Buckley Wealth Management LLC purchased a new position in Webster Financial Co. (NYSE:WBS – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,340 shares of the financial services provider’s stock, valued at approximately $202,000.
A number of other hedge funds also recently bought and sold shares of WBS. Vanguard Group Inc. lifted its position in shares of Webster Financial by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 17,679,692 shares of the financial services provider’s stock valued at $799,122,000 after acquiring an additional 116,092 shares in the last quarter. BlackRock Inc. grew its position in Webster Financial by 2.1% during the first quarter. BlackRock Inc. now owns 17,498,723 shares of the financial services provider’s stock valued at $689,800,000 after purchasing an additional 362,728 shares in the last quarter. Capital International Investors increased its stake in Webster Financial by 18.2% in the 1st quarter. Capital International Investors now owns 9,297,676 shares of the financial services provider’s stock valued at $521,886,000 after buying an additional 1,433,204 shares during the period. State Street Corp lifted its position in Webster Financial by 9.8% in the 1st quarter. State Street Corp now owns 7,904,283 shares of the financial services provider’s stock worth $311,587,000 after buying an additional 707,001 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Webster Financial by 2.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,277,694 shares of the financial services provider’s stock valued at $247,468,000 after buying an additional 120,649 shares during the period. 86.37% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts recently issued reports on WBS shares. Seaport Res Ptn reissued a “buy” rating on shares of Webster Financial in a research report on Tuesday, September 12th. Piper Sandler lifted their price objective on shares of Webster Financial from $50.00 to $53.00 in a research note on Tuesday, August 8th. Royal Bank of Canada raised their target price on Webster Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Friday, July 21st. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Wedbush raised their price objective on Webster Financial from $40.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.20.
Webster Financial Stock Performance
Shares of NYSE:WBS opened at $40.87 on Tuesday. The business has a fifty day moving average of $43.40 and a 200-day moving average of $40.00. The firm has a market cap of $7.08 billion, a PE ratio of 7.78 and a beta of 1.28. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.89 and a current ratio of 0.89. Webster Financial Co. has a twelve month low of $31.03 and a twelve month high of $56.46.
Webster Financial (NYSE:WBS – Get Free Report) last released its earnings results on Thursday, July 20th. The financial services provider reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.03. Webster Financial had a return on equity of 13.68% and a net margin of 26.69%. The company had revenue of $673.20 million during the quarter, compared to the consensus estimate of $690.83 million. During the same quarter in the previous year, the company posted $1.29 earnings per share. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities research analysts predict that Webster Financial Co. will post 5.91 EPS for the current fiscal year.
Webster Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Stockholders of record on Wednesday, August 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend was Tuesday, August 1st. Webster Financial’s dividend payout ratio (DPR) is 30.48%.
Webster Financial Profile
Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking. The Commercial Banking segment provides commercial real estate and equipment financing, business banking, asset-based lending, and commercial services; public sector finance; mortgage warehouse financing; treasury management services; credit, deposit, and cash flow management services; and wealth management solutions to business owners and operators, including trust, asset management, financial planning, insurance, retirement, and investment products, as well as derivative, treasury, accounts payable, accounts receivable, and trade products and services.
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