Goldman Sachs Group Inc. cut its position in shares of Webster Financial Co. (NYSE:WBS) by 35.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 305,333 shares of the financial services provider’s stock after selling 169,104 shares during the quarter. Goldman Sachs Group Inc. owned 0.34% of Webster Financial worth $8,736,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in shares of Webster Financial by 125,100.0% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,252 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 1,251 shares in the last quarter. Twin Tree Management LP bought a new stake in shares of Webster Financial during the 1st quarter worth $30,000. Acadian Asset Management LLC boosted its stake in shares of Webster Financial by 127.3% during the 1st quarter. Acadian Asset Management LLC now owns 1,366 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 765 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Webster Financial by 18.6% during the 2nd quarter. Fifth Third Bancorp now owns 2,408 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 378 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Webster Financial by 9.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,868 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 567 shares in the last quarter. Institutional investors own 86.72% of the company’s stock.
Several brokerages have recently commented on WBS. Royal Bank of Canada began coverage on Webster Financial in a research report on Wednesday, June 24th. They issued an “outperform” rating and a $37.00 target price for the company. Wells Fargo & Company reissued a “buy” rating and set a $29.00 price objective (up previously from $27.00) on shares of Webster Financial in a research report on Tuesday, July 7th. Finally, Morgan Stanley reduced their price objective on Webster Financial from $34.00 to $31.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Webster Financial currently has a consensus rating of “Hold” and a consensus target price of $36.11.
Webster Financial stock opened at $27.03 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.79 and a current ratio of 0.80. The business’s 50-day simple moving average is $28.03 and its 200-day simple moving average is $27.17. The firm has a market capitalization of $2.44 billion, a PE ratio of 9.26 and a beta of 1.64. Webster Financial Co. has a 52 week low of $18.16 and a 52 week high of $54.04.
Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The business had revenue of $284.48 million for the quarter, compared to analyst estimates of $298.68 million. Webster Financial had a return on equity of 9.30% and a net margin of 20.01%. During the same period in the previous year, the company posted $1.05 earnings per share. Research analysts forecast that Webster Financial Co. will post 2.36 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.92%. Webster Financial’s payout ratio is presently 39.31%.
Webster Financial Profile
Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.
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