Amalgamated Bank Buys 59,420 Shares of Webster Financial Co. (NYSE:WBS)

Amalgamated Bank lifted its stake in Webster Financial Co. (NYSE:WBSGet Rating) by 91.6% in the first quarter, Holdings Channel.com reports. The fund owned 124,273 shares of the financial services provider’s stock after purchasing an additional 59,420 shares during the period. Amalgamated Bank’s holdings in Webster Financial were worth $6,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Covestor Ltd bought a new position in shares of Webster Financial in the fourth quarter worth $28,000. Whittier Trust Co. bought a new stake in Webster Financial during the first quarter valued at $32,000. Front Row Advisors LLC bought a new stake in Webster Financial during the first quarter valued at $32,000. Harvest Fund Management Co. Ltd boosted its stake in Webster Financial by 55.5% during the first quarter. Harvest Fund Management Co. Ltd now owns 675 shares of the financial services provider’s stock valued at $37,000 after buying an additional 241 shares during the period. Finally, Glassman Wealth Services boosted its stake in Webster Financial by 2,043.8% during the fourth quarter. Glassman Wealth Services now owns 686 shares of the financial services provider’s stock valued at $38,000 after buying an additional 654 shares during the period. 85.98% of the stock is owned by institutional investors.

Insider Activity at Webster Financial

In related news, COO Luis Massiani sold 8,000 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $46.43, for a total transaction of $371,440.00. Following the transaction, the chief operating officer now owns 152,910 shares in the company, valued at approximately $7,099,611.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.85% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Jefferies Financial Group dropped their price objective on Webster Financial from $62.00 to $55.00 in a research note on Monday, July 11th. StockNews.com downgraded Webster Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, September 13th. Raymond James lowered their price target on Webster Financial from $73.00 to $57.00 and set a “strong-buy” rating on the stock in a research report on Thursday, July 7th. Compass Point lowered their price target on Webster Financial to $77.00 in a research report on Friday, July 22nd. Finally, Wedbush downgraded Webster Financial from an “outperform” rating to a “neutral” rating and set a $50.00 price target on the stock. in a research report on Thursday, June 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $61.25.

Webster Financial Stock Down 2.1 %

WBS opened at $46.71 on Monday. The company has a market cap of $8.21 billion, a P/E ratio of 15.12 and a beta of 1.27. The business’s 50-day moving average price is $46.68 and its 200-day moving average price is $48.71. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.47. Webster Financial Co. has a 12 month low of $40.72 and a 12 month high of $65.00.

Webster Financial (NYSE:WBSGet Rating) last announced its quarterly earnings results 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. Webster Financial had a return on equity of 11.53% and a net margin of 20.70%. The company had revenue of $607.60 million for the quarter, compared to the consensus estimate of $602.36 million. During the same quarter in the previous year, the business earned $1.21 EPS. Webster Financial’s revenue was up 106.9% compared to the same quarter last year. On average, equities analysts expect that Webster Financial Co. will post 5.48 EPS for the current year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 17th. Investors of record on Tuesday, August 2nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, August 1st. This represents a $1.60 dividend on an annualized basis and a yield of 3.43%. Webster Financial’s dividend payout ratio is presently 51.78%.

Webster Financial Company Profile

(Get Rating)

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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