Intech Investment Management LLC Makes New Investment in Webster Financial Co. (NYSE:WBS)

Intech Investment Management LLC purchased a new stake in Webster Financial Co. (NYSE:WBS) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 42,098 shares of the financial services provider’s stock, valued at approximately $1,835,000.

Other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets lifted its holdings in Webster Financial by 156.5% in the first quarter. BNP Paribas Financial Markets now owns 96,052 shares of the financial services provider’s stock valued at $4,877,000 after acquiring an additional 58,602 shares during the period. Sound Income Strategies LLC grew its position in Webster Financial by 1,859.1% during the second quarter. Sound Income Strategies LLC now owns 15,692 shares of the financial services provider’s stock worth $684,000 after buying an additional 14,891 shares during the period. Jupiter Asset Management Ltd. purchased a new position in Webster Financial in the first quarter valued at about $3,529,000. Franklin Resources Inc. lifted its position in shares of Webster Financial by 33.4% during the 4th quarter. Franklin Resources Inc. now owns 119,730 shares of the financial services provider’s stock valued at $6,077,000 after acquiring an additional 29,956 shares during the period. Finally, Groupama Asset Managment purchased a new stake in shares of Webster Financial during the 4th quarter worth approximately $20,471,000. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Webster Financial Stock Down 1.2 %

Shares of NYSE WBS opened at $47.43 on Tuesday. The firm has a market cap of $8.13 billion, a P/E ratio of 9.72, a price-to-earnings-growth ratio of 0.67 and a beta of 1.28. 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 Co. has a 1 year low of $36.36 and a 1 year high of $53.39. The firm’s 50 day moving average price is $46.12 and its 200 day moving average price is $45.61.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data 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). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $671.91 million. Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. During the same quarter last year, the business earned $1.50 EPS. As a group, sell-side analysts anticipate that Webster Financial Co. will post 5.27 earnings per share for the current year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Monday, July 29th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $1.60 annualized dividend and a dividend yield of 3.37%. Webster Financial’s payout ratio is currently 32.79%.

Insider Buying and Selling

In related news, insider Charles L. Wilkins sold 5,000 shares of the company’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 transaction of $245,350.00. Following the completion of the transaction, the insider now owns 45,157 shares of the company’s stock, valued at $2,215,853.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $49.07, for a total transaction of $245,350.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason A. Soto sold 1,650 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total value 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 14,650 shares of company stock valued at $706,098. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Jefferies Financial Group reduced their price objective on Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Barclays lowered their price objective on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Keefe, Bruyette & Woods cut their target price on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, July 9th. Morgan Stanley downgraded shares of Webster Financial from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $54.00 to $57.00 in a report on Monday, August 5th. Finally, Royal Bank of Canada dropped their price objective on shares of Webster Financial from $54.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Webster Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.36.

Webster Financial 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.