Covestor Ltd Acquires 276 Shares of Webster Financial Co. (NYSE:WBS)

Covestor Ltd grew its holdings in Webster Financial Co. (NYSE:WBS) by 17.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,895 shares of the financial services provider’s stock after acquiring an additional 276 shares during the quarter. Covestor Ltd’s holdings in Webster Financial were worth $89,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Atria Investments Inc increased its stake in Webster Financial by 3.8% during the 3rd quarter. Atria Investments Inc now owns 21,107 shares of the financial services provider’s stock worth $984,000 after purchasing an additional 772 shares in the last quarter. Tompkins Financial Corp boosted its holdings in shares of Webster Financial by 349.3% in the third quarter. Tompkins Financial Corp now owns 113,508 shares of the financial services provider’s stock valued at $5,291,000 after buying an additional 88,246 shares during the period. Assetmark Inc. increased its position in shares of Webster Financial by 9.3% during the third quarter. Assetmark Inc. now owns 2,611 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 222 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Webster Financial by 37.0% during the third quarter. Verdence Capital Advisors LLC now owns 8,637 shares of the financial services provider’s stock worth $403,000 after acquiring an additional 2,332 shares during the period. Finally, M&G PLC lifted its position in Webster Financial by 9.4% in the 3rd quarter. M&G PLC now owns 207,297 shares of the financial services provider’s stock valued at $9,743,000 after acquiring an additional 17,746 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Insider Transactions at Webster Financial

In related news, Director Mark Pettie sold 4,500 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total value of $230,130.00. Following the sale, the director now owns 32,780 shares in the company, valued at approximately $1,676,369.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Daniel Bley sold 3,463 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $52.10, for a total transaction of $180,422.30. Following the transaction, the insider now owns 19,529 shares in the company, valued at approximately $1,017,460.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Pettie sold 4,500 shares of Webster Financial stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total value of $230,130.00. Following the sale, the director now directly owns 32,780 shares of the company’s stock, valued at approximately $1,676,369.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,100 shares of company stock worth $1,202,237. 0.88% of the stock is owned by company insiders.

Webster Financial Price Performance

Shares of WBS opened at $59.84 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The company’s fifty day simple moving average is $49.16 and its 200 day simple moving average is $46.28. Webster Financial Co. has a 1-year low of $39.33 and a 1-year high of $61.12. The company has a market cap of $10.26 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 0.89 and a beta of 1.27.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The firm had revenue of $647.62 million for the quarter, compared to analyst estimates of $677.72 million. During the same quarter in the prior year, the firm earned $1.55 earnings per share. On average, research analysts forecast that Webster Financial Co. will post 5.24 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were given a $0.40 dividend. The ex-dividend date was Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.67%. Webster Financial’s payout ratio is 36.28%.

Analyst Upgrades and Downgrades

WBS has been the subject of a number of research reports. Morgan Stanley lowered their target price on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, September 30th. JPMorgan Chase & Co. decreased their price objective on Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Wedbush lifted their target price on Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Barclays upped their price target on Webster Financial from $60.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada lifted their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.85.

Webster Financial Profile

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.