Whittier Trust Co. of Nevada Inc. Sells 113,471 Shares of Webster Financial Corporation $WBS

Key Points

• Whittier Trust Co. of Nevada Inc. slashed its Webster Financial stake by 98.1% in the first quarter, selling 113,471 shares and leaving it with just 2,254 shares worth about $158,000.
• Wall Street sentiment on Webster Financial (NYSE: WBS) is mixed, with four Buy ratings, eleven Hold ratings, and one Sell rating; the consensus view is Hold with a price target of $73.96.
• The company reported better-than-expected first-quarter results, with EPS of $1.57 and revenue of $764.05 million, while also paying a quarterly dividend of $0.40 per share for a 2.1% annualized yield.

Whittier Trust Co. of Nevada Inc. reduced its stake in shares of Webster Financial Corporation (NYSE:WBS - Free Report) by 98.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,254 shares of the financial services provider's stock after selling 113,471 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in Webster Financial were worth $158,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Grove Bank & Trust lifted its holdings in Webster Financial by 18.7% during the 4th quarter. Grove Bank & Trust now owns 1,005 shares of the financial services provider's stock valued at $63,000 after buying an additional 158 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Webster Financial by 39.7% in the 4th quarter. Farther Finance Advisors LLC now owns 560 shares of the financial services provider's stock worth $35,000 after acquiring an additional 159 shares in the last quarter. Curi Capital LLC increased its position in shares of Webster Financial by 0.3% during the second quarter. Curi Capital LLC now owns 68,500 shares of the financial services provider's stock worth $3,740,000 after acquiring an additional 182 shares during the period. Brown Brothers Harriman & Co. raised its stake in shares of Webster Financial by 27.9% during the third quarter. Brown Brothers Harriman & Co. now owns 839 shares of the financial services provider's stock valued at $50,000 after acquiring an additional 183 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Webster Financial by 37.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 674 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company's stock.

Wall Street Analysts Forecast Growth

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

Webster Financial Trading Down 2.1%

NYSE:WBS opened at $75.50 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.60. The firm has a fifty day simple moving average of $73.65 and a 200-day simple moving average of $70.40. Webster Financial Corporation has a 12 month low of $52.69 and a 12 month high of $77.69. The company has a market capitalization of $12.23 billion, a P/E ratio of 12.36 and a beta of 1.00.

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

Webster Financial Dividend Announcement

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

Webster Financial Company 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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