Sanctuary Advisors LLC Makes New Investment in Webster Financial Corporation $WBS

Sanctuary Advisors LLC purchased a new position in shares of Webster Financial Corporation (NYSE:WBS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,919 shares of the financial services provider’s stock, valued at approximately $1,140,000.

Several other institutional investors and hedge funds have also made changes to their positions in WBS. BOKF NA purchased a new position in shares of Webster Financial in the 3rd quarter valued at about $26,000. New England Capital Financial Advisors LLC lifted 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 last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Webster Financial in the third quarter valued at approximately $29,000. Atlas Capital Advisors Inc. acquired a new position in Webster Financial in the fourth quarter valued at approximately $31,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Webster Financial in the third quarter valued at approximately $33,000. 85.58% of the stock is owned by institutional investors and hedge funds.

Webster Financial Price Performance

WBS stock opened at $77.57 on Friday. The company has a market capitalization of $12.57 billion, a P/E ratio of 12.61 and a beta of 1.01. Webster Financial Corporation has a twelve month low of $52.69 and a twelve month high of $79.74. The business has a 50 day simple moving average of $77.04 and a 200-day simple moving average of $73.44. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.46.

Webster Financial (NYSE:WBS) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $1.60 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $755.80 million. During the same period in the previous year, the firm earned $1.52 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts anticipate that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WBS. Keefe, Bruyette & Woods reduced their price objective 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Barclays lifted their price target on shares of Webster Financial from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada boosted their price target on shares of Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $74.25.

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.