Fred Alger Management Inc. purchased a new position in shares of Webster Bank (NYSE:WBS) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 bought and sold shares of WBS. GSA Capital Partners LLP acquired a new position in Webster Bank in the 3rd quarter valued at about $202,000. Fox Run Management L.L.C. acquired a new position in Webster Bank in the 4th quarter valued at about $264,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Webster Bank 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 during the last quarter. SeaCrest Wealth Management LLC acquired a new position in Webster Bank in the 4th quarter valued at about $271,000. Finally, Quadrature Capital Ltd acquired a new position in Webster Bank in the 4th quarter valued at about $289,000. Institutional investors own 94.60% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Webster Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. Boenning Scattergood reissued a “hold” rating on shares of Webster Bank in a research note on Wednesday, January 24th. Sandler O’Neill reissued a “hold” rating and issued a $60.00 price target on shares of Webster Bank in a research note on Tuesday, January 23rd. JPMorgan Chase upped their target price on shares of Webster Bank from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Finally, ValuEngine raised shares of Webster Bank from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $58.58.
NYSE WBS opened at $54.64 on Friday. Webster Bank has a 52 week low of $44.04 and a 52 week 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 $5,166.51, a price-to-earnings ratio of 20.86, a PEG ratio of 2.06 and a beta of 1.08.
Webster Bank (NYSE:WBS) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.06. Webster Bank had a net margin of 21.77% and a return on equity of 9.91%. The business 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 business posted $0.60 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. research analysts expect that Webster Bank will post 3.4 EPS for the current fiscal year.
In related news, Director Joel S. Becker sold 5,064 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $54.22, for a total transaction of $274,570.08. Following the completion of the sale, the director now owns 58,283 shares in the company, valued at approximately $3,160,104.26. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Daniel Bley sold 2,917 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $58.27, for a total transaction 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 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. Company insiders own 2.20% of the company’s stock.
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About Webster Bank
Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides financial services to individuals, families, and businesses in the United States. It operates through four segments: Commercial Banking, Community Banking, HSA Bank, and Private Banking.
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