Wedmont Private Capital Purchases 367 Shares of Webster Financial Co. (NYSE:WBS)

Wedmont Private Capital raised its position in shares of Webster Financial Co. (NYSE:WBS) by 6.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,054 shares of the financial services provider’s stock after acquiring an additional 367 shares during the quarter. Wedmont Private Capital’s holdings in Webster Financial were worth $294,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. DekaBank Deutsche Girozentrale boosted its position in shares of Webster Financial by 1.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 19,924 shares of the financial services provider’s stock worth $785,000 after purchasing an additional 263 shares in the last quarter. Kestra Advisory Services LLC boosted its position in shares of Webster Financial by 15.7% during the 3rd quarter. Kestra Advisory Services LLC now owns 13,022 shares of the financial services provider’s stock worth $525,000 after purchasing an additional 1,766 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of Webster Financial during the 3rd quarter worth about $427,000. Envestnet Asset Management Inc. boosted its position in shares of Webster Financial by 58.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 319,379 shares of the financial services provider’s stock worth $12,874,000 after purchasing an additional 117,437 shares in the last quarter. Finally, Aigen Investment Management LP boosted its position in shares of Webster Financial by 56.4% during the 3rd quarter. Aigen Investment Management LP now owns 8,484 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 3,058 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada cut their price objective on shares of Webster Financial from $57.00 to $54.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods lowered their target price on shares of Webster Financial from $64.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Citigroup lowered their target price on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Raymond James restated an “outperform” rating and issued a $60.00 target price on shares of Webster Financial in a report on Tuesday, March 26th. Finally, StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Webster Financial has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Insider Transactions at Webster Financial

In other news, insider Daniel Bley sold 2,280 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $44.80, for a total transaction of $102,144.00. Following the completion of the sale, the insider now owns 28,693 shares in the company, valued at approximately $1,285,446.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.88% of the stock is currently owned by company insiders.

Webster Financial Trading Down 0.1 %

NYSE:WBS opened at $40.86 on Friday. The firm has a 50-day moving average price of $44.00 and a two-hundred day moving average price of $47.29. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.86 and a current ratio of 0.86. Webster Financial Co. has a 52 week low of $36.22 and a 52 week high of $53.39. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 8.37, a price-to-earnings-growth ratio of 0.50 and a beta of 1.31.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.02). Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The company had revenue of $667.10 million for the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter in the previous year, the business earned $1.49 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts expect that Webster Financial Co. will post 5.57 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, May 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.92%. Webster Financial’s payout ratio is currently 32.79%.

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.