Webster Financial Co. (NYSE:WBS) Stock Holdings Lifted by King Luther Capital Management Corp

King Luther Capital Management Corp lifted its holdings in Webster Financial Co. (NYSE:WBS) by 14.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 99,210 shares of the financial services provider’s stock after buying an additional 12,543 shares during the quarter. King Luther Capital Management Corp owned approximately 0.06% of Webster Financial worth $4,325,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. CIBC Asset Management Inc lifted its position in Webster Financial by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 248 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Webster Financial by 29.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock valued at $57,000 after buying an additional 255 shares during the period. William Blair Investment Management LLC increased its stake in Webster Financial by 6.5% during the 1st quarter. William Blair Investment Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $214,000 after buying an additional 255 shares during the period. US Bancorp DE increased its stake in Webster Financial by 3.6% during the 1st quarter. US Bancorp DE now owns 7,487 shares of the financial services provider’s stock valued at $380,000 after buying an additional 260 shares during the period. Finally, Wedmont Private Capital increased its stake in Webster Financial by 6.5% during the 1st quarter. Wedmont Private Capital now owns 6,054 shares of the financial services provider’s stock valued at $294,000 after buying an additional 367 shares during the period. 85.58% of the stock is currently owned by institutional investors.

Insider Activity at Webster Financial

In related news, insider Charles L. Wilkins sold 5,000 shares of the company’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 in the company, valued at approximately $2,215,853.99. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Charles L. Wilkins sold 5,000 shares of the company’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 in the company, valued at approximately $2,215,853.99. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 of the company’s stock, valued at approximately $951,366.48. The disclosure for this sale can be found here. Insiders sold a total of 14,650 shares of company stock worth $706,098 in the last ninety days. 0.88% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

WBS has been the topic of several research analyst reports. Royal Bank of Canada lowered their target price on shares of Webster Financial from $54.00 to $51.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods lowered their price objective on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 9th. 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. Jefferies Financial Group lowered 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 note on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, Webster Financial has an average rating of “Moderate Buy” and an average target price of $55.36.

Webster Financial Price Performance

NYSE WBS opened at $48.03 on Friday. Webster Financial Co. has a 12-month low of $36.36 and a 12-month high of $53.39. The stock 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. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average price of $46.12 and a two-hundred day moving average price of $45.65.

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

Webster Financial Announces Dividend

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 dividend of $0.40 per share. 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 payout ratio is currently 32.79%.

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.