Covestor Ltd Buys 276 Shares of Webster Financial Co. (NYSE:WBS)

Covestor Ltd increased its position in shares of Webster Financial Co. (NYSE:WBS) by 17.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,895 shares of the financial services provider’s stock after purchasing an additional 276 shares during the period. Covestor Ltd’s holdings in Webster Financial were worth $89,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WBS. V Square Quantitative Management LLC acquired a new position in shares of Webster Financial during the third quarter worth $27,000. UMB Bank n.a. lifted its holdings in Webster Financial by 340.7% during the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock worth $28,000 after buying an additional 460 shares during the period. Hantz Financial Services Inc. bought a new stake in shares of Webster Financial in the 2nd quarter valued at about $32,000. Mather Group LLC. increased its stake in shares of 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. raised its position in shares of Webster Financial by 117.9% during the third quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 686 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

Insider Buying and Selling

In related news, insider Javier L. Evans sold 10,137 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $57.41, for a total value of $581,965.17. Following the transaction, the insider now owns 22,657 shares of the company’s stock, valued at approximately $1,300,738.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Webster Financial news, insider Javier L. Evans sold 10,137 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $57.41, for a total transaction of $581,965.17. Following the transaction, the insider now directly owns 22,657 shares in the company, valued at approximately $1,300,738.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Pettie sold 4,500 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total transaction of $230,130.00. Following the completion of the sale, the director now owns 32,780 shares of the company’s stock, valued at approximately $1,676,369.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,100 shares of company stock worth $1,202,237 in the last quarter. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on WBS. Stephens set a $58.00 target price on Webster Financial in a report on Thursday, October 17th. Wedbush upped their price objective on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Morgan Stanley dropped their target price on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. Finally, Royal Bank of Canada increased their price target on Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Webster Financial has an average rating of “Moderate Buy” and a consensus target price of $57.85.

Webster Financial Stock Down 0.4 %

WBS stock opened at $59.84 on Thursday. 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 Co. has a fifty-two week low of $39.33 and a fifty-two week high of $61.12. The stock’s 50 day simple moving average is $49.16 and its 200 day simple moving average is $46.28. The company has a market cap of $10.26 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 0.89 and a beta of 1.27.

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

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial’s 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.