Thrivent Financial for Lutherans boosted its stake in Webster Financial Co. (NYSE:WBS) by 9.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,670 shares of the financial services provider’s stock after buying an additional 1,320 shares during the period. Thrivent Financial for Lutherans’ holdings in Webster Financial were worth $851,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. NBW Capital LLC boosted its position in shares of Webster Financial by 111.1% in the third quarter. NBW Capital LLC now owns 75,596 shares of the financial services provider’s stock valued at $2,873,000 after buying an additional 39,780 shares during the period. Icon Advisers Inc. Co. boosted its position in shares of Webster Financial by 11.3% in the third quarter. Icon Advisers Inc. Co. now owns 10,800 shares of the financial services provider’s stock valued at $411,000 after buying an additional 1,100 shares during the period. US Bancorp DE boosted its position in shares of Webster Financial by 19.7% in the third quarter. US Bancorp DE now owns 4,034 shares of the financial services provider’s stock valued at $154,000 after buying an additional 663 shares during the period. TD Asset Management Inc. boosted its position in shares of Webster Financial by 29.8% in the third quarter. TD Asset Management Inc. now owns 20,471 shares of the financial services provider’s stock valued at $778,000 after buying an additional 4,700 shares during the period. Finally, State Treasurer State of Michigan boosted its position in shares of Webster Financial by 0.3% in the third quarter. State Treasurer State of Michigan now owns 36,850 shares of the financial services provider’s stock valued at $1,401,000 after buying an additional 100 shares during the period. 96.12% of the stock is owned by institutional investors and hedge funds.
Shares of Webster Financial Co. (NYSE:WBS) opened at 49.77 on Monday. The stock has a 50 day moving average of $54.04 and a 200-day moving average of $48.05. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 23.04 and a beta of 1.28. Webster Financial Co. has a 52 week low of $31.29 and a 52 week high of $57.50.
Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Thursday, January 19th. The financial services provider reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. The firm had revenue of $255.90 million for the quarter, compared to analysts’ expectations of $183.81 million. Webster Financial had a net margin of 19.18% and a return on equity of 8.82%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share. On average, analysts anticipate that Webster Financial Co. will post $2.40 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Tuesday, February 14th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.01%. This is a boost from Webster Financial’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 10th. Webster Financial’s dividend payout ratio is presently 45.87%.
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Several research analysts have issued reports on the stock. Zacks Investment Research cut shares of Webster Financial from a “buy” rating to a “hold” rating in a report on Wednesday, March 8th. Wells Fargo & Co cut shares of Webster Financial from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 31st. Finally, FBR & Co reaffirmed a “hold” rating and issued a $54.00 target price on shares of Webster Financial in a report on Friday, January 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Webster Financial has an average rating of “Hold” and a consensus target price of $42.69.
In other Webster Financial news, Director John Joseph Crawford sold 5,000 shares of the stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $51.47, for a total transaction of $257,350.00. Following the transaction, the director now directly owns 10,505 shares in the company, valued at approximately $540,692.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gregory Madar sold 2,500 shares of the stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $51.89, for a total transaction of $129,725.00. Following the transaction, the insider now owns 9,644 shares in the company, valued at $500,427.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 217,823 shares of company stock worth $11,750,021. 2.59% of the stock is owned by company insiders.
About Webster Financial
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions.
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