Brown Advisory Inc. grew its stake in Webster Financial Co. (NYSE:WBS) by 70.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 947,929 shares of the financial services provider’s stock after purchasing an additional 393,202 shares during the quarter. Brown Advisory Inc.’s holdings in Webster Financial were worth $53,237,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in shares of Webster Financial in the 3rd quarter valued at about $202,000. Fox Run Management L.L.C. acquired a new stake in shares of Webster Financial in the 4th quarter valued at about $264,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Webster Financial by 39.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,788 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 1,353 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in shares of Webster Financial in the 4th quarter valued at about $271,000. Finally, State of Alaska Department of Revenue acquired a new stake in Webster Financial during the fourth quarter worth about $303,000. Institutional investors and hedge funds own 96.15% of the company’s stock.
In other Webster Financial news, EVP Daniel Bley sold 2,917 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $58.27, for a total value of $169,973.59. Following the completion of the transaction, the executive vice president now owns 19,804 shares in the company, valued at approximately $1,153,979.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Joel S. Becker sold 5,064 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $54.22, for a total transaction of $274,570.08. Following the completion of the transaction, the director now owns 58,283 shares of the company’s stock, valued at approximately $3,160,104.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,272 shares of company stock valued at $629,959. 2.20% of the stock is owned by insiders.
Webster Financial Co. (WBS) opened at $55.54 on Friday. Webster Financial Co. has a 1 year low of $44.04 and a 1 year high of $60.32. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. The company has a market cap of $5,213.84, a PE ratio of 20.88, a price-to-earnings-growth ratio of 2.10 and a beta of 1.15.
Webster Financial (NYSE:WBS) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.67 by $0.06. Webster Financial had a net margin of 21.77% and a return on equity of 9.91%. The firm had revenue of $270.97 million during the quarter, compared to analysts’ expectations of $269.64 million. During the same quarter in the prior year, the firm earned $0.60 EPS. Webster Financial’s quarterly revenue was up 5.9% on a year-over-year basis. sell-side analysts forecast that Webster Financial Co. will post 3.37 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.87%. The ex-dividend date is Monday, February 12th. Webster Financial’s dividend payout ratio (DPR) is 39.10%.
Several equities research analysts recently weighed in on WBS shares. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $71.00 price objective on shares of Webster Financial in a research note on Friday, December 22nd. Zacks Investment Research upgraded shares of Webster Financial from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Wednesday, December 20th. ValuEngine lowered shares of Webster Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Deutsche Bank increased their price objective on shares of Webster Financial from $51.00 to $53.00 and gave the stock a “hold” rating in a research note on Wednesday, November 8th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Webster Financial in a research note on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $59.82.
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Webster Financial 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.
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