Webster Financial Co. (NYSE:WBS) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its position in Webster Financial Co. (NYSE:WBS) by 65.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 168,272 shares of the financial services provider’s stock after acquiring an additional 66,418 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Webster Financial were worth $7,335,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. lifted its stake in shares of Webster Financial by 8.1% in the second quarter. Sei Investments Co. now owns 1,833,761 shares of the financial services provider’s stock worth $79,934,000 after acquiring an additional 137,242 shares in the last quarter. King Luther Capital Management Corp increased its holdings in Webster Financial by 14.5% during the 2nd quarter. King Luther Capital Management Corp now owns 99,210 shares of the financial services provider’s stock worth $4,325,000 after purchasing an additional 12,543 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Webster Financial in the 2nd quarter valued at approximately $1,835,000. Inspire Investing LLC grew its position in shares of Webster Financial by 14.6% during the second quarter. Inspire Investing LLC now owns 8,061 shares of the financial services provider’s stock worth $351,000 after buying an additional 1,028 shares in the last quarter. Finally, Seven Eight Capital LP increased its stake in shares of Webster Financial by 298.5% in the second quarter. Seven Eight Capital LP now owns 38,699 shares of the financial services provider’s stock worth $1,687,000 after buying an additional 28,988 shares during the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Charles L. Wilkins sold 5,000 shares of Webster Financial stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $49.07, for a total transaction of $245,350.00. Following the sale, the insider now owns 45,157 shares of the company’s stock, valued at $2,215,853.99. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Charles L. Wilkins sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $49.07, for a total value of $245,350.00. Following the sale, the insider now directly owns 45,157 shares in the company, valued at approximately $2,215,853.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jason A. Soto sold 1,650 shares of Webster Financial stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total value of $76,428.00. Following the sale, the insider now directly owns 20,539 shares in the company, valued at approximately $951,366.48. 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. Insiders own 0.88% of the company’s stock.

Webster Financial Trading Up 1.5 %

Shares of NYSE WBS opened at $46.12 on Friday. Webster Financial Co. has a 12-month low of $36.36 and a 12-month high of $53.39. The company has a market cap of $7.91 billion, a price-to-earnings ratio of 9.45, a price-to-earnings-growth ratio of 0.69 and a beta of 1.28. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock’s 50 day simple moving average is $45.93 and its 200 day simple moving average is $45.60.

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

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Monday, July 29th were paid 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 payout ratio is 32.79%.

Wall Street Analyst Weigh In

WBS has been the topic of a number of research analyst reports. Barclays reduced their price objective on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Royal Bank of Canada decreased their price target on Webster Financial from $54.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods cut their price objective on Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 9th. JPMorgan Chase & Co. reduced 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, Morgan Stanley downgraded Webster Financial from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $54.00 to $57.00 in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.36.

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.