Peregrine Capital Management LLC boosted its position in Webster Financial Co. (NYSE:WBS) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 196,730 shares of the financial services provider’s stock after acquiring an additional 2,890 shares during the quarter. Peregrine Capital Management LLC’s holdings in Webster Financial were worth $5,628,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in WBS. Tower Research Capital LLC TRC increased its stake in Webster Financial by 125,100.0% in the first quarter. Tower Research Capital LLC TRC now owns 1,252 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 1,251 shares during the last quarter. Twin Tree Management LP bought a new stake in shares of Webster Financial during the first quarter worth $30,000. Acadian Asset Management LLC grew its stake in shares of Webster Financial by 127.3% during the first quarter. Acadian Asset Management LLC now owns 1,366 shares of the financial services provider’s stock worth $32,000 after buying an additional 765 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Webster Financial during the fourth quarter worth $62,000. Finally, Private Capital Group LLC grew its stake in shares of Webster Financial by 15.9% during the first quarter. Private Capital Group LLC now owns 6,752 shares of the financial services provider’s stock worth $155,000 after buying an additional 927 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director William L. Atwell bought 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average price of $20.16 per share, for a total transaction of $50,400.00. Following the completion of the acquisition, the director now directly owns 33,709 shares in the company, valued at $679,573.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Glenn I. Macinnes bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average price of $21.34 per share, for a total transaction of $106,700.00. Following the acquisition, the chief financial officer now owns 115,502 shares of the company’s stock, valued at $2,464,812.68. The disclosure for this purchase can be found here. 1.46% of the stock is owned by insiders.
A number of analysts have weighed in on WBS shares. Wells Fargo & Co reaffirmed a “buy” rating and set a $29.00 target price (up previously from $27.00) on shares of Webster Financial in a research note on Tuesday, July 7th. Royal Bank of Canada started coverage on shares of Webster Financial in a research note on Wednesday, June 24th. They set an “outperform” rating and a $37.00 target price on the stock. ValuEngine cut shares of Webster Financial from a “hold” rating to a “sell” rating in a research note on Friday, May 1st. Raymond James raised shares of Webster Financial from a “market perform” rating to a “strong-buy” rating and set a $34.00 target price on the stock in a research note on Monday, April 6th. Finally, Compass Point cut shares of Webster Financial from a “buy” rating to a “neutral” rating and set a $24.00 price objective on the stock. in a research note on Wednesday, April 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $36.44.
Shares of Webster Financial stock opened at $27.27 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.36. Webster Financial Co. has a twelve month low of $18.16 and a twelve month high of $54.04. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of 9.18 and a beta of 1.71. The company’s fifty day moving average is $27.30 and its 200 day moving average is $31.80.
Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.03. The company had revenue of $284.48 million for the quarter, compared to analysts’ expectations of $298.68 million. Webster Financial had a net margin of 20.01% and a return on equity of 9.30%. During the same quarter in the previous year, the firm posted $1.05 earnings per share. As a group, equities analysts anticipate that Webster Financial Co. will post 2.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $1.60 annualized dividend and a yield of 5.87%. Webster Financial’s payout ratio is 39.31%.
About Webster Financial
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.
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