Oppenheimer Asset Management Inc. Purchases 1,182 Shares of Webster Financial Co. (NYSE:WBS)

Oppenheimer Asset Management Inc. boosted its position in Webster Financial Co. (NYSE:WBS) by 3.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,693 shares of the financial services provider’s stock after purchasing an additional 1,182 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Webster Financial were worth $1,556,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in WBS. Federated Hermes Inc. raised its stake in Webster Financial by 9.0% in the 2nd quarter. Federated Hermes Inc. now owns 22,059 shares of the financial services provider’s stock worth $962,000 after purchasing an additional 1,830 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Webster Financial by 175.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 6,892 shares of the financial services provider’s stock valued at $284,000 after buying an additional 4,390 shares in the last quarter. Qsemble Capital Management LP boosted its stake in shares of Webster Financial by 277.4% in the second quarter. Qsemble Capital Management LP now owns 32,420 shares of the financial services provider’s stock valued at $1,413,000 after buying an additional 23,830 shares during the period. American Century Companies Inc. grew its position in Webster Financial by 12.9% during the second quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock worth $115,096,000 after buying an additional 301,935 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its stake in Webster Financial by 13.5% during the 2nd quarter. Texas Permanent School Fund Corp now owns 170,852 shares of the financial services provider’s stock worth $7,447,000 after acquiring an additional 20,300 shares during the period. Institutional investors own 85.58% of the company’s stock.

Insider Buying and Selling at Webster Financial

In other news, insider Charles L. Wilkins sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $49.07, for a total value of $245,350.00. Following the transaction, the insider now owns 45,157 shares in the company, valued at approximately $2,215,853.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Webster Financial news, insider Jason A. Soto sold 1,650 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total transaction of $76,428.00. Following the completion of the sale, the insider now directly owns 20,539 shares in the company, valued at approximately $951,366.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charles L. Wilkins sold 5,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $49.07, for a total value of $245,350.00. Following the completion of the transaction, the insider now directly owns 45,157 shares in the company, valued at $2,215,853.99. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,650 shares of company stock valued at $706,098. 0.88% of the stock is currently owned by company insiders.

Webster Financial Trading Up 1.8 %

Shares of NYSE WBS opened at $46.79 on Thursday. The firm has a 50 day moving average price of $46.02 and a two-hundred day moving average price of $45.64. The stock has a market cap of $8.02 billion, a P/E ratio of 9.59, a price-to-earnings-growth ratio of 0.67 and a beta of 1.28. Webster Financial Co. has a 52-week low of $36.36 and a 52-week high of $53.39. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 0.85.

Webster Financial (NYSE:WBS) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.08). Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $671.91 million. During the same period in the prior year, the business earned $1.50 earnings per share. As a group, equities analysts forecast that Webster Financial Co. will post 5.27 EPS for the current year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Monday, July 29th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date was Monday, July 29th. Webster Financial’s dividend payout ratio is currently 32.79%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WBS. Morgan Stanley lowered Webster Financial from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $54.00 to $57.00 in a report on Monday, August 5th. Jefferies Financial Group dropped their target price on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods reduced their target price on Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, July 9th. JPMorgan Chase & Co. lowered their price target on Webster Financial from $63.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, June 27th. Finally, Royal Bank of Canada reduced their price objective on Webster Financial from $54.00 to $51.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Webster Financial currently has a consensus rating of “Moderate Buy” and an average price target of $55.36.

About Webster Financial

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.