Webster Financial Co. (NYSE:WBS) Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP trimmed its holdings in shares of Webster Financial Co. (NYSE:WBS) by 52.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,979 shares of the financial services provider’s stock after selling 13,227 shares during the period. Aigen Investment Management LP’s holdings in Webster Financial were worth $660,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Webster Financial by 5.7% during the first quarter. BlackRock Inc. now owns 8,135,643 shares of the financial services provider’s stock valued at $448,354,000 after purchasing an additional 439,398 shares during the period. Wasatch Advisors Inc. increased its holdings in shares of Webster Financial by 26.1% during the first quarter. Wasatch Advisors Inc. now owns 3,851,375 shares of the financial services provider’s stock valued at $212,249,000 after purchasing an additional 796,340 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Webster Financial by 3.9% during the fourth quarter. Alliancebernstein L.P. now owns 3,298,506 shares of the financial services provider’s stock valued at $139,032,000 after purchasing an additional 122,791 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Webster Financial by 11.7% during the fourth quarter. Bank of New York Mellon Corp now owns 2,426,516 shares of the financial services provider’s stock valued at $102,276,000 after purchasing an additional 253,556 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Webster Financial by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,405,665 shares of the financial services provider’s stock valued at $59,249,000 after purchasing an additional 38,568 shares during the period. 87.38% of the stock is currently owned by institutional investors.

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their target price on Webster Financial from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 20th. TheStreet raised Webster Financial from a “c+” rating to a “b-” rating in a report on Thursday, March 11th. Stephens raised Webster Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $56.00 to $60.00 in a report on Thursday, April 22nd. Raymond James lifted their target price on Webster Financial from $59.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, June 3rd. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $54.00 target price on shares of Webster Financial in a report on Tuesday, March 2nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Webster Financial currently has a consensus rating of “Buy” and a consensus price target of $53.55.

Shares of WBS opened at $56.88 on Friday. The business has a 50-day moving average of $55.55. The stock has a market cap of $5.14 billion, a PE ratio of 18.17 and a beta of 1.58. Webster Financial Co. has a 1-year low of $23.67 and a 1-year high of $63.81. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.79 and a quick ratio of 0.78.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Sunday, April 18th. The financial services provider reported $1.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.35. Webster Financial had a return on equity of 10.78% and a net margin of 23.21%. The firm had revenue of $300.50 million during the quarter, compared to analyst estimates of $299.54 million. During the same period last year, the company posted $0.39 EPS. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. Equities analysts anticipate that Webster Financial Co. will post 3.6 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 19th. Shareholders of record on Wednesday, May 5th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, May 4th. This represents a $1.60 dividend on an annualized basis and a yield of 2.81%. Webster Financial’s payout ratio is presently 57.55%.

Webster Financial Profile

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

See Also: Holder of Record

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

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