Engineers Gate Manager LP Invests $668,000 in Webster Financial Corporation (WBS) Stock

Engineers Gate Manager LP acquired a new stake in Webster Financial Corporation (NYSE:WBS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,800 shares of the financial services provider’s stock, valued at approximately $668,000.

A number of other large investors also recently added to or reduced their stakes in WBS. BlackRock Inc. raised its position in Webster Financial Corporation by 14,031.4% in the first quarter. BlackRock Inc. now owns 10,092,772 shares of the financial services provider’s stock valued at $505,043,000 after purchasing an additional 10,021,351 shares during the period. Victory Capital Management Inc. raised its position in Webster Financial Corporation by 3,821.0% in the second quarter. Victory Capital Management Inc. now owns 804,776 shares of the financial services provider’s stock valued at $42,026,000 after purchasing an additional 784,251 shares during the period. State Street Corp raised its position in Webster Financial Corporation by 12.5% in the first quarter. State Street Corp now owns 5,006,188 shares of the financial services provider’s stock valued at $250,503,000 after purchasing an additional 556,988 shares during the period. Vanguard Group Inc. raised its position in Webster Financial Corporation by 5.5% in the first quarter. Vanguard Group Inc. now owns 7,564,362 shares of the financial services provider’s stock valued at $378,521,000 after purchasing an additional 395,457 shares during the period. Finally, Artisan Partners Limited Partnership raised its position in Webster Financial Corporation by 90.6% in the first quarter. Artisan Partners Limited Partnership now owns 578,755 shares of the financial services provider’s stock valued at $28,961,000 after purchasing an additional 275,056 shares during the period. 94.09% of the stock is currently owned by institutional investors.

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In other Webster Financial Corporation news, EVP Daniel Bley sold 8,000 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $51.20, for a total transaction of $409,600.00. Following the completion of the transaction, the executive vice president now owns 25,657 shares of the company’s stock, valued at approximately $1,313,638.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nitin J. Mhatre sold 31,940 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $51.34, for a total transaction of $1,639,799.60. Following the transaction, the executive vice president now directly owns 23,120 shares of the company’s stock, valued at approximately $1,186,980.80. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.

WBS has been the topic of several research reports. Wedbush reissued an “outperform” rating and issued a $60.00 price objective on shares of Webster Financial Corporation in a research report on Tuesday, June 27th. BidaskClub lowered Webster Financial Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research raised Webster Financial Corporation from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Saturday, July 8th. Piper Jaffray Companies reissued a “sell” rating and issued a $46.00 price objective on shares of Webster Financial Corporation in a research report on Friday, July 14th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $53.00 price objective on shares of Webster Financial Corporation in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Webster Financial Corporation presently has a consensus rating of “Hold” and an average price target of $53.00.

Shares of Webster Financial Corporation (NYSE:WBS) opened at 47.98 on Friday. Webster Financial Corporation has a 52 week low of $36.96 and a 52 week high of $57.50. The firm has a market capitalization of $4.42 billion, a P/E ratio of 19.99 and a beta of 1.27. The stock’s 50 day moving average price is $48.14 and its 200 day moving average price is $50.66.

Webster Financial Corporation (NYSE:WBS) last released its earnings results on Friday, July 21st. The financial services provider reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.04. The firm had revenue of $262.50 million during the quarter, compared to analyst estimates of $260.91 million. Webster Financial Corporation had a net margin of 20.43% and a return on equity of 9.49%. During the same quarter in the previous year, the business earned $0.53 EPS. On average, analysts predict that Webster Financial Corporation will post $2.55 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 7th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Thursday, August 3rd. Webster Financial Corporation’s dividend payout ratio is 43.33%.

About Webster Financial Corporation

Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.

Institutional Ownership by Quarter for Webster Financial Corporation (NYSE:WBS)

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