Perigon Wealth Management LLC Makes New $633,000 Investment in Webster Financial Corporation $WBS

Perigon Wealth Management LLC bought a new stake in Webster Financial Corporation (NYSE:WBS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,277 shares of the financial services provider’s stock, valued at approximately $633,000.

Several other institutional investors also recently made changes to their positions in the stock. BOKF NA purchased a new position in shares of Webster Financial in the 3rd quarter valued at about $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in Webster Financial during the third quarter worth about $29,000. New England Capital Financial Advisors LLC boosted its holdings in Webster Financial by 246.8% during the first quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock worth $30,000 after buying an additional 311 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new position in Webster Financial during the fourth quarter worth about $31,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Webster Financial during the third quarter worth about $33,000. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on WBS shares. Keefe, Bruyette & Woods reduced their price target on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research report on Friday, May 1st. Barclays upped their price target on Webster Financial from $75.00 to $78.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research note on Friday, June 12th. Finally, Royal Bank Of Canada lifted their price objective on Webster Financial from $75.00 to $76.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 22nd. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $74.25.

Webster Financial Price Performance

NYSE:WBS opened at $77.73 on Thursday. Webster Financial Corporation has a 12-month low of $52.69 and a 12-month high of $79.74. The firm has a market cap of $12.59 billion, a price-to-earnings ratio of 12.64 and a beta of 1.01. The company’s 50-day moving average is $76.66 and its two-hundred day moving average is $73.12. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.46.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). The firm had revenue of $769.23 million during the quarter, compared to analyst estimates of $755.80 million. Webster Financial had a net margin of 22.78% and a return on equity of 11.23%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 EPS. Research analysts expect that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, August 10th. Webster Financial’s dividend payout ratio is currently 26.02%.

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.