Verdence Capital Advisors LLC Buys 2,332 Shares of Webster Financial Co. (NYSE:WBS)

Verdence Capital Advisors LLC lifted its position in Webster Financial Co. (NYSE:WBS) by 37.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,637 shares of the financial services provider’s stock after buying an additional 2,332 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Webster Financial were worth $403,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of Webster Financial during the 3rd quarter worth about $27,000. UMB Bank n.a. grew its holdings in Webster Financial by 340.7% during the third quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 460 shares during the period. Hantz Financial Services Inc. acquired a new position in Webster Financial during the second quarter worth approximately $32,000. Mather Group LLC. raised its stake in Webster Financial by 7,650.0% in the second quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock valued at $54,000 after buying an additional 1,224 shares during the period. Finally, NBC Securities Inc. lifted its position in shares of Webster Financial by 117.9% in the third quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock valued at $59,000 after buying an additional 686 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on WBS shares. Wells Fargo & Company boosted their target price on Webster Financial from $50.00 to $60.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Stephens set a $58.00 price objective on shares of Webster Financial in a report on Thursday, October 17th. Barclays raised their target price on shares of Webster Financial from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Royal Bank of Canada increased their price target on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, Morgan Stanley reduced their price objective on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, September 30th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.85.

Insider Activity

In related news, CAO Albert Jen-Wen Wang sold 4,000 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $52.43, for a total transaction of $209,720.00. Following the completion of the sale, the chief accounting officer now directly owns 14,273 shares in the company, valued at $748,333.39. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Webster Financial news, insider Daniel Bley sold 3,463 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $52.10, for a total value of $180,422.30. Following the completion of the transaction, the insider now owns 19,529 shares of the company’s stock, valued at $1,017,460.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $52.43, for a total transaction of $209,720.00. Following the completion of the transaction, the chief accounting officer now owns 14,273 shares of the company’s stock, valued at approximately $748,333.39. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,100 shares of company stock worth $1,202,237. Insiders own 0.88% of the company’s stock.

Webster Financial Stock Performance

WBS opened at $59.97 on Tuesday. The firm has a market cap of $10.28 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 0.85 and a beta of 1.27. The business’s fifty day moving average is $48.61 and its 200-day moving average is $46.08. Webster Financial Co. has a 52-week low of $38.71 and a 52-week high of $61.04. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86.

Webster Financial (NYSE:WBS) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.01). The firm had revenue of $647.62 million during the quarter, compared to analyst estimates of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same quarter in the previous year, the firm posted $1.55 earnings per share. Sell-side analysts expect that Webster Financial Co. will post 5.24 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, November 1st. Webster Financial’s dividend payout ratio is presently 36.28%.

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.