Webster Financial Co. (NYSE:WBS) Shares Bought by Boston Partners

Boston Partners raised its stake in Webster Financial Co. (NYSE:WBS) by 1,491.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 485,776 shares of the financial services provider’s stock after acquiring an additional 455,257 shares during the period. Boston Partners’ holdings in Webster Financial were worth $26,838,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WBS. GSA Capital Partners LLP acquired a new position in Webster Financial in the third quarter valued at approximately $286,000. Natixis Advisors LLC boosted its stake in Webster Financial by 29.6% in the third quarter. Natixis Advisors LLC now owns 236,252 shares of the financial services provider’s stock valued at $11,012,000 after acquiring an additional 53,950 shares during the period. Thrivent Financial for Lutherans boosted its stake in Webster Financial by 26.1% in the third quarter. Thrivent Financial for Lutherans now owns 212,272 shares of the financial services provider’s stock valued at $9,894,000 after acquiring an additional 44,000 shares during the period. Pathstone Holdings LLC boosted its stake in Webster Financial by 8.3% in the third quarter. Pathstone Holdings LLC now owns 78,342 shares of the financial services provider’s stock valued at $3,652,000 after acquiring an additional 5,993 shares during the period. Finally, First Horizon Advisors Inc. boosted its stake in Webster Financial by 45.9% in the third quarter. First Horizon Advisors Inc. now owns 1,398 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 440 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Laurence C. Morse sold 13,217 shares of Webster Financial stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total value of $780,728.19. Following the transaction, the director now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.43, for a total value of $459,440.00. Following the completion of the transaction, the chief executive officer now directly owns 210,051 shares in the company, valued at $12,063,228.93. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WBS. Wells Fargo & Company upgraded Webster Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $70.00 to $75.00 in a research note on Monday, January 6th. UBS Group initiated coverage on Webster Financial in a report on Tuesday, December 17th. They set a “buy” rating and a $76.00 price target on the stock. Royal Bank of Canada lifted their price target on Webster Financial from $66.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a report on Saturday, January 11th. Finally, JPMorgan Chase & Co. cut their price target on Webster Financial from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Webster Financial currently has a consensus rating of “Moderate Buy” and an average price target of $63.08.

Webster Financial Price Performance

NYSE:WBS opened at $52.12 on Thursday. The business’s 50-day moving average price is $56.40 and its 200 day moving average price is $54.18. The firm has a market cap of $8.93 billion, a P/E ratio of 11.93, 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. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.34.

Webster Financial (NYSE:WBS) last released its earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.08. The firm had revenue of $661.00 million for the quarter, compared to analyst estimates of $687.53 million. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. During the same period in the previous year, the company earned $1.46 earnings per share. As a group, sell-side analysts predict that Webster Financial Co. will post 5.88 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were paid a $0.40 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.60 dividend on an annualized basis and a yield of 3.07%. Webster Financial’s dividend payout ratio is currently 36.61%.

Webster Financial Profile

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.