Webster Financial Corporation $WBS Shares Sold by Mint Tower Capital Management B.V.

Mint Tower Capital Management B.V. reduced its holdings in Webster Financial Corporation (NYSE:WBS) by 38.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 64,764 shares of the financial services provider’s stock after selling 40,000 shares during the period. Webster Financial comprises approximately 0.6% of Mint Tower Capital Management B.V.’s portfolio, making the stock its 29th largest holding. Mint Tower Capital Management B.V.’s holdings in Webster Financial were worth $4,949,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BOKF NA acquired a new stake in Webster Financial during the third quarter worth about $26,000. Caitong International Asset Management Co. Ltd acquired a new position in Webster Financial in the third quarter valued at approximately $29,000. New England Capital Financial Advisors LLC grew its holdings in shares of Webster Financial by 246.8% during the first quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 311 shares during the last quarter. Atlas Capital Advisors Inc. bought a new position in shares of Webster Financial during the fourth quarter valued at approximately $31,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Webster Financial during the 3rd quarter worth approximately $33,000. 85.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Royal Bank Of Canada raised their price target on Webster Financial from $75.00 to $76.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Keefe, Bruyette & Woods lowered their price target on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research report on Friday, May 1st. Finally, Barclays increased their price objective on shares of Webster Financial from $75.00 to $78.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Webster Financial currently has an average rating of “Hold” and an average target price of $74.25.

Webster Financial Price Performance

WBS opened at $77.57 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $12.57 billion, a PE ratio of 12.61 and a beta of 1.01. The stock’s fifty day moving average is $77.08 and its 200-day moving average is $73.47. Webster Financial Corporation has a one year low of $52.69 and a one year high of $79.74.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). The business had revenue of $769.23 million during the quarter, compared to analyst estimates of $755.80 million. Webster Financial had a net margin of 22.78% and a return on equity of 11.23%. Webster Financial’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.52 earnings per share. On average, equities analysts predict that Webster Financial Corporation will post 6.59 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Monday, August 10th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. Webster Financial’s dividend payout ratio is currently 26.02%.

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.