Engineers Gate Manager LP purchased a new position in shares of Webster Financial Co. (NYSE:WBS) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 43,780 shares of the financial services provider’s stock, valued at approximately $2,459,000.
A number of other hedge funds have also modified their holdings of WBS. GSA Capital Partners LLP acquired a new stake in Webster Financial during the third quarter worth $202,000. Advisor Group Inc. increased its stake in Webster Financial by 13.3% during the second quarter. Advisor Group Inc. now owns 4,038 shares of the financial services provider’s stock worth $211,000 after acquiring an additional 474 shares during the last quarter. Flinton Capital Management LLC increased its stake in Webster Financial by 42.1% during the second quarter. Flinton Capital Management LLC now owns 4,480 shares of the financial services provider’s stock worth $234,000 after acquiring an additional 1,328 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in Webster Financial during the fourth quarter worth $264,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Webster Financial by 39.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,788 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 1,353 shares during the last quarter. Institutional investors own 94.75% of the company’s stock.
Several research firms have issued reports on WBS. Zacks Investment Research raised Webster Financial from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Wednesday, December 20th. Boenning Scattergood reaffirmed a “hold” rating on shares of Webster Financial in a research note on Wednesday, January 24th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $63.00 price objective on shares of Webster Financial in a research note on Friday, October 20th. Barclays set a $55.00 target price on Webster Financial and gave the company a “hold” rating in a report on Friday, October 20th. Finally, Sandler O’Neill reiterated a “hold” rating and issued a $60.00 target price on shares of Webster Financial in a report on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $59.82.
Shares of Webster Financial Co. (NYSE:WBS) traded down $0.02 during mid-day trading on Tuesday, reaching $53.58. The company had a trading volume of 41,121 shares, compared to its average volume of 543,441. The firm has a market cap of $4,917.27, a PE ratio of 20.00, a PEG ratio of 1.98 and a beta of 1.15. Webster Financial Co. has a 1 year low of $44.04 and a 1 year high of $60.32. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82.
Webster Financial (NYSE:WBS) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.06. Webster Financial had a return on equity of 9.91% and a net margin of 21.77%. The company had revenue of $270.97 million for the quarter, compared to analysts’ expectations of $269.64 million. During the same quarter in the previous year, the firm posted $0.60 EPS. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. equities research analysts predict that Webster Financial Co. will post 3.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Monday, February 12th. Webster Financial’s dividend payout ratio (DPR) is 39.10%.
In related news, EVP Daniel Bley sold 2,917 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $58.27, for a total value of $169,973.59. Following the sale, the executive vice president now owns 19,804 shares of the company’s stock, valued at approximately $1,153,979.08. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark Pettie sold 3,291 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $56.34, for a total value of $185,414.94. Following the transaction, the director now directly owns 16,405 shares in the company, valued at approximately $924,257.70. The disclosure for this sale can be found here. Insiders have sold a total of 11,272 shares of company stock worth $629,959 in the last three months. Corporate insiders own 2.20% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Engineers Gate Manager LP Buys Shares of 43,780 Webster Financial Co. (NYSE:WBS)” was originally posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece on another domain, it was stolen and republished in violation of United States and international copyright laws. The correct version of this piece can be viewed at https://www.dispatchtribunal.com/2018/02/13/engineers-gate-manager-lp-takes-position-in-webster-financial-co-wbs.html.
Webster Financial Company Profile
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, which includes government and institutional banking.
Receive News & Ratings for Webster Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Webster Financial and related companies with MarketBeat.com's FREE daily email newsletter.