HighTower Advisors LLC Acquires 2,032 Shares of Webster Financial Co. (NYSE:WBS)

HighTower Advisors LLC lifted its stake in Webster Financial Co. (NYSE:WBS) by 6.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,978 shares of the financial services provider’s stock after acquiring an additional 2,032 shares during the period. HighTower Advisors LLC’s holdings in Webster Financial were worth $1,488,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in WBS. Dimensional Fund Advisors LP boosted its stake in Webster Financial by 28.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock worth $240,687,000 after purchasing an additional 1,206,575 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Webster Financial by 64.9% in the second quarter. Point72 Asset Management L.P. now owns 1,604,198 shares of the financial services provider’s stock valued at $69,927,000 after acquiring an additional 631,080 shares during the period. Bank of Montreal Can grew its stake in Webster Financial by 182.7% during the third quarter. Bank of Montreal Can now owns 959,180 shares of the financial services provider’s stock valued at $44,496,000 after acquiring an additional 619,934 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Webster Financial during the 3rd quarter worth approximately $22,146,000. Finally, American Century Companies Inc. lifted its stake in Webster Financial by 12.9% in the 2nd quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock worth $115,096,000 after purchasing an additional 301,935 shares in the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Webster Financial Price Performance

WBS stock opened at $58.96 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $10.11 billion, a P/E ratio of 13.37, a P/E/G ratio of 0.87 and a beta of 1.29. The firm’s fifty day moving average is $55.72 and its 200 day moving average is $48.65. Webster Financial Co. has a 52 week low of $39.33 and a 52 week high of $63.99.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The company had revenue of $647.62 million during the quarter, compared to analysts’ expectations of $677.72 million. During the same quarter in the prior year, the firm posted $1.55 EPS. Research analysts predict that Webster Financial Co. will post 5.24 earnings per share for the current year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.60 annualized dividend and a yield of 2.71%. Webster Financial’s payout ratio is currently 36.28%.

Analyst Ratings Changes

A number of research firms have recently commented on WBS. StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Wedbush upped their target price on Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Barclays raised their price target on Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Wells Fargo & Company boosted their price objective on Webster Financial from $60.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley lowered their target price on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Webster Financial has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

Insider Activity

In related news, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $59.33, for a total transaction of $474,640.00. Following the transaction, the chief executive officer now owns 218,924 shares in the company, valued at $12,988,760.92. The trade was a 3.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Javier L. Evans sold 10,137 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $57.41, for a total value of $581,965.17. Following the completion of the sale, the insider now owns 22,657 shares of the company’s stock, valued at approximately $1,300,738.37. This trade represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,250 shares of company stock valued at $2,105,322. 0.88% of the stock is currently owned by company insiders.

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.