King Luther Capital Management Corp Boosts Stake in Webster Financial Co. (NYSE:WBS)

King Luther Capital Management Corp increased its stake in shares of Webster Financial Co. (NYSE:WBS) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,742 shares of the financial services provider’s stock after buying an additional 240 shares during the quarter. King Luther Capital Management Corp owned about 0.06% of Webster Financial worth $5,563,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. TimesSquare Capital Management LLC grew its stake in Webster Financial by 759.8% during the 4th quarter. TimesSquare Capital Management LLC now owns 823,280 shares of the financial services provider’s stock valued at $45,462,000 after purchasing an additional 727,530 shares during the last quarter. Bank of Montreal Can raised its position in Webster Financial by 182.7% during the 3rd quarter. Bank of Montreal Can now owns 959,180 shares of the financial services provider’s stock worth $44,496,000 after buying an additional 619,934 shares during the last quarter. State Street Corp lifted its stake in Webster Financial by 4.8% during the 3rd quarter. State Street Corp now owns 7,320,930 shares of the financial services provider’s stock valued at $341,229,000 after acquiring an additional 333,606 shares during the period. Wellington Management Group LLP increased its stake in shares of Webster Financial by 57.6% in the third quarter. Wellington Management Group LLP now owns 770,684 shares of the financial services provider’s stock worth $35,922,000 after acquiring an additional 281,686 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Webster Financial during the fourth quarter valued at $14,735,000. 85.58% of the stock is owned by institutional investors and hedge funds.

Webster Financial Price Performance

Webster Financial stock opened at $48.84 on Wednesday. The company has a fifty day simple moving average of $56.99 and a 200-day simple moving average of $54.09. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 1.02 and a beta of 1.28. Webster Financial Co. has a 52-week low of $39.34 and a 52-week high of $63.99.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.08. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The business had revenue of $661.00 million during the quarter, compared to analyst estimates of $687.53 million. During the same period in the prior year, the business earned $1.46 earnings per share. On average, equities analysts anticipate that Webster Financial Co. will post 5.88 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were issued a dividend of $0.40 per share. The ex-dividend date was Monday, February 10th. This represents a $1.60 annualized dividend and a dividend yield of 3.28%. Webster Financial’s dividend payout ratio is presently 36.61%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. UBS Group initiated coverage on Webster Financial in a research note on Tuesday, December 17th. They set a “buy” rating and a $76.00 price objective for the company. StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a report on Saturday, January 11th. JPMorgan Chase & Co. cut their price objective on shares of Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Royal Bank of Canada increased their target price on shares of Webster Financial from $66.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company raised Webster Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $75.00 in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.08.

Insider Transactions at Webster Financial

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.43, for a total transaction of $459,440.00. Following the transaction, the chief executive officer now directly owns 210,051 shares of the company’s stock, valued at $12,063,228.93. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Laurence C. Morse sold 13,217 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $59.07, for a total transaction of $780,728.19. Following the completion of the sale, the director now directly owns 18,808 shares of the company’s stock, valued at approximately $1,110,988.56. This trade represents a 41.27 % decrease in their position. The disclosure for this sale can be found here. 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.