Pacer Advisors Inc. bought a new position in shares of Webster Financial Co. (NYSE:WBS) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 36,715 shares of the financial services provider’s stock, valued at approximately $1,754,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in Webster Financial by 9.6% during the 4th quarter. Geode Capital Management LLC now owns 936,640 shares of the financial services provider’s stock worth $46,166,000 after acquiring an additional 82,053 shares during the last quarter. Bank of Montreal Can raised its holdings in Webster Financial by 13.3% in the first quarter. Bank of Montreal Can now owns 10,753 shares of the financial services provider’s stock worth $544,000 after purchasing an additional 1,262 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Webster Financial by 26.9% during the first quarter. Janney Montgomery Scott LLC now owns 21,500 shares of the financial services provider’s stock worth $1,089,000 after purchasing an additional 4,554 shares in the last quarter. Texas Permanent School Fund boosted its position in shares of Webster Financial by 3.8% during the first quarter. Texas Permanent School Fund now owns 62,662 shares of the financial services provider’s stock worth $3,175,000 after purchasing an additional 2,303 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Webster Financial by 8.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 86,984 shares of the financial services provider’s stock valued at $4,407,000 after buying an additional 6,950 shares during the period. Hedge funds and other institutional investors own 88.52% of the company’s stock.
A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of Webster Financial from a “sell” rating to a “hold” rating and set a $49.00 price objective for the company in a research report on Friday, July 5th. Morgan Stanley upgraded Webster Financial from an “underweight” rating to an “equal weight” rating and set a $51.00 target price on the stock in a report on Monday, July 1st. Finally, Boenning Scattergood reissued a “neutral” rating on shares of Webster Financial in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $56.25.
NYSE WBS traded down $0.62 during trading hours on Wednesday, reaching $48.21. 13,516 shares of the company’s stock were exchanged, compared to its average volume of 513,679. The company’s 50-day moving average is $46.80 and its two-hundred day moving average is $49.65. Webster Financial Co. has a one year low of $42.62 and a one year high of $65.28. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 1.44 and a beta of 1.29.
Webster Financial (NYSE:WBS) last announced its earnings results on Thursday, July 18th. The financial services provider reported $1.05 EPS for the quarter, topping the consensus estimate of $1.03 by $0.02. Webster Financial had a net margin of 27.99% and a return on equity of 13.80%. The firm had revenue of $317.60 million for the quarter, compared to the consensus estimate of $312.36 million. During the same period last year, the company posted $0.86 EPS. The business’s quarterly revenue was up 8.2% on a year-over-year basis. Research analysts predict that Webster Financial Co. will post 4.11 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Friday, August 2nd. Webster Financial’s dividend payout ratio is 42.78%.
In related news, EVP Daniel Bley sold 2,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $51.45, for a total transaction of $102,900.00. Following the completion of the transaction, the executive vice president now directly owns 18,654 shares in the company, valued at $959,748.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Joseph Crawford sold 1,000 shares of Webster Financial stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $51.28, for a total value of $51,280.00. Following the completion of the sale, the director now directly owns 15,099 shares in the company, valued at approximately $774,276.72. The disclosure for this sale can be found here. Insiders have sold 4,000 shares of company stock valued at $203,670 in the last three months. 1.53% of the stock is owned by insiders.
About Webster Financial
Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.
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