Tidal Investments LLC Acquires 73,486 Shares of Webster Financial Corporation $WBS

Tidal Investments LLC raised its holdings in shares of Webster Financial Corporation (NYSE:WBSFree Report) by 552.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,785 shares of the financial services provider’s stock after buying an additional 73,486 shares during the period. Tidal Investments LLC’s holdings in Webster Financial were worth $6,632,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. BOKF NA purchased a new position in shares of Webster Financial during the 3rd quarter worth $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Webster Financial during the 3rd quarter valued at $29,000. New England Capital Financial Advisors LLC increased its stake in shares of Webster Financial by 246.8% in the 1st 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 in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in shares of Webster Financial in the 4th quarter worth $31,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Webster Financial in the 3rd quarter worth $33,000. 85.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on WBS shares. Royal Bank Of Canada lifted their target price 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. Weiss Ratings restated a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Finally, Barclays raised their price objective 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. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $74.58.

Read Our Latest Research Report on WBS

Webster Financial Stock Performance

Shares of NYSE WBS opened at $77.57 on Friday. The firm has a fifty day moving average price of $77.37 and a 200-day moving average price of $73.84. 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 stock has a market cap of $12.57 billion, a PE ratio of 12.61 and a beta of 1.01. Webster Financial Corporation has a 1 year low of $52.69 and a 1 year high of $79.74.

Webster Financial (NYSE:WBSGet Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.60 EPS 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 firm had revenue of $769.23 million for the quarter, compared to the consensus estimate of $755.80 million. During the same quarter in the previous year, the business earned $1.52 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities 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 was paid on Thursday, August 20th. Shareholders of record on Monday, August 10th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Monday, August 10th. Webster Financial’s dividend payout ratio is presently 26.02%.

Webster Financial Profile

(Free Report)

Webster Financial Corporation is the bank holding company for Webster Bank, a regional financial institution headquartered in Stamford, Connecticut. Through its banking operations, the company provides commercial and retail banking services to businesses, individuals and institutions.

Webster Bank offers lending, deposit, cash management, treasury, payment and wealth management services. Its commercial banking activities serve middle-market companies, commercial real estate borrowers, municipalities and other organizations, while its retail banking business provides checking, savings, mortgage and consumer lending products.

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Institutional Ownership by Quarter for Webster Financial (NYSE:WBS)

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