarterly results, with EPS of $1.57 topping estimates and revenue of $764.05 million beating expectations; revenue also rose 4.4% year over year.
• The company continues to return cash to shareholders with a quarterly dividend of $0.40 per share, or $1.60 annually, for a yield of about 2.1%.

Whittier Trust Co. lessened its stake in Webster Financial Corporation (NYSE:WBS - Free Report) by 97.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,857 shares of the financial services provider's stock after selling 210,172 shares during the quarter. Whittier Trust Co.'s holdings in Webster Financial were worth $341,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in WBS. Pinnbrook Capital Management LP acquired a new stake in Webster Financial in the 3rd quarter worth about $2,254,000. Polar Asset Management Partners Inc. raised its holdings in shares of Webster Financial by 186.3% during the third quarter. Polar Asset Management Partners Inc. now owns 53,817 shares of the financial services provider's stock valued at $3,199,000 after acquiring an additional 35,017 shares during the last quarter. Holocene Advisors LP purchased a new position in shares of Webster Financial in the third quarter valued at approximately $44,254,000. Artemis Investment Management LLP acquired a new stake in shares of Webster Financial in the fourth quarter worth approximately $56,253,000. Finally, 140 Summer Partners LP acquired a new stake in shares of Webster Financial in the third quarter worth approximately $75,465,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Webster Financial Trading Down 2.1%

WBS opened at $75.50 on Thursday. The stock has a market capitalization of $12.23 billion, a PE ratio of 12.36 and a beta of 1.00. Webster Financial Corporation has a one year low of $52.69 and a one year high of $77.69. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.87 and a current ratio of 0.87. The business's 50 day moving average price is $73.65 and its 200 day moving average price is $70.40.

Webster Financial (NYSE:WBS - Get Free Report) last posted its earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.04. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.The company had revenue of $764.05 million during the quarter, compared to analysts' expectations of $735.26 million. During the same quarter last year, the firm earned $1.30 earnings per share. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts expect that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, May 11th. Webster Financial's dividend payout ratio (DPR) is presently 26.19%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Weiss Ratings reissued a "buy (b)" rating on shares of Webster Financial in a research note on Friday, June 12th. Keefe, Bruyette & Woods dropped their target price on shares of Webster Financial from $79.00 to $77.50 and set an "outperform" rating for the company in a report on Friday, May 1st. Finally, UBS Group assumed coverage on shares of Webster Financial in a research report on Tuesday, April 7th. They issued a "neutral" rating and a $69.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $73.96.

Webster Financial Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.

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