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American Trust Acquires 1,729 Shares of Webster Financial Co. (NYSE:WBS)

Defense World · Sep 17, 2022 06:02

American Trust grew its holdings in Webster Financial Co. (NYSE:WBS – Get Rating) by 21.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 9,708 shares of the financial services provider's stock after purchasing an additional 1,729 shares during the period. American Trust's holdings in Webster Financial were worth $545,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of WBS. Covestor Ltd bought a new position in shares of Webster Financial in the 4th quarter valued at $28,000. Whittier Trust Co. bought a new position in shares of Webster Financial in the 1st quarter valued at $32,000. Front Row Advisors LLC bought a new position in shares of Webster Financial in the 1st quarter valued at $32,000. Harvest Fund Management Co. Ltd increased its stake in shares of Webster Financial by 55.5% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 675 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 241 shares during the last quarter. Finally, Glassman Wealth Services increased its stake in shares of Webster Financial by 2,043.8% in the 4th quarter. Glassman Wealth Services now owns 686 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 654 shares during the last quarter. Institutional investors own 85.98% of the company's stock.

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Webster Financial Stock Down 2.1 %

Shares of WBS opened at $46.71 on Friday. The company has a market capitalization of $8.21 billion, a PE ratio of 15.12 and a beta of 1.27. Webster Financial Co. has a 12 month low of $40.72 and a 12 month high of $65.00. The stock's 50-day moving average price is $46.68 and its two-hundred day moving average price is $48.84. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.47.

Webster Financial (NYSE:WBS – Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.04. The company had revenue of $607.60 million for the quarter, compared to the consensus estimate of $602.36 million. Webster Financial had a return on equity of 11.53% and a net margin of 20.70%. The firm's revenue was up 106.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.21 EPS. On average, analysts anticipate that Webster Financial Co. will post 5.48 EPS for the current year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 17th. Investors of record on Tuesday, August 2nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date was Monday, August 1st. Webster Financial's payout ratio is 51.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on WBS shares. Compass Point cut their price objective on Webster Financial to $77.00 in a report on Friday, July 22nd. Jefferies Financial Group cut their price objective on Webster Financial from $62.00 to $55.00 in a report on Monday, July 11th. Raymond James cut their price objective on Webster Financial from $73.00 to $57.00 and set a "strong-buy" rating on the stock in a report on Thursday, July 7th. StockNews.com downgraded Webster Financial from a "hold" rating to a "sell" rating in a report on Tuesday. Finally, JPMorgan Chase & Co. cut their price objective on Webster Financial from $61.00 to $51.00 and set a "neutral" rating on the stock in a report on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Webster Financial currently has a consensus rating of "Hold" and a consensus price target of $61.25.

Insider Activity at Webster Financial

In related news, COO Luis Massiani sold 8,000 shares of the business's stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $46.43, for a total value of $371,440.00. Following the completion of the sale, the chief operating officer now directly owns 152,910 shares of the company's stock, valued at approximately $7,099,611.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.85% of the stock is currently owned by corporate insiders.

Webster Financial Profile

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Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Retail Banking.