Swiss National Bank boosted its stake in Webster Financial Co. (NYSE:WBS) by 3.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 168,100 shares of the financial services provider’s stock after purchasing an additional 5,000 shares during the period. Swiss National Bank’s holdings in Webster Financial were worth $8,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of WBS. Vanguard Group Inc raised its holdings in Webster Financial by 3.3% during the third quarter. Vanguard Group Inc now owns 8,461,192 shares of the financial services provider’s stock worth $498,873,000 after purchasing an additional 270,130 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Webster Financial by 35.8% in the 4th quarter. Rhumbline Advisers now owns 249,675 shares of the financial services provider’s stock valued at $12,306,000 after acquiring an additional 65,757 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of Webster Financial by 7.5% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 80,034 shares of the financial services provider’s stock valued at $3,945,000 after acquiring an additional 5,600 shares during the period. Dupont Capital Management Corp acquired a new position in shares of Webster Financial in the 4th quarter valued at $374,000. Finally, TD Asset Management Inc. increased its holdings in shares of Webster Financial by 11.3% in the 4th quarter. TD Asset Management Inc. now owns 107,671 shares of the financial services provider’s stock valued at $5,307,000 after acquiring an additional 10,900 shares during the period. 90.25% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Daniel Bley sold 4,000 shares of Webster Financial stock in a transaction on Friday, April 26th. The shares were sold at an average price of $52.39, for a total value of $209,560.00. Following the transaction, the executive vice president now directly owns 20,654 shares in the company, valued at approximately $1,082,063.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Joseph Crawford sold 600 shares of Webster Financial stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $53.60, for a total transaction of $32,160.00. Following the completion of the transaction, the director now owns 17,099 shares in the company, valued at $916,506.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,100 shares of company stock worth $321,865. 1.53% of the stock is currently owned by insiders.
Shares of Webster Financial stock opened at $46.26 on Friday. The firm has a market capitalization of $4.22 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 1.38 and a beta of 1.28. Webster Financial Co. has a 12 month low of $43.95 and a 12 month high of $69.63. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.81 and a current ratio of 0.81.
Webster Financial (NYSE:WBS) last announced its earnings results on Thursday, April 18th. The financial services provider reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.05. The business had revenue of $310.20 million for the quarter, compared to analysts’ expectations of $310.46 million. Webster Financial had a net margin of 27.57% and a return on equity of 13.77%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 EPS. As a group, equities research analysts expect that Webster Financial Co. will post 4.16 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 6th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.46%. This is a positive change from Webster Financial’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, May 3rd. Webster Financial’s dividend payout ratio (DPR) is 42.78%.
A number of brokerages have recently commented on WBS. Compass Point began coverage on shares of Webster Financial in a report on Tuesday, May 7th. They issued a “buy” rating on the stock. Boenning Scattergood reaffirmed a “hold” rating on shares of Webster Financial in a report on Monday, April 22nd. Barclays cut their target price on shares of Webster Financial from $68.00 to $62.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. Zacks Investment Research cut shares of Webster Financial from a “buy” rating to a “hold” rating in a report on Tuesday, April 2nd. Finally, ValuEngine cut shares of Webster Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $62.40.
Webster Financial Profile
Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.
Featured Article: Cost of equity and a company’s balance sheet
Want to see what other hedge funds are holding WBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Webster Financial Co. (NYSE:WBS).
Receive News & Ratings for Webster Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Webster Financial and related companies with MarketBeat.com's FREE daily email newsletter.