Fred Alger Management Inc. purchased a new stake in shares of Webster Financial Co. (NYSE:WBS) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 8,163 shares of the financial services provider’s stock, valued at approximately $458,000.
A number of other large investors have also recently modified their holdings of WBS. GSA Capital Partners LLP bought a new position in Webster Financial during the 3rd quarter valued at about $202,000. Fox Run Management L.L.C. purchased a new stake in Webster Financial in the 4th quarter valued at about $264,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in 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 buying an additional 1,353 shares during the period. SeaCrest Wealth Management LLC purchased a new stake in Webster Financial in the 4th quarter valued at about $271,000. Finally, Quadrature Capital Ltd purchased a new stake in Webster Financial in the 4th quarter valued at about $289,000. Institutional investors own 94.63% of the company’s stock.
In related news, Director Mark Pettie sold 3,291 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $56.34, for a total transaction of $185,414.94. Following the completion of the sale, the director now owns 16,405 shares of the company’s stock, valued at $924,257.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daniel Bley sold 2,917 shares of the stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $58.27, for a total transaction of $169,973.59. Following the sale, the executive vice president now directly owns 19,804 shares of the company’s stock, valued at approximately $1,153,979.08. The disclosure for this sale can be found here. Insiders sold a total of 11,272 shares of company stock valued at $629,959 in the last ninety days. Corporate insiders own 2.20% of the company’s stock.
Shares of Webster Financial Co. (NYSE WBS) opened at $56.77 on Thursday. Webster Financial Co. has a 52-week low of $44.04 and a 52-week high of $60.32. The firm has a market cap of $5,327.70, a P/E ratio of 22.42, a PEG ratio of 2.15 and a beta of 1.14. 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 announced its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.73 earnings per share 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 company earned $0.60 EPS. The company’s revenue was up 5.9% compared to the same quarter last year. research analysts expect that Webster Financial Co. will post 3.37 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $1.04 annualized dividend and a dividend yield of 1.83%. Webster Financial’s payout ratio is presently 39.10%.
Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Webster Financial from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Zacks Investment Research cut shares of Webster Financial from a “buy” rating to a “hold” rating and set a $63.00 price objective for the company. in a research report on Saturday, January 6th. Boenning Scattergood reissued a “hold” rating on shares of Webster Financial in a research report on Wednesday, January 24th. Sandler O’Neill reissued a “hold” rating and issued a $60.00 price objective on shares of Webster Financial in a research report on Tuesday, January 23rd. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $56.00 price objective on shares of Webster Financial in a research report on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target 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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