Perigon Wealth Management LLC Takes Position in Webster Financial Corporation $WBS

Perigon Wealth Management LLC acquired a new position in shares of Webster Financial Corporation (NYSE:WBS) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 8,277 shares of the financial services provider’s stock, valued at approximately $633,000.

Several other hedge funds have also modified their holdings of the stock. BOKF NA purchased a new stake in Webster Financial in the third quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new position in Webster Financial during the third quarter worth approximately $29,000. New England Capital Financial Advisors LLC raised its stake 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 purchasing an additional 311 shares during the period. Atlas Capital Advisors Inc. purchased a new position in Webster Financial during the fourth quarter worth approximately $31,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Webster Financial in the 3rd quarter valued at $33,000. 85.58% of the stock is owned by institutional investors and hedge funds.

Webster Financial Stock Performance

Shares of WBS stock opened at $77.73 on Thursday. Webster Financial Corporation has a 12 month low of $52.69 and a 12 month high of $79.74. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $12.59 billion, a P/E ratio of 12.64 and a beta of 1.01. The company’s fifty day moving average price is $76.66 and its two-hundred day moving average price is $73.12.

Webster Financial (NYSE:WBS) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.01). Webster Financial had a net margin of 22.78% and a return on equity of 11.23%. The business had revenue of $769.23 million for the quarter, compared to analyst estimates of $755.80 million. During the same quarter in the prior year, the business earned $1.52 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. On average, research analysts anticipate that Webster Financial Corporation will post 6.59 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

WBS has been the subject of a number of research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Webster Financial in a report on Friday, June 12th. Keefe, Bruyette & Woods reduced their target price on Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a report on Friday, May 1st. Royal Bank Of Canada boosted their price target on Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 22nd. Finally, Barclays upped their price target on Webster Financial from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.25.

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.