Park Avenue Securities LLC Buys 1,023 Shares of Webster Financial Co. (NYSE:WBS)

Park Avenue Securities LLC grew its stake in Webster Financial Co. (NYSE:WBS) by 24.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 5,196 shares of the financial services provider’s stock after purchasing an additional 1,023 shares during the quarter. Park Avenue Securities LLC’s holdings in Webster Financial were worth $264,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in Webster Financial by 29.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 255 shares during the period. Spire Wealth Management grew its holdings in Webster Financial by 79.1% during the fourth quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 268 shares during the period. Mariner LLC grew its holdings in Webster Financial by 2.4% during the third quarter. Mariner LLC now owns 13,812 shares of the financial services provider’s stock worth $557,000 after purchasing an additional 320 shares during the period. Wedmont Private Capital grew its holdings in Webster Financial by 6.5% during the first quarter. Wedmont Private Capital now owns 6,054 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 367 shares during the period. Finally, Treasurer of the State of North Carolina grew its holdings in Webster Financial by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 76,239 shares of the financial services provider’s stock worth $3,073,000 after purchasing an additional 390 shares during the period. Institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Up 1.5 %

Shares of WBS opened at $44.26 on Tuesday. Webster Financial Co. has a one year low of $36.36 and a one year high of $53.39. The company has a market cap of $7.59 billion, a P/E ratio of 9.07, a P/E/G ratio of 0.53 and a beta of 1.31. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a 50 day simple moving average of $43.59 and a two-hundred day simple moving average of $47.02.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The firm had revenue of $667.10 million for the quarter, compared to analyst estimates of $680.72 million. During the same quarter in the prior year, the firm earned $1.49 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts forecast that Webster Financial Co. will post 5.56 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.62%. Webster Financial’s payout ratio is presently 32.79%.

Insiders Place Their Bets

In other Webster Financial news, insider Daniel Bley sold 2,280 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $44.80, for a total transaction of $102,144.00. Following the sale, the insider now owns 28,693 shares of the company’s stock, valued at $1,285,446.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on WBS shares. Keefe, Bruyette & Woods reduced their price target on Webster Financial from $64.00 to $58.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Raymond James restated an “outperform” rating and set a $60.00 price objective on shares of Webster Financial in a research report on Tuesday, March 26th. StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Royal Bank of Canada cut their price objective on shares of Webster Financial from $57.00 to $54.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Finally, Barclays cut their price objective on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.17.

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.