Nisa Investment Advisors LLC lowered its stake in Webster Financial Corporation (NYSE:WBS) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,500 shares of the financial services provider’s stock after selling 500 shares during the period. Nisa Investment Advisors LLC’s holdings in Webster Financial Corporation were worth $722,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in WBS. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Webster Financial Corporation by 18.6% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,185 shares of the financial services provider’s stock valued at $155,000 after buying an additional 500 shares in the last quarter. Flinton Capital Management LLC raised its position in Webster Financial Corporation by 20.9% in the first quarter. Flinton Capital Management LLC now owns 3,152 shares of the financial services provider’s stock valued at $158,000 after buying an additional 544 shares during the period. Sky Investment Group LLC bought a new position in Webster Financial Corporation during the second quarter valued at $200,000. HighTower Advisors LLC bought a new position in Webster Financial Corporation during the first quarter valued at $215,000. Finally, Meadow Creek Investment Management LLC raised its position in Webster Financial Corporation by 20.9% in the first quarter. Meadow Creek Investment Management LLC now owns 4,334 shares of the financial services provider’s stock valued at $217,000 after buying an additional 748 shares during the period. Institutional investors and hedge funds own 97.67% of the company’s stock.
Webster Financial Corporation (WBS) opened at 46.50 on Friday. The stock has a 50 day moving average price of $51.56 and a 200 day moving average price of $51.64. The firm has a market capitalization of $4.28 billion, a P/E ratio of 19.38 and a beta of 1.25. Webster Financial Corporation has a one year low of $36.96 and a one year high of $57.50.
Webster Financial Corporation (NYSE:WBS) last released its quarterly earnings results on Friday, July 21st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.04. The firm had revenue of $262.50 million during the quarter, compared to the consensus estimate of $260.91 million. Webster Financial Corporation had a net margin of 20.43% and a return on equity of 9.49%. During the same quarter last year, the firm earned $0.53 earnings per share. On average, equities analysts predict that Webster Financial Corporation will post $2.55 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 7th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, August 3rd. Webster Financial Corporation’s payout ratio is currently 43.33%.
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WBS has been the topic of several recent research reports. Keefe, Bruyette & Woods restated a “buy” rating and set a $58.00 target price on shares of Webster Financial Corporation in a report on Friday, April 21st. Barclays PLC raised their target price on Webster Financial Corporation from $50.00 to $52.00 and gave the company an “equal weight” rating in a report on Tuesday, April 25th. Jefferies Group LLC set a $53.00 target price on Webster Financial Corporation and gave the company a “hold” rating in a report on Saturday, May 6th. BidaskClub upgraded Webster Financial Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Finally, Wedbush reiterated an “outperform” rating and issued a $60.00 price objective on shares of Webster Financial Corporation in a research note on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $53.00.
In other news, EVP Daniel Bley sold 8,000 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $51.20, for a total transaction of $409,600.00. Following the completion of the transaction, the executive vice president now owns 25,657 shares of the company’s stock, valued at $1,313,638.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nitin J. Mhatre sold 31,940 shares of Webster Financial Corporation stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $51.34, for a total transaction of $1,639,799.60. Following the transaction, the executive vice president now directly owns 23,120 shares of the company’s stock, valued at approximately $1,186,980.80. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.
Webster Financial Corporation Company Profile
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.
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