Sei Investments Co. Sells 199,022 Shares of Webster Financial Corporation $WBS

Sei Investments Co. lessened its stake in shares of Webster Financial Corporation (NYSE:WBS) by 11.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,592,919 shares of the financial services provider’s stock after selling 199,022 shares during the period. Sei Investments Co.’s holdings in Webster Financial were worth $110,580,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of WBS. BOKF NA purchased a new position in Webster Financial during the third quarter worth $26,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Webster Financial in the fourth quarter valued at $28,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Webster Financial in the 3rd quarter worth about $29,000. New England Capital Financial Advisors LLC lifted its holdings 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 acquiring an additional 311 shares during the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new position in shares of Webster Financial during the 4th quarter worth about $31,000. 85.58% of the stock is currently owned by institutional investors.

Webster Financial Stock Down 1.5%

Shares of WBS opened at $75.44 on Friday. The firm has a fifty day moving average price of $74.51 and a 200-day moving average price of $71.33. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $12.22 billion, a P/E ratio of 12.27 and a beta of 1.00. Webster Financial Corporation has a 12-month low of $52.69 and a 12-month high of $77.69.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results 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). The company had revenue of $739.99 million during the quarter, compared to analysts’ expectations of $755.80 million. Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.52 EPS. Equities research analysts expect that Webster Financial Corporation will post 6.57 earnings per share for the current year.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were given a dividend of $0.40 per share. The ex-dividend date of this dividend 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 (DPR) is 26.19%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods cut their price target on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a report on Friday, May 1st. Royal Bank Of Canada raised their price objective on shares of Webster Financial from $75.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Weiss Ratings restated a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Finally, UBS Group started coverage on Webster Financial in a research note on Tuesday, April 7th. They set a “neutral” rating and a $69.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $74.04.

Webster Financial 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.