Seven Eight Capital LP Buys 28,988 Shares of Webster Financial Co. (NYSE:WBS)

Seven Eight Capital LP increased its stake in shares of Webster Financial Co. (NYSE:WBS) by 298.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,699 shares of the financial services provider’s stock after purchasing an additional 28,988 shares during the quarter. Seven Eight Capital LP’s holdings in Webster Financial were worth $1,687,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Rise Advisors LLC acquired a new position in Webster Financial during the 1st quarter worth $29,000. Hantz Financial Services Inc. bought a new stake in shares of Webster Financial during the second quarter worth $32,000. Principal Securities Inc. acquired a new position in shares of Webster Financial during the fourth quarter valued at $45,000. Mather Group LLC. boosted its holdings in Webster Financial by 7,650.0% in the second quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 1,224 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Webster Financial by 29.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 255 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.

Analysts Set New Price Targets

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

Webster Financial Trading Up 1.8 %

NYSE WBS opened at $46.79 on Thursday. Webster Financial Co. has a one year low of $36.36 and a one year high of $53.39. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market cap of $8.02 billion, a P/E ratio of 9.59, a P/E/G ratio of 0.67 and a beta of 1.28. The stock’s 50-day moving average is $46.02 and its 200-day moving average is $45.64.

Webster Financial (NYSE:WBS) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 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 analyst estimates of $671.91 million. During the same quarter last year, the business posted $1.50 earnings per share. Sell-side analysts anticipate that Webster Financial Co. will post 5.27 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently announced 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 yield of 3.42%. The ex-dividend date was Monday, July 29th. Webster Financial’s payout ratio is presently 32.79%.

Insiders Place Their Bets

In other news, insider Charles L. Wilkins sold 5,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $49.07, for a total value of $245,350.00. Following the sale, the insider now directly owns 45,157 shares in the company, valued at $2,215,853.99. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Jason A. Soto sold 1,650 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total transaction of $76,428.00. Following the completion of the transaction, the insider now owns 20,539 shares in the company, valued at $951,366.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles L. Wilkins sold 5,000 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $49.07, for a total transaction of $245,350.00. Following the completion of the transaction, the insider now directly owns 45,157 shares of the company’s stock, valued at approximately $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 worth $706,098. Corporate insiders own 0.88% of the company’s stock.

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.