Webster Financial Co. (NYSE:WBS) Stake Lifted by Wedmont Private Capital

Wedmont Private Capital increased its stake in Webster Financial Co. (NYSE:WBS) by 24.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,391 shares of the financial services provider’s stock after acquiring an additional 1,440 shares during the period. Wedmont Private Capital’s holdings in Webster Financial were worth $334,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rise Advisors LLC bought a new position in shares of Webster Financial in the first quarter valued at approximately $29,000. Hantz Financial Services Inc. acquired a new position in Webster Financial in the second quarter worth approximately $32,000. Mather Group LLC. increased its holdings 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 in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Webster Financial during the 2nd quarter valued at $69,000. Finally, GAMMA Investing LLC lifted its position in shares of Webster Financial by 30.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,629 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 377 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Webster Financial news, insider Jason A. Soto sold 1,650 shares of the company’s stock in a transaction dated 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 directly owns 20,539 shares of the company’s stock, valued at $951,366.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO John R. Ciulla sold 8,000 shares of the company’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 completion of the sale, the chief executive officer now owns 237,049 shares in the company, valued at approximately $11,387,833.96. This represents a 0.00 % decrease in their position. 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 the company’s stock in a transaction dated Wednesday, July 24th. The stock was 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 approximately $951,366.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,650 shares of company stock valued at $706,098 in the last three months. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WBS. Barclays cut 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. Royal Bank of Canada cut their target price on Webster Financial from $54.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Morgan Stanley cut their target price on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. JPMorgan Chase & Co. cut their target price on Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Jefferies Financial Group cut their target price on Webster Financial from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $56.10.

Webster Financial Stock Up 3.9 %

NYSE:WBS opened at $47.86 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. Webster Financial Co. has a 1-year low of $36.36 and a 1-year high of $53.39. The business’s fifty day moving average price is $45.48 and its 200 day moving average price is $45.31. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 0.77 and a beta of 1.28.

Webster Financial (NYSE:WBS) last issued 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 return on equity of 11.81% and a net margin of 19.81%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $671.91 million. During the same period in the previous year, the company earned $1.50 earnings per share. On average, sell-side analysts forecast that Webster Financial Co. will post 5.26 earnings per share for the current fiscal 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 given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend was Monday, July 29th. Webster Financial’s payout ratio is currently 34.86%.

Webster Financial 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.