First Trust Advisors LP boosted its stake in shares of Webster Financial Co. (NYSE:WBS) by 111.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,307 shares of the financial services provider’s stock after purchasing an additional 35,423 shares during the period. First Trust Advisors LP owned about 0.07% of Webster Financial worth $3,780,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GSA Capital Partners LLP purchased a new position in shares of Webster Financial in the third quarter valued at about $202,000. Fox Run Management L.L.C. purchased a new position in shares of Webster Financial in the fourth quarter valued at about $264,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Webster Financial by 39.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,788 shares of the financial services provider’s stock valued at $269,000 after acquiring an additional 1,353 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of Webster Financial in the fourth quarter valued at about $271,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of Webster Financial in the fourth quarter valued at about $303,000. Institutional investors own 94.60% of the company’s stock.
Several equities analysts have recently commented on WBS shares. Zacks Investment Research upgraded Webster Financial from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Wednesday, December 20th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $71.00 price objective on shares of Webster Financial in a research report on Friday, December 22nd. Barclays boosted their target price on Webster Financial from $55.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Piper Jaffray Companies upgraded Webster Financial from an “underweight” rating to a “neutral” rating and set a $55.00 target price on the stock in a research report on Friday, January 5th. Finally, Wells Fargo reiterated a “market perform” rating and issued a $60.00 target price (up from $55.00) on shares of Webster Financial in a research report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. Webster Financial currently has an average rating of “Hold” and a consensus target price of $59.82.
Shares of Webster Financial stock traded down $1.02 during midday trading on Monday, reaching $56.47. The company’s stock had a trading volume of 206,720 shares, compared to its average volume of 556,698. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. Webster Financial Co. has a 52 week low of $44.04 and a 52 week high of $60.32. The company has a market capitalization of $5,295.46, a PE ratio of 21.61, a P/E/G ratio of 2.13 and a beta of 1.14.
Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.06. Webster Financial had a return on equity of 9.91% and a net margin of 21.77%. The company had revenue of $270.97 million for the quarter, compared to analysts’ expectations of $269.64 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. equities analysts predict that Webster Financial Co. will post 3.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, February 12th. This represents a $1.04 annualized dividend and a yield of 1.84%. Webster Financial’s payout ratio is currently 39.10%.
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Webster Financial Company Profile
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.
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