Quadrant Capital Group LLC raised its position in Webster Financial Co. (NYSE:WBS – Get Rating) by 616.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 852 shares of the financial services provider’s stock after purchasing an additional 733 shares during the quarter. Quadrant Capital Group LLC’s holdings in Webster Financial were worth $48,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Covestor Ltd purchased a new position in shares of Webster Financial in the 4th quarter worth about $28,000. Whittier Trust Co. purchased a new position in shares of Webster Financial in the 1st quarter worth about $32,000. Glassman Wealth Services raised its holdings in shares of Webster Financial by 2,043.8% in the 4th quarter. Glassman Wealth Services now owns 686 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 654 during the period. Community Bank NA purchased a new position in shares of Webster Financial in the 1st quarter worth about $39,000. Finally, Longfellow Investment Management Co. LLC a new stake in shares of Webster Financial during the 4th purchased quarter valued at about $57,000. 45.99% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Webster Financial
In other Webster Financial news, insider Javier L. Evans sold 1,005 shares of Webster Financial stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $47.91, for a total transaction of $48,149.55. Following the sale, the insider now owns 36,904 shares of the company’s stock, valued at approximately $1,768,070.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Webster Financial news, insider Javier L. Evans sold 1,005 shares of Webster Financial stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $47.91, for a total transaction of $48,149.55. Following the sale, the insider now owns 36,904 shares of the company’s stock, valued at approximately $1,768,070.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Luis Massiani sold 8,000 shares of Webster Financial stock in a transaction on Friday, August 5th. The shares were sold at an average price of $46.43, for a total value of $371,440.00. Following the sale, the chief operating officer now directly owns 152,910 shares in the company, valued at approximately $7,099,611.30. The disclosure for this sale can be found here. 1.85% of the stock is owned by company insiders.
Webster Financial Trading Down 0.8%
NYSE: WBS opened at $46.20 on Tuesday. Webster Financial Co. has a 12-month low of $40.72 and a 12-month high of $65.00. The firm has a market capitalization of $8.30 billion, a P/E ratio of 14.95 and a beta of 1.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50 day simple moving average of $45.17 and a 200 day simple moving average of $51.14.
Webster Financial (NYSE:WBS – Get Rating) last released its quarterly earnings data on Thursday, July 21st. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. Webster Financial had a return on equity of 11.53% and a net margin of 20.70%. The business had revenue of $607.60 million during the quarter, compared to analyst estimates of $602.36 million. During the same quarter in the previous year, the firm posted $1.21 EPS. The business’s revenue for the quarter was up 106.9% compared to the same quarter last year. Equities research analysts predict that Webster Financial Co. will post 5.36 EPS for the current year.
Webster Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 17th. Shareholders of record on Tuesday, August 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.46%. The ex-dividend date is Monday, August 1st. Webster Financial’s payout ratio is currently 51.78%.
Analysts Set New Price Targets
Several brokerages recently commented on WBS. TheStreet downgraded Webster Financial from a “b” rating to a “c+” rating in a report on Thursday, April 28th. StockNews.com lowered Webster Financial from a “hold” rating to a “sell” rating in a research note on Monday, May 2nd. Compass Point lowered their objective price on Webster Financial to $77.00 in a research note on Friday, July 22nd. Wedbush lowered Webster Financial from an “outperform” rating to a “neutral” rating and set a $50.00 objective price for the company. in a research note on Thursday, June 30th. Finally, Jefferies Financial Group decreased their target price on Webster Financial from $62.00 to $55.00 in a research report on Monday, July 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $61.25.
Webster Financial Company Profile
Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Retail Banking.
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