Creative Planning Raises Position in Webster Financial Co. (NYSE:WBS)

Creative Planning boosted its position in Webster Financial Co. (NYSE:WBS) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,128 shares of the financial services provider’s stock after purchasing an additional 2,149 shares during the period. Creative Planning’s holdings in Webster Financial were worth $1,618,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC grew its stake in shares of Webster Financial by 17.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,466 shares of the financial services provider’s stock worth $1,597,000 after acquiring an additional 4,659 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Webster Financial in the fourth quarter worth about $1,080,000. Evercore Wealth Management LLC bought a new stake in shares of Webster Financial in the fourth quarter valued at approximately $403,000. Lighthouse Investment Partners LLC purchased a new stake in shares of Webster Financial during the 4th quarter valued at approximately $2,740,000. Finally, Point72 Europe London LLP bought a new position in Webster Financial in the 4th quarter worth approximately $1,964,000. 85.58% of the stock is owned by institutional investors.

Webster Financial Stock Performance

NYSE WBS opened at $45.25 on Tuesday. The company has a market capitalization of $7.76 billion, a P/E ratio of 9.27, a P/E/G ratio of 0.66 and a beta of 1.28. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 0.85. Webster Financial Co. has a 52-week low of $36.36 and a 52-week high of $53.39. The company has a fifty day moving average of $45.58 and a 200-day moving average of $45.38.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $671.91 million. Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. During the same period in the prior year, the business posted $1.50 earnings per share. As a group, equities research analysts predict that Webster Financial Co. will post 5.27 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Monday, July 29th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.54%. Webster Financial’s dividend payout ratio (DPR) is 32.79%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price on Webster Financial from $63.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, June 27th. Morgan Stanley cut their target price on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday, September 30th. Jefferies Financial Group decreased their price target on Webster Financial from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Barclays cut their price objective on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 9th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.40.

Insider Activity at Webster Financial

In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $49.07, for a total transaction of $245,350.00. Following the completion of the sale, the insider now directly owns 45,157 shares in the company, valued at $2,215,853.99. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Charles L. Wilkins sold 5,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $49.07, for a total transaction of $245,350.00. Following the completion of the sale, the insider now owns 45,157 shares of the company’s stock, valued at approximately $2,215,853.99. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction on Monday, July 15th. The stock was sold at an average price of $48.04, for a total transaction of $384,320.00. Following the completion of the transaction, the chief executive officer now directly owns 237,049 shares in the company, valued at approximately $11,387,833.96. 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 90 days, insiders have sold 14,650 shares of company stock valued at $706,098. Insiders own 0.88% of the company’s stock.

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.