Perigon Wealth Management LLC Acquires New Holdings in Webster Financial Co. (NYSE:WBS)

Perigon Wealth Management LLC acquired a new stake in shares of Webster Financial Co. (NYSE:WBS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,116 shares of the financial services provider’s stock, valued at approximately $238,000.

A number of other institutional investors have also recently bought and sold shares of WBS. V Square Quantitative Management LLC acquired a new position in Webster Financial during the third quarter valued at approximately $27,000. UMB Bank n.a. grew its holdings in Webster Financial by 340.7% during the third quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 460 shares during the period. Brooklyn Investment Group acquired a new position in shares of Webster Financial in the third quarter valued at approximately $53,000. NBC Securities Inc. boosted its holdings in shares of Webster Financial by 117.9% in the third quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock valued at $59,000 after buying an additional 686 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Webster Financial by 45.9% in the third quarter. First Horizon Advisors Inc. now owns 1,398 shares of the financial services provider’s stock valued at $65,000 after buying an additional 440 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Trading Down 0.1 %

WBS stock opened at $60.09 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 0.84. The company’s 50-day simple moving average is $57.98 and its 200 day simple moving average is $52.08. Webster Financial Co. has a 52 week low of $39.33 and a 52 week high of $63.99. The company has a market capitalization of $10.30 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.06 and a beta of 1.30.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Friday, January 17th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.08. The firm had revenue of $661.00 million for the quarter, compared to the consensus estimate of $687.53 million. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. During the same period in the prior year, the company posted $1.46 earnings per share. As a group, sell-side analysts anticipate that Webster Financial Co. will post 5.84 earnings per share for the current year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 10th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.60 dividend on an annualized basis and a yield of 2.66%. Webster Financial’s payout ratio is 36.61%.

Insiders Place Their Bets

In other news, insider Daniel Bley sold 500 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $61.91, for a total value of $30,955.00. Following the sale, the insider now directly owns 17,279 shares in the company, valued at approximately $1,069,742.89. This trade represents a 2.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $59.33, for a total transaction of $474,640.00. Following the completion of the sale, the chief executive officer now owns 218,924 shares in the company, valued at approximately $12,988,760.92. The trade was a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,287 shares of company stock worth $1,485,050 over the last ninety days. Corporate insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

WBS has been the subject of several research analyst reports. Stephens set a $58.00 price target on shares of Webster Financial in a report on Thursday, October 17th. Barclays increased their target price on shares of Webster Financial from $63.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a report on Saturday, January 11th. JPMorgan Chase & Co. reduced their target price on shares of Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, UBS Group started coverage on shares of Webster Financial in a report on Tuesday, December 17th. They set a “buy” rating and a $76.00 target price for the company. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $62.08.

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.