Oppenheimer Asset Management Inc. Buys 1,182 Shares of Webster Financial Co. (NYSE:WBS)

Oppenheimer Asset Management Inc. raised its stake in Webster Financial Co. (NYSE:WBS) by 3.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 35,693 shares of the financial services provider’s stock after acquiring an additional 1,182 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Webster Financial were worth $1,556,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WBS. Norges Bank bought a new stake in Webster Financial in the 4th quarter valued at about $97,217,000. Azora Capital LP increased its holdings in shares of Webster Financial by 146.3% during the fourth quarter. Azora Capital LP now owns 1,477,198 shares of the financial services provider’s stock valued at $74,983,000 after acquiring an additional 877,540 shares in the last quarter. Sei Investments Co. raised its position in shares of Webster Financial by 39.5% during the fourth quarter. Sei Investments Co. now owns 1,477,642 shares of the financial services provider’s stock worth $75,006,000 after purchasing an additional 418,716 shares during the period. Groupama Asset Managment bought a new position in shares of Webster Financial in the 4th quarter worth $20,471,000. Finally, Earnest Partners LLC grew its position in Webster Financial by 11.2% in the 1st quarter. Earnest Partners LLC now owns 3,072,624 shares of the financial services provider’s stock valued at $155,997,000 after purchasing an additional 308,455 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Stock Performance

NYSE WBS opened at $46.79 on Thursday. The company has a market capitalization of $8.02 billion, a PE ratio of 9.59, a price-to-earnings-growth ratio of 0.67 and a beta of 1.28. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 0.85. Webster Financial Co. has a 52-week low of $36.36 and a 52-week high of $53.39. The company has a 50-day simple moving average of $46.02 and a 200 day simple moving average of $45.64.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.08). Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $671.91 million. During the same quarter in the previous year, the business earned $1.50 EPS. On average, research analysts predict that Webster Financial Co. will post 5.27 EPS for the current year.

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Monday, July 29th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.42%. Webster Financial’s dividend payout ratio is presently 32.79%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 9th. Royal Bank of Canada dropped their price target on shares of Webster Financial from $54.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Morgan Stanley lowered Webster Financial from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $54.00 to $57.00 in a report on Monday, August 5th. JPMorgan Chase & Co. dropped their target price on Webster Financial from $63.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Finally, Jefferies Financial Group decreased their price target on Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.36.

Insider Transactions at Webster Financial

In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $49.07, for a total transaction of $245,350.00. Following the completion of the transaction, the insider now owns 45,157 shares in the company, valued at $2,215,853.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Webster Financial news, insider Jason A. Soto sold 1,650 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total transaction of $76,428.00. Following the sale, the insider now owns 20,539 shares in the company, valued at $951,366.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charles L. Wilkins sold 5,000 shares of Webster Financial stock in a transaction on Friday, July 26th. The shares were sold at an average price of $49.07, for a total value of $245,350.00. Following the completion of the transaction, the insider now owns 45,157 shares of the company’s stock, valued at $2,215,853.99. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,650 shares of company stock worth $706,098. 0.88% of the stock is owned by company insiders.

About Webster Financial

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.