Webster Financial Corporation $WBS Shares Sold by First Trust Advisors LP

First Trust Advisors LP reduced its stake in shares of Webster Financial Corporation (NYSE:WBS) by 25.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 356,232 shares of the financial services provider’s stock after selling 121,710 shares during the period. First Trust Advisors LP’s holdings in Webster Financial were worth $24,730,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in WBS. BOKF NA acquired a new stake in shares of Webster Financial in the third quarter valued at about $26,000. New England Capital Financial Advisors LLC grew its position in 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 worth $30,000 after buying an additional 311 shares during the period. Flagship Harbor Advisors LLC acquired a new position in Webster Financial during the fourth quarter worth about $28,000. Caitong International Asset Management Co. Ltd purchased a new position in Webster Financial in the third quarter valued at about $29,000. Finally, Atlas Capital Advisors Inc. purchased a new position in Webster Financial in the fourth quarter valued at about $31,000. 85.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WBS has been the topic of several research analyst reports. Keefe, Bruyette & Woods decreased their price target on Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Royal Bank Of Canada raised their price objective on Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 22nd. UBS Group initiated coverage on Webster Financial in a research report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 target price on the stock. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $74.04.

Webster Financial Stock Up 0.1%

Shares of NYSE WBS opened at $77.04 on Wednesday. The firm’s 50-day moving average is $74.81 and its two-hundred day moving average is $71.58. The company has a market capitalization of $12.48 billion, a PE ratio of 12.53 and a beta of 1.00. Webster Financial Corporation has a 12-month low of $52.69 and a 12-month high of $77.69. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.87 and a quick ratio of 0.87.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data 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). Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.The business had revenue of $769.23 million for the quarter, compared to analysts’ expectations of $755.80 million. During the same period last year, the business earned $1.52 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities analysts anticipate that Webster Financial Corporation will post 6.55 EPS for the current fiscal year.

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.