Artisan Partners Limited Partnership boosted its holdings in shares of Webster Financial Co. (NYSE:WBS) by 1.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,262,960 shares of the financial services provider’s stock after buying an additional 12,272 shares during the quarter. Artisan Partners Limited Partnership owned approximately 1.37% of Webster Financial worth $80,451,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. BlackRock Inc. boosted its stake in Webster Financial by 4.3% in the first quarter. BlackRock Inc. now owns 8,485,535 shares of the financial services provider’s stock valued at $470,098,000 after acquiring an additional 353,365 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Webster Financial by 4.8% during the second quarter. Bank of New York Mellon Corp now owns 2,238,910 shares of the financial services provider’s stock worth $142,619,000 after buying an additional 102,346 shares during the period. American Century Companies Inc. lifted its stake in shares of Webster Financial by 5.0% during the first quarter. American Century Companies Inc. now owns 1,985,210 shares of the financial services provider’s stock worth $109,981,000 after buying an additional 94,100 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Webster Financial by 46.1% during the second quarter. Wells Fargo & Company MN now owns 1,396,777 shares of the financial services provider’s stock worth $88,975,000 after buying an additional 440,873 shares during the period. Finally, Wasatch Advisors Inc. lifted its stake in shares of Webster Financial by 5.5% during the first quarter. Wasatch Advisors Inc. now owns 1,276,713 shares of the financial services provider’s stock worth $70,730,000 after buying an additional 66,840 shares during the period. 92.19% of the stock is currently owned by institutional investors.
In other Webster Financial news, EVP Daniel Bley sold 1,469 shares of Webster Financial stock in a transaction on Monday, July 30th. The shares were sold at an average price of $66.36, for a total value of $97,482.84. Following the completion of the transaction, the executive vice president now owns 19,329 shares of the company’s stock, valued at $1,282,672.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Charles L. Wilkins sold 3,000 shares of Webster Financial stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $67.51, for a total transaction of $202,530.00. Following the completion of the transaction, the executive vice president now directly owns 18,579 shares of the company’s stock, valued at approximately $1,254,268.29. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by insiders.
NYSE WBS opened at $65.31 on Thursday. The firm has a market cap of $6.19 billion, a P/E ratio of 25.22, a price-to-earnings-growth ratio of 2.29 and a beta of 1.14. Webster Financial Co. has a 1 year low of $44.04 and a 1 year high of $69.63. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.82 and a quick ratio of 0.82.
Webster Financial (NYSE:WBS) last posted its earnings results on Thursday, July 19th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.05. The company had revenue of $293.40 million during the quarter, compared to the consensus estimate of $291.53 million. Webster Financial had a net margin of 23.85% and a return on equity of 11.46%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 earnings per share. equities analysts predict that Webster Financial Co. will post 3.66 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 20th. Shareholders of record on Monday, August 6th were issued a $0.33 dividend. The ex-dividend date was Friday, August 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 2.02%. Webster Financial’s payout ratio is 50.97%.
Several equities research analysts have recently commented on WBS shares. Deutsche Bank lifted their price objective on shares of Webster Financial from $61.00 to $64.00 and gave the stock a “hold” rating in a research note on Friday, May 4th. Wells Fargo & Co lifted their price objective on shares of Webster Financial from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Tuesday, June 26th. Zacks Investment Research downgraded shares of Webster Financial from a “buy” rating to a “hold” rating in a research note on Saturday, June 30th. ValuEngine downgraded shares of Webster Financial from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Finally, Boenning Scattergood restated a “neutral” rating on shares of Webster Financial in a research report on Friday, June 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Webster Financial presently has a consensus rating of “Hold” and an average target price of $63.30.
About Webster Financial
Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides financial services to individuals, families, and businesses in the United States. It operates through four segments: Commercial Banking, Community Banking, HSA Bank, and Private Banking.
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