ING Groep NV acquired a new stake in Webster Financial Co. (NYSE:WBS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,993 shares of the financial services provider’s stock, valued at approximately $382,000.
Other hedge funds have also made changes to their positions in the company. Coastline Trust Co bought a new position in Webster Financial in the second quarter valued at approximately $209,000. CIBC Asset Management Inc bought a new position in Webster Financial in the second quarter valued at approximately $220,000. GSA Capital Partners LLP bought a new position in Webster Financial in the second quarter valued at approximately $243,000. GWM Advisors LLC bought a new position in Webster Financial in the first quarter valued at approximately $216,000. Finally, BB&T Securities LLC bought a new position in Webster Financial in the first quarter valued at approximately $234,000. 92.19% of the stock is currently owned by hedge funds and other institutional investors.
In other 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 transaction of $97,482.84. Following the transaction, the executive vice president now directly owns 19,329 shares of the company’s stock, valued at $1,282,672.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Charles L. Wilkins sold 3,000 shares of Webster Financial 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 transaction, the executive vice president now directly owns 18,579 shares in the company, 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.
Shares of NYSE WBS opened at $64.29 on Friday. The firm has a market cap of $5.95 billion, a PE ratio of 20.86, a PEG ratio of 2.20 and a beta of 1.13. Webster Financial Co. has a twelve month low of $44.45 and a twelve month high of $69.63. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.
Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Thursday, July 19th. The financial services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.05. The company had revenue of $293.40 million for 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% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share. equities analysts anticipate that Webster Financial Co. will post 3.66 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 20th. Stockholders of record on Monday, August 6th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.05%. Webster Financial’s dividend payout ratio is 50.97%.
WBS has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Webster Financial from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a research note on Tuesday, July 17th. Barclays raised their price objective on shares of Webster Financial from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, July 20th. Wedbush reaffirmed an “outperform” rating on shares of Webster Financial in a research note on Monday, July 16th. Boenning Scattergood reaffirmed a “hold” rating on shares of Webster Financial in a research note on Thursday, July 19th. Finally, ValuEngine raised shares of Webster Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, August 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $63.30.
Webster Financial Company 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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