Inspire Investing LLC Grows Position in Webster Financial Co. (NYSE:WBS)

Inspire Investing LLC grew its stake in shares of Webster Financial Co. (NYSE:WBS) by 14.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,061 shares of the financial services provider’s stock after buying an additional 1,028 shares during the period. Inspire Investing LLC’s holdings in Webster Financial were worth $351,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Webster Financial by 0.3% during the first quarter. Vanguard Group Inc. now owns 17,926,270 shares of the financial services provider’s stock worth $910,117,000 after buying an additional 54,841 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Webster Financial by 1.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,237,482 shares of the financial services provider’s stock valued at $316,678,000 after purchasing an additional 95,780 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Webster Financial by 28.0% in the second quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock valued at $240,687,000 after purchasing an additional 1,206,575 shares during the period. Earnest Partners LLC grew its position in shares of Webster Financial by 11.2% in the first quarter. Earnest Partners LLC now owns 3,072,624 shares of the financial services provider’s stock valued at $155,997,000 after purchasing an additional 308,455 shares during the period. Finally, American Century Companies Inc. grew its position 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 valued at $115,096,000 after purchasing an additional 301,935 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Trading Down 1.2 %

Shares of WBS opened at $47.43 on Tuesday. The stock’s 50-day moving average is $46.12 and its two-hundred day moving average is $45.61. The stock has a market cap of $8.13 billion, a PE ratio of 9.72, a P/E/G ratio of 0.67 and a beta of 1.28. Webster Financial Co. has a 12 month low of $36.36 and a 12 month 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 issued its quarterly earnings data 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). The company 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 in the prior year, the firm earned $1.50 EPS. Equities analysts forecast that Webster Financial Co. will post 5.27 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

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

Insider Buying and Selling

In related 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 transaction, the insider now owns 45,157 shares in the company, valued at $2,215,853.99. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related 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 transaction, the insider now owns 45,157 shares in the company, valued at $2,215,853.99. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $48.04, for a total value of $384,320.00. Following the completion of the transaction, the chief executive officer now owns 237,049 shares in the company, valued at approximately $11,387,833.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,650 shares of company stock worth $706,098. 0.88% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on WBS shares. Morgan Stanley downgraded Webster Financial from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $54.00 to $57.00 in a research report on Monday, August 5th. Royal Bank of Canada lowered their price objective on 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 lowered their price objective on Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. reduced their target price on Webster Financial from $63.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Finally, Barclays reduced their target price on Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.36.

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.