Ellevest Inc. grew its holdings in shares of Webster Financial Co. (NYSE:WBS – Get Rating) by 28.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,918 shares of the financial services provider's stock after buying an additional 429 shares during the period. Ellevest Inc.'s holdings in Webster Financial were worth $81,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently bought and sold shares of WBS. Geode Capital Management LLC lifted its holdings in Webster Financial by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 1,132,412 shares of the financial services provider's stock worth $63,233,000 after buying an additional 42,496 shares during the last quarter. Gotham Asset Management LLC purchased a new stake in Webster Financial during the 4th quarter worth about $317,000. Credit Suisse AG lifted its holdings in Webster Financial by 9.3% during the 4th quarter. Credit Suisse AG now owns 115,043 shares of the financial services provider's stock worth $6,424,000 after buying an additional 9,807 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in Webster Financial by 3.0% during the 4th quarter. Guggenheim Capital LLC now owns 80,124 shares of the financial services provider's stock worth $4,474,000 after buying an additional 2,367 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Webster Financial in the 4th quarter valued at about $171,000. 85.98% of the stock is owned by hedge funds and other institutional investors.
Get Webster Financial alerts:Insider Buying and Selling
In related news, COO Luis Massiani sold 8,000 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $46.43, for a total value of $371,440.00. Following the transaction, the chief operating officer now directly owns 152,910 shares of the company's stock, valued at approximately $7,099,611.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.85% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on WBS. Wedbush downgraded Webster Financial from an "outperform" rating to a "neutral" rating and set a $50.00 target price for the company. in a report on Thursday, June 30th. Jefferies Financial Group dropped their target price on Webster Financial from $62.00 to $55.00 in a research report on Monday, July 11th. Raymond James dropped their target price on Webster Financial from $73.00 to $57.00 and set a "strong-buy" rating on the stock in a research report on Thursday, July 7th. Compass Point lowered their price target on Webster Financial to $77.00 in a report on Friday, July 22nd. Finally, TheStreet upgraded Webster Financial from a "c+" rating to a "b-" rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Webster Financial has a consensus rating of "Moderate Buy" and a consensus target price of $61.25.Webster Financial Trading Down 1.8 %
Shares of Webster Financial stock opened at $45.18 on Friday. Webster Financial Co. has a fifty-two week low of $40.72 and a fifty-two week high of $65.00. The firm has a market cap of $7.94 billion, a PE ratio of 14.62 and a beta of 1.27. The business's fifty day moving average is $47.05 and its two-hundred day moving average is $48.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.47.
Webster Financial (NYSE:WBS – Get Rating) last issued its quarterly earnings results on Thursday, July 21st. The financial services provider reported $1.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.04. Webster Financial had a return on equity of 11.53% and a net margin of 20.70%. The company had revenue of $607.60 million for the quarter, compared to analyst estimates of $602.36 million. During the same quarter in the prior year, the company posted $1.21 EPS. The business's revenue for the quarter was up 106.9% compared to the same quarter last year. Analysts anticipate that Webster Financial Co. will post 5.48 earnings per share for the current year.
Webster Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 17th. Investors of record on Tuesday, August 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Monday, August 1st. Webster Financial's dividend payout ratio (DPR) is currently 51.78%.
Webster Financial Profile
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Webster Financial Corporation operates as the bank 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 Retail Banking.
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