Webster Financial Co. (NYSE:WBS) Stake Raised by Federated Hermes Inc.

Federated Hermes Inc. raised its holdings in shares of Webster Financial Co. (NYSE:WBS) by 9.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,059 shares of the financial services provider’s stock after acquiring an additional 1,830 shares during the quarter. Federated Hermes Inc.’s holdings in Webster Financial were worth $962,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. DekaBank Deutsche Girozentrale grew its position in Webster Financial by 175.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 6,892 shares of the financial services provider’s stock valued at $284,000 after purchasing an additional 4,390 shares in the last quarter. Qsemble Capital Management LP grew its holdings in shares of Webster Financial by 277.4% during the 2nd quarter. Qsemble Capital Management LP now owns 32,420 shares of the financial services provider’s stock valued at $1,413,000 after acquiring an additional 23,830 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Webster Financial by 12.9% in 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 acquiring an additional 301,935 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Webster Financial by 13.5% during the second 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 in the last quarter. Finally, United Services Automobile Association boosted its position in Webster Financial by 7.3% during the second quarter. United Services Automobile Association now owns 13,987 shares of the financial services provider’s stock valued at $610,000 after purchasing an additional 950 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Trading Down 0.7 %

Shares of Webster Financial stock opened at $48.03 on Friday. The company’s fifty day moving average price is $46.12 and its two-hundred day moving average price is $45.65. The firm has a market capitalization of $8.24 billion, a PE ratio of 9.84, 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 current ratio of 0.85 and a quick ratio of 0.85.

Webster Financial (NYSE:WBS) last posted its quarterly 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). The business had revenue of $1.02 billion during 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 period last year, the company earned $1.50 EPS. On average, analysts expect that Webster Financial Co. will post 5.27 EPS for the current year.

Webster Financial Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Monday, July 29th. Webster Financial’s dividend payout ratio is 32.79%.

Analysts Set New Price Targets

WBS has been the subject of a number of recent research reports. Royal Bank of Canada cut their price target on Webster Financial from $54.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Jefferies Financial Group cut their price objective on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Barclays dropped their price target 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 reduced their price objective on shares of 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. decreased their price objective on shares of Webster Financial from $63.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, June 27th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.36.

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 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 sale, 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 Charles L. Wilkins sold 5,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $49.07, for a total transaction of $245,350.00. Following the sale, the insider now directly owns 45,157 shares of the company’s stock, valued at $2,215,853.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jason A. Soto sold 1,650 shares of Webster Financial stock in a transaction that occurred 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 of the company’s stock, valued at approximately $951,366.48. The disclosure for this sale can be found here. Insiders have sold 14,650 shares of company stock worth $706,098 over the last three months. Company insiders own 0.88% of the company’s stock.

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.