Intech Investment Management LLC Makes New $1.84 Million Investment in Webster Financial Co. (NYSE:WBS)

Intech Investment Management LLC bought a new stake in shares of Webster Financial Co. (NYSE:WBS) in the 2nd quarter, Holdings Channel reports. The fund bought 42,098 shares of the financial services provider’s stock, valued at approximately $1,835,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Janney Montgomery Scott LLC increased its holdings in Webster Financial by 3.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 33,087 shares of the financial services provider’s stock worth $1,680,000 after purchasing an additional 988 shares during the last quarter. Franklin Resources Inc. raised 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 valued at $6,077,000 after acquiring an additional 29,956 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Webster Financial by 29.7% in 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. Ontario Teachers Pension Plan Board bought a new position in Webster Financial during the 4th quarter valued at $333,000. Finally, United Services Automobile Association boosted its stake in Webster Financial by 6.4% during the 4th quarter. United Services Automobile Association now owns 13,037 shares of the financial services provider’s stock valued at $662,000 after acquiring an additional 784 shares during the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Stock Performance

Shares of WBS opened at $47.43 on Tuesday. Webster Financial Co. has a 12-month low of $36.36 and a 12-month high of $53.39. The stock has a market capitalization of $8.13 billion, a P/E ratio of 9.72, a P/E/G ratio of 0.67 and a beta of 1.28. The firm’s 50 day moving average is $46.12 and its 200-day moving average is $45.61. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.85.

Webster Financial (NYSE:WBS) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 EPS 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 period in the prior year, the company earned $1.50 earnings per share. Equities research analysts anticipate that Webster Financial Co. will post 5.27 EPS for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Monday, July 29th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.37%. The ex-dividend date was Monday, July 29th. Webster Financial’s payout ratio is 32.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on WBS shares. Morgan Stanley lowered shares of 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 note on Monday, August 5th. Barclays dropped their target price on 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 dropped their price target on shares of 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. cut their price objective on shares of Webster Financial from $63.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Finally, Royal Bank of Canada reduced their price target on shares of Webster Financial from $54.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.36.

Insider Activity

In other news, insider Jason A. Soto sold 1,650 shares of the company’s 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 transaction, the insider now directly owns 20,539 shares of the company’s stock, valued at $951,366.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Jason A. Soto sold 1,650 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total value of $76,428.00. Following the transaction, the insider now owns 20,539 shares in the company, valued at $951,366.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $48.04, for a total transaction of $384,320.00. Following the transaction, the chief executive officer now directly owns 237,049 shares in the company, valued at approximately $11,387,833.96. The disclosure for this sale can be found here. Insiders have sold 14,650 shares of company stock worth $706,098 in the last 90 days. Company insiders own 0.88% of the company’s stock.

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.