Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Webster Financial Co. (NYSE:WBS) by 232.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 182,935 shares of the financial services provider’s stock after buying an additional 127,920 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned 0.20% of Webster Financial worth $9,269,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Webster Financial by 1.5% in the 4th quarter. BlackRock Inc. now owns 8,652,358 shares of the financial services provider’s stock valued at $426,472,000 after purchasing an additional 126,127 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Webster Financial by 3.3% in the third quarter. Vanguard Group Inc. now owns 8,461,192 shares of the financial services provider’s stock valued at $498,873,000 after buying an additional 270,130 shares in the last quarter. Vanguard Group Inc boosted its stake in shares of Webster Financial by 3.3% in the third quarter. Vanguard Group Inc now owns 8,461,192 shares of the financial services provider’s stock valued at $498,873,000 after buying an additional 270,130 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Webster Financial by 3.7% in the fourth quarter. Bank of New York Mellon Corp now owns 2,290,629 shares of the financial services provider’s stock valued at $112,904,000 after buying an additional 81,913 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its stake in shares of Webster Financial by 2.1% in the fourth quarter. Macquarie Group Ltd. now owns 2,181,475 shares of the financial services provider’s stock valued at $107,525,000 after buying an additional 45,660 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.
A number of analysts recently weighed in on WBS shares. Zacks Investment Research upgraded Webster Financial from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Tuesday, March 12th. Boenning Scattergood restated a “hold” rating on shares of Webster Financial in a research note on Monday, April 22nd. ValuEngine downgraded Webster Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Compass Point started coverage on Webster Financial in a research note on Tuesday, May 7th. They issued a “buy” rating on the stock. Finally, Barclays decreased their price target on Webster Financial from $68.00 to $62.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $62.40.
In other news, EVP Daniel Bley sold 4,000 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $52.39, for a total value of $209,560.00. Following the completion of the transaction, the executive vice president now directly owns 20,654 shares of the company’s stock, valued at $1,082,063.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Joseph Crawford sold 600 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $53.60, for a total value of $32,160.00. Following the completion of the transaction, the director now directly owns 17,099 shares of the company’s stock, valued at $916,506.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,100 shares of company stock valued at $321,865. Insiders own 1.53% of the company’s stock.
WBS stock traded down $1.04 during midday trading on Wednesday, hitting $48.79. 389,400 shares of the stock were exchanged, compared to its average volume of 509,514. The stock has a market cap of $4.52 billion, a PE ratio of 13.05, a P/E/G ratio of 1.47 and a beta of 1.18. Webster Financial Co. has a fifty-two week low of $45.38 and a fifty-two week high of $69.63. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.81 and a current ratio of 0.81.
Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.05. Webster Financial had a return on equity of 13.77% and a net margin of 27.57%. The firm had revenue of $310.20 million during the quarter, compared to analysts’ expectations of $310.46 million. During the same period in the previous year, the firm posted $0.85 earnings per share. Webster Financial’s revenue was up 10.6% on a year-over-year basis. As a group, equities research analysts predict that Webster Financial Co. will post 4.17 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 6th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.28%. This is a boost from Webster Financial’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, May 3rd. Webster Financial’s payout ratio is 42.78%.
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Webster Financial Company Profile
Webster Financial Corporation operates as the 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.
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