Grandeur Peak Global Advisors LLC grew its holdings in shares of Webster Financial Co. (NYSE:WBS) by 336.1% in the 2nd quarter, Holdings Channel reports. The fund owned 28,675 shares of the financial services provider’s stock after purchasing an additional 22,100 shares during the period. Grandeur Peak Global Advisors LLC’s holdings in Webster Financial were worth $1,827,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in WBS. Coastline Trust Co bought a new position in Webster Financial during the second quarter worth $209,000. CIBC Asset Management Inc bought a new position in Webster Financial during the second quarter worth $220,000. GSA Capital Partners LLP bought a new position in Webster Financial during the second quarter worth $243,000. GWM Advisors LLC bought a new position in Webster Financial during the first quarter worth $216,000. Finally, BB&T Securities LLC bought a new position in Webster Financial during the first quarter worth $234,000. 92.19% of the stock is owned by hedge funds and other institutional investors.
NYSE:WBS opened at $64.29 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of 24.82, a P/E/G ratio of 2.20 and a beta of 1.13. Webster Financial Co. has a 12 month low of $44.45 and a 12 month high of $69.63.
Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Thursday, July 19th. The financial services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.05. The business had revenue of $293.40 million during the quarter, compared to analysts’ expectations of $291.53 million. Webster Financial had a net margin of 23.85% and a return on equity of 11.46%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the company posted $0.64 earnings per share. research analysts anticipate that Webster Financial Co. will post 3.66 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 20th. Shareholders of record on Monday, August 6th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Friday, August 3rd. Webster Financial’s payout ratio is 50.97%.
A number of equities analysts recently weighed in on the stock. ValuEngine raised shares of Webster Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, August 8th. Morgan Stanley lifted their target price on shares of Webster Financial from $61.00 to $62.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 24th. Barclays lifted their target price on shares of Webster Financial from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, July 20th. Boenning Scattergood reissued a “hold” rating on shares of Webster Financial in a research note on Thursday, July 19th. Finally, Zacks Investment Research raised shares of Webster Financial from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research note on Tuesday, July 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $63.30.
In other Webster Financial news, EVP Daniel Bley sold 1,469 shares of the firm’s 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 sale, the executive vice president now directly owns 19,329 shares in the company, valued at $1,282,672.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Charles L. Wilkins sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 25th. The stock was sold at an average price of $67.51, for a total transaction of $202,530.00. Following the completion of the sale, the executive vice president now owns 18,579 shares of the company’s stock, valued at $1,254,268.29. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
Webster Financial Profile
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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