Whittier Trust Co. of Nevada Inc. Has $6.77 Million Stake in Webster Financial Corporation $WBS

Whittier Trust Co. of Nevada Inc. raised its stake in shares of Webster Financial Corporation (NYSE:WBS) by 37.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,544 shares of the financial services provider’s stock after buying an additional 31,002 shares during the quarter. Whittier Trust Co. of Nevada Inc. owned about 0.07% of Webster Financial worth $6,768,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in Webster Financial during the 2nd quarter worth approximately $131,780,000. AQR Capital Management LLC raised its holdings in Webster Financial by 221.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,565,623 shares of the financial services provider’s stock worth $85,483,000 after buying an additional 1,077,819 shares during the period. Azora Capital LP lifted its stake in Webster Financial by 30.5% in the second quarter. Azora Capital LP now owns 1,886,385 shares of the financial services provider’s stock valued at $102,997,000 after buying an additional 440,347 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Webster Financial by 14.5% in the second quarter. American Century Companies Inc. now owns 3,453,778 shares of the financial services provider’s stock valued at $188,576,000 after buying an additional 438,131 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Webster Financial by 959.3% during the third quarter. Assenagon Asset Management S.A. now owns 358,294 shares of the financial services provider’s stock worth $21,297,000 after acquiring an additional 324,471 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Webster Financial Stock Down 3.2%

WBS stock opened at $64.13 on Monday. Webster Financial Corporation has a twelve month low of $39.43 and a twelve month high of $67.43. The company has a market cap of $10.34 billion, a price-to-earnings ratio of 10.85, a P/E/G ratio of 0.53 and a beta of 1.05. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average price of $62.60 and a two-hundred day moving average price of $60.17.

Webster Financial (NYSE:WBS) last released its earnings results on Friday, January 23rd. The financial services provider reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.07. The business had revenue of $760.48 million during the quarter, compared to analysts’ expectations of $731.95 million. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. During the same period last year, the business earned $1.43 earnings per share. Analysts anticipate that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, November 10th. Webster Financial’s dividend payout ratio is presently 27.07%.

Insider Transactions at Webster Financial

In related news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $55.45, for a total transaction of $443,600.00. Following the completion of the transaction, the chief executive officer owned 231,872 shares in the company, valued at approximately $12,857,302.40. This trade represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Webster Financial from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. UBS Group restated a “buy” rating on shares of Webster Financial in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Webster Financial in a research report on Monday, December 29th. Keefe, Bruyette & Woods lifted their target price on Webster Financial from $75.00 to $77.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Raymond James Financial boosted their target price on Webster Financial from $65.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, January 7th. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $72.92.

About Webster Financial

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.