Webster Financial Co. (NYSE:WBS) Holdings Raised by Interval Partners LP

Interval Partners LP grew its stake in shares of Webster Financial Co. (NYSE:WBS) by 11.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 260,930 shares of the financial services provider’s stock after acquiring an additional 27,486 shares during the period. Interval Partners LP’s holdings in Webster Financial were worth $11,374,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of WBS. Principal Securities Inc. purchased a new position in Webster Financial in the fourth quarter valued at about $45,000. Janney Montgomery Scott LLC increased its holdings in Webster Financial by 3.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 33,087 shares of the financial services provider’s stock worth $1,680,000 after buying an additional 988 shares during the last quarter. Franklin Resources Inc. increased its holdings in Webster Financial by 33.4% in the fourth quarter. Franklin Resources Inc. now owns 119,730 shares of the financial services provider’s stock worth $6,077,000 after buying an additional 29,956 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Webster Financial by 29.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 255 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board acquired a new stake in Webster Financial in the fourth quarter valued at approximately $333,000. 85.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $48.04, for a total value of $384,320.00. Following the completion of the transaction, the chief executive officer now directly owns 237,049 shares of the company’s stock, valued at $11,387,833.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Jason A. Soto sold 1,650 shares of the company’s stock in a transaction dated 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 owns 20,539 shares of the company’s stock, valued at $951,366.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $48.04, for a total transaction of $384,320.00. Following the transaction, the chief executive officer now owns 237,049 shares of the company’s stock, valued at approximately $11,387,833.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,650 shares of company stock worth $706,098. Company insiders own 0.88% of the company’s stock.

Webster Financial Price Performance

Shares of Webster Financial stock opened at $48.03 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $8.24 billion, a PE ratio of 9.84, a price-to-earnings-growth ratio of 0.67 and a beta of 1.28. The firm has a fifty day moving average price of $46.12 and a two-hundred day moving average price of $45.62. 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 released its 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 during the quarter, compared to the consensus estimate of $671.91 million. During the same quarter in the previous year, the business posted $1.50 EPS. Analysts expect that Webster Financial Co. will post 5.27 EPS for the current year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Monday, July 29th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Monday, July 29th. Webster Financial’s payout ratio is presently 32.79%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays lowered 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. JPMorgan Chase & Co. cut their price objective on Webster Financial from $63.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Jefferies Financial Group decreased their target price on Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. 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. Finally, Morgan Stanley downgraded shares of Webster Financial from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock 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 assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus 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.