Amalgamated Bank Has $4.20 Million Stock Position in Webster Financial Corporation $WBS

Amalgamated Bank decreased its position in Webster Financial Corporation (NYSE:WBS) by 2.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 76,913 shares of the financial services provider’s stock after selling 1,659 shares during the period. Amalgamated Bank’s holdings in Webster Financial were worth $4,199,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC raised its holdings in Webster Financial by 4.5% in the 2nd quarter. Perigon Wealth Management LLC now owns 4,348 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 189 shares in the last quarter. PenderFund Capital Management Ltd. raised its holdings in Webster Financial by 4.0% in the 1st quarter. PenderFund Capital Management Ltd. now owns 5,578 shares of the financial services provider’s stock valued at $288,000 after acquiring an additional 215 shares in the last quarter. Beverly Hills Private Wealth LLC raised its holdings in Webster Financial by 4.5% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 6,058 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 262 shares in the last quarter. Allworth Financial LP raised its holdings in Webster Financial by 43.7% in the 1st quarter. Allworth Financial LP now owns 941 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 286 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in Webster Financial by 50.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 899 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 301 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Stock Up 0.7%

NYSE WBS opened at $56.98 on Monday. The firm has a market cap of $9.47 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 0.50 and a beta of 1.05. Webster Financial Corporation has a one year low of $39.43 and a one year high of $63.99. The stock’s 50 day simple moving average is $59.45 and its 200 day simple moving average is $56.02. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.85.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Friday, October 17th. The financial services provider reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.02. The business had revenue of $732.60 million for the quarter, compared to analyst estimates of $725.22 million. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.During the same period in the prior year, the company earned $1.34 EPS. As a group, sell-side analysts forecast that Webster Financial Corporation will post 5.88 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, November 10th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, November 10th. Webster Financial’s dividend payout ratio (DPR) is presently 29.80%.

Wall Street Analyst Weigh In

Several research firms have commented on WBS. Weiss Ratings cut Webster Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. UBS Group reissued a “buy” rating and issued a $69.00 target price on shares of Webster Financial in a report on Wednesday, July 9th. JPMorgan Chase & Co. dropped their target price on Webster Financial from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. Raymond James Financial reissued an “outperform” rating and issued a $65.00 target price (down from $68.00) on shares of Webster Financial in a report on Monday, October 20th. Finally, Truist Financial dropped their target price on Webster Financial from $69.00 to $67.00 and set a “buy” rating for the company in a report on Monday, October 20th. Thirteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.69.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, insider James Mi Griffin sold 807 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $62.14, for a total value of $50,146.98. Following the transaction, the insider directly owned 12,556 shares in the company, valued at approximately $780,229.84. This trade represents a 6.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Elzbieta Cieslik sold 2,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $61.58, for a total value of $123,160.00. Following the completion of the transaction, the chief accounting officer owned 14,894 shares in the company, valued at $917,172.52. The trade was a 11.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 11,807 shares of company stock worth $698,527. Insiders own 0.54% of the company’s stock.

Webster Financial Company Profile

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.