Sanctuary Advisors LLC Cuts Stake in Webster Financial Corporation $WBS

Sanctuary Advisors LLC lessened its position in Webster Financial Corporation (NYSE:WBS) by 37.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 11,552 shares of the financial services provider’s stock after selling 6,786 shares during the period. Sanctuary Advisors LLC’s holdings in Webster Financial were worth $802,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ABC Arbitrage SA acquired a new position in shares of Webster Financial during the first quarter worth about $300,000. State of Michigan Retirement System lifted its position in Webster Financial by 1.8% in the first quarter. State of Michigan Retirement System now owns 38,844 shares of the financial services provider’s stock valued at $2,697,000 after purchasing an additional 700 shares during the period. Fifth Third Bancorp lifted its position in Webster Financial by 183.3% in the first quarter. Fifth Third Bancorp now owns 60,406 shares of the financial services provider’s stock valued at $4,193,000 after purchasing an additional 39,087 shares during the period. Cedar Mountain Advisors LLC purchased a new stake in Webster Financial in the 1st quarter valued at approximately $55,000. Finally, Hsbc Holdings PLC boosted its holdings in Webster Financial by 4,807.2% in the 1st quarter. Hsbc Holdings PLC now owns 637,642 shares of the financial services provider’s stock valued at $43,993,000 after purchasing an additional 624,648 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on WBS shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Royal Bank Of Canada raised their price target on Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a report on Wednesday. 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. Finally, UBS Group started coverage on Webster Financial in a report on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $74.04.

Webster Financial Stock Down 0.0%

WBS stock opened at $76.06 on Monday. The company has a market cap of $12.32 billion, a P/E ratio of 12.37 and a beta of 1.00. Webster Financial Corporation has a 52 week low of $52.69 and a 52 week high of $77.69. The company’s 50-day moving average price is $74.60 and its 200 day moving average price is $71.41. 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 issued 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 return on equity of 11.23% and a net margin of 22.78%.The company had revenue of $739.99 million for the quarter, compared to analyst estimates of $755.80 million. During the same quarter in the previous year, the company posted $1.52 earnings per share. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, research analysts expect that Webster Financial Corporation will post 6.55 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were issued a $0.40 dividend. The ex-dividend date was Monday, May 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. Webster Financial’s dividend payout ratio is currently 26.02%.

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.