Pathstone Holdings LLC Purchases 5,993 Shares of Webster Financial Co. (NYSE:WBS)

Pathstone Holdings LLC raised its position in shares of Webster Financial Co. (NYSE:WBS) by 8.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,342 shares of the financial services provider’s stock after purchasing an additional 5,993 shares during the period. Pathstone Holdings LLC’s holdings in Webster Financial were worth $3,652,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in WBS. O Shaughnessy Asset Management LLC boosted its stake in shares of Webster Financial by 25.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 5,792 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 1,180 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Webster Financial by 0.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 109,811 shares of the financial services provider’s stock valued at $5,572,000 after acquiring an additional 631 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Webster Financial by 1.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,237,482 shares of the financial services provider’s stock valued at $316,678,000 after acquiring an additional 95,780 shares during the period. Tidal Investments LLC raised its position in shares of Webster Financial by 11.3% in the 1st quarter. Tidal Investments LLC now owns 10,559 shares of the financial services provider’s stock worth $536,000 after acquiring an additional 1,069 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Webster Financial during the 1st quarter worth $1,169,000. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Javier L. Evans sold 10,137 shares of Webster Financial stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $57.41, for a total value of $581,965.17. Following the sale, the insider now owns 22,657 shares of the company’s stock, valued at approximately $1,300,738.37. This trade represents a 30.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $52.43, for a total transaction of $209,720.00. Following the completion of the sale, the chief accounting officer now directly owns 14,273 shares of the company’s stock, valued at approximately $748,333.39. The trade was a 21.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,750 shares of company stock worth $2,074,367. Company insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on WBS. StockNews.com lowered Webster Financial from a “hold” rating to a “sell” rating in a research note on Monday, November 18th. Wells Fargo & Company boosted their price objective on shares of Webster Financial from $50.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. lowered their target price on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Wedbush upped their price target on Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Morgan Stanley lowered their price objective on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Webster Financial currently has a consensus rating of “Moderate Buy” and an average price target of $57.85.

Webster Financial Price Performance

Shares of WBS opened at $61.76 on Monday. The business’s 50-day moving average is $51.40 and its two-hundred day moving average is $47.04. The company has a market capitalization of $10.59 billion, a P/E ratio of 14.00, a P/E/G ratio of 0.91 and a beta of 1.27. Webster Financial Co. has a fifty-two week low of $39.33 and a fifty-two week high of $61.86. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86.

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

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st were issued a $0.40 dividend. The ex-dividend date was Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a yield of 2.59%. Webster Financial’s payout ratio is 36.28%.

About Webster Financial

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.