Evergreen Capital Management LLC Grows Stock Holdings in Webster Financial Co. (NYSE:WBS)

Evergreen Capital Management LLC lifted its position in Webster Financial Co. (NYSE:WBS) by 78.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,466 shares of the financial services provider’s stock after buying an additional 3,733 shares during the period. Evergreen Capital Management LLC’s holdings in Webster Financial were worth $369,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of WBS. Rise Advisors LLC purchased a new position in Webster Financial in the first quarter worth $29,000. Hantz Financial Services Inc. acquired a new stake in shares of Webster Financial in the 2nd quarter worth $32,000. Mather Group LLC. grew its stake in Webster Financial by 7,650.0% during the 2nd quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock worth $54,000 after buying an additional 1,224 shares during the last quarter. GAMMA Investing LLC increased its position in Webster Financial by 30.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,629 shares of the financial services provider’s stock valued at $71,000 after buying an additional 377 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Webster Financial in the second quarter valued at about $71,000. Institutional investors own 85.58% of the company’s stock.

Webster Financial Price Performance

Shares of WBS opened at $46.12 on Friday. The company has a market capitalization of $7.91 billion, a P/E ratio of 9.45, a P/E/G ratio of 0.69 and a beta of 1.28. The business’s 50-day moving average is $45.93 and its two-hundred day moving average is $45.60. 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 fifty-two week low of $36.36 and a fifty-two week high of $53.39.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.08). Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. 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 prior year, the business posted $1.50 earnings per share. Research analysts predict that Webster Financial Co. will post 5.27 earnings per share for the current year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Monday, July 29th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Monday, July 29th. Webster Financial’s dividend payout ratio (DPR) is presently 32.79%.

Analyst Upgrades and Downgrades

WBS has been the topic of a number of research analyst reports. Jefferies Financial Group dropped their price target on Webster Financial from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Barclays dropped their target price on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. Keefe, Bruyette & Woods decreased their price target on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, July 9th. JPMorgan Chase & Co. lowered their price objective on shares of Webster Financial from $63.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Finally, Morgan Stanley downgraded Webster Financial from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $54.00 to $57.00 in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.36.

Insider Buying and Selling at Webster Financial

In other news, insider Jason A. Soto sold 1,650 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total transaction of $76,428.00. Following the sale, the insider now directly owns 20,539 shares of the company’s stock, valued at approximately $951,366.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Jason A. Soto sold 1,650 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total value of $76,428.00. Following the completion of the transaction, the insider now owns 20,539 shares of the company’s stock, valued at approximately $951,366.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles L. Wilkins sold 5,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 45,157 shares in the company, valued at $2,215,853.99. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,650 shares of company stock valued at $706,098. Corporate insiders own 0.88% of the company’s stock.

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.