Engineers Gate Manager LP Buys Shares of 43,780 Webster Financial Co. (NYSE:WBS)

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.

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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.

Institutional Ownership by Quarter for Webster Financial (NYSE:WBS)

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