Webster Financial Co. (NYSE:WBS) Stock Position Increased by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its stake in shares of Webster Financial Co. (NYSE:WBS) by 24.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,196 shares of the financial services provider’s stock after purchasing an additional 1,023 shares during the period. Park Avenue Securities LLC’s holdings in Webster Financial were worth $264,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rise Advisors LLC acquired a new stake in shares of Webster Financial during the first quarter worth $29,000. Spire Wealth Management raised its position in shares of Webster Financial by 79.1% during the fourth quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 268 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of Webster Financial during the fourth quarter worth $42,000. Principal Securities Inc. purchased a new position in shares of Webster Financial during the fourth quarter valued at $45,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Webster Financial by 29.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock valued at $57,000 after buying an additional 255 shares in the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 2,280 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $44.80, for a total value of $102,144.00. Following the completion of the transaction, the insider now owns 28,693 shares of the company’s stock, valued at approximately $1,285,446.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WBS. Royal Bank of Canada lowered their price target on Webster Financial from $57.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Raymond James reiterated an “outperform” rating and set a $60.00 price target on shares of Webster Financial in a report on Tuesday, March 26th. JPMorgan Chase & Co. lowered their price target on Webster Financial from $63.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Finally, Barclays lowered their target price on Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Webster Financial currently has a consensus rating of “Moderate Buy” and an average target price of $56.17.

Webster Financial Price Performance

NYSE WBS opened at $44.26 on Tuesday. Webster Financial Co. has a twelve month low of $36.36 and a twelve month high of $53.39. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $7.59 billion, a PE ratio of 9.07, a P/E/G ratio of 0.53 and a beta of 1.31. The stock has a 50-day simple moving average of $43.59 and a 200 day simple moving average of $47.02.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The business had revenue of $667.10 million for the quarter, compared to analyst estimates of $680.72 million. During the same period in the prior year, the firm posted $1.49 EPS. Webster Financial’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts anticipate that Webster Financial Co. will post 5.56 EPS for the current year.

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were issued a $0.40 dividend. The ex-dividend date was Friday, May 3rd. This represents a $1.60 annualized dividend and a yield of 3.62%. Webster Financial’s dividend payout ratio (DPR) is 32.79%.

Webster Financial Company Profile

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.