Victory Capital Management Inc. Has $24.85 Million Stock Position in Webster Financial Co. (NYSE:WBS)

Victory Capital Management Inc. boosted its position in Webster Financial Co. (NYSE:WBSGet Rating) by 4,485.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 497,086 shares of the financial services provider’s stock after purchasing an additional 486,246 shares during the period. Victory Capital Management Inc. owned about 0.28% of Webster Financial worth $24,849,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Capital International Investors lifted its stake in Webster Financial by 4.3% in the 4th quarter. Capital International Investors now owns 7,864,472 shares of the financial services provider’s stock valued at $439,170,000 after purchasing an additional 326,552 shares during the last quarter. Wasatch Advisors Inc. lifted its position in Webster Financial by 1.5% during the fourth quarter. Wasatch Advisors Inc. now owns 4,235,872 shares of the financial services provider’s stock worth $236,531,000 after acquiring an additional 64,316 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Webster Financial by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,569,718 shares of the financial services provider’s stock worth $87,654,000 after acquiring an additional 54,725 shares during the last quarter. Geode Capital Management LLC lifted its position in Webster Financial by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 1,132,412 shares of the financial services provider’s stock worth $63,233,000 after acquiring an additional 42,496 shares during the last quarter. Finally, TD Asset Management Inc. lifted its position in Webster Financial by 93.0% during the fourth quarter. TD Asset Management Inc. now owns 505,466 shares of the financial services provider’s stock worth $28,225,000 after acquiring an additional 243,617 shares during the last quarter. 45.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WBS has been the subject of several research reports. Jefferies Financial Group cut their price objective on shares of Webster Financial from $62.00 to $55.00 in a research report on Monday, July 11th. StockNews.com downgraded shares of Webster Financial from a “hold” rating to a “sell” rating in a research report on Monday, May 2nd. Compass Point dropped their price target on shares of Webster Financial to $77.00 in a research report on Friday, July 22nd. TheStreet downgraded shares of Webster Financial from a “b” rating to a “c+” rating in a research report on Thursday, April 28th. Finally, Wedbush downgraded shares of Webster Financial from an “outperform” rating to a “neutral” rating and set a $50.00 price target for the company. in a research report on Thursday, June 30th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $61.25.

Webster Financial Stock Performance

Shares of NYSE:WBS opened at $45.96 on Thursday. The company’s 50 day simple moving average is $45.31 and its 200 day simple moving average is $51.63. The stock has a market capitalization of $8.25 billion, a price-to-earnings ratio of 14.87 and a beta of 1.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.85 and a quick ratio of 0.85. Webster Financial Co. has a 1 year low of $40.72 and a 1 year high of $65.00.

Webster Financial (NYSE:WBSGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. The business had revenue of $607.60 million for the quarter, compared to analysts’ expectations of $602.36 million. Webster Financial had a net margin of 20.70% and a return on equity of 11.53%. The firm’s quarterly revenue was up 106.9% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. As a group, research analysts predict that Webster Financial Co. will post 5.36 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 17th. Shareholders of record on Tuesday, August 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, August 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.48%. Webster Financial’s payout ratio is presently 51.78%.

Insiders Place Their Bets

In other news, insider Javier L. Evans sold 1,005 shares of Webster Financial stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $47.91, for a total transaction of $48,149.55. Following the transaction, the insider now owns 36,904 shares in the company, valued at $1,768,070.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Maureen Mitchell bought 520 shares of the company’s stock in a transaction that occurred on Friday, May 6th. The shares were acquired at an average price of $48.51 per share, for a total transaction of $25,225.20. Following the completion of the acquisition, the director now directly owns 7,872 shares in the company, valued at $381,870.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Javier L. Evans sold 1,005 shares of the business’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $47.91, for a total transaction of $48,149.55. Following the completion of the transaction, the insider now owns 36,904 shares in the company, valued at approximately $1,768,070.64. The disclosure for this sale can be found here. Insiders own 1.85% of the company’s stock.

Webster Financial Profile

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Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Retail Banking.

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

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