Webster Financial Corporation $WBS Shares Sold by Tompkins Financial Corp

Tompkins Financial Corp reduced its stake in Webster Financial Corporation (NYSE:WBS) by 9.0% in the 2nd quarter, Holdings Channel reports. The firm owned 95,539 shares of the financial services provider’s stock after selling 9,436 shares during the quarter. Tompkins Financial Corp’s holdings in Webster Financial were worth $5,216,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Webster Financial by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 7,108,082 shares of the financial services provider’s stock worth $366,408,000 after buying an additional 487,264 shares during the period. Invesco Ltd. boosted its holdings in Webster Financial by 3.1% in the 1st quarter. Invesco Ltd. now owns 5,049,297 shares of the financial services provider’s stock worth $260,291,000 after acquiring an additional 153,236 shares during the period. Price T Rowe Associates Inc. MD grew its position in Webster Financial by 0.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,597,943 shares of the financial services provider’s stock valued at $237,025,000 after acquiring an additional 42,406 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Webster Financial by 1.6% during the first quarter. American Century Companies Inc. now owns 3,015,647 shares of the financial services provider’s stock valued at $155,457,000 after purchasing an additional 48,942 shares during the period. Finally, Systematic Financial Management LP lifted its position in shares of Webster Financial by 1.0% during the first quarter. Systematic Financial Management LP now owns 1,005,441 shares of the financial services provider’s stock worth $51,830,000 after purchasing an additional 9,626 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WBS. Seaport Res Ptn lowered Webster Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 25th. JPMorgan Chase & Co. upped their target price on Webster Financial from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Raymond James Financial increased their target price on Webster Financial from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods upped their price target on shares of Webster Financial from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Friday, July 18th. Finally, Wells Fargo & Company increased their price objective on shares of Webster Financial from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Insider Activity at Webster Financial

In other news, insider Jason A. Soto sold 2,500 shares of the business’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $61.21, for a total value of $153,025.00. Following the sale, the insider owned 18,889 shares of the company’s stock, valued at approximately $1,156,195.69. The trade was a 11.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William L. Atwell sold 16,823 shares of the business’s stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $59.20, for a total transaction of $995,921.60. Following the completion of the sale, the director owned 30,915 shares in the company, valued at approximately $1,830,168. This trade represents a 35.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,445 shares of company stock worth $2,168,537 in the last quarter. Company insiders own 0.54% of the company’s stock.

Webster Financial Stock Up 1.8%

Shares of Webster Financial stock opened at $60.58 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.86 and a quick ratio of 0.85. Webster Financial Corporation has a 1-year low of $39.43 and a 1-year high of $63.99. The business’s fifty day moving average price is $59.63 and its two-hundred day moving average price is $53.75. The company has a market capitalization of $10.07 billion, a P/E ratio of 12.29, a PEG ratio of 0.54 and a beta of 1.07.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.09. Webster Financial had a return on equity of 10.84% and a net margin of 20.06%.The company had revenue of $715.80 million for the quarter, compared to analyst estimates of $716.59 million. During the same period last year, the company earned $1.26 earnings per share. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. As a group, research analysts forecast that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Monday, August 11th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Monday, August 11th. Webster Financial’s dividend payout ratio (DPR) is currently 32.45%.

About Webster Financial

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