Lighthouse Investment Partners LLC Acquires Shares of 53,977 Webster Financial Co. (NYSE:WBS)

Lighthouse Investment Partners LLC acquired a new stake in shares of Webster Financial Co. (NYSE:WBSFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 53,977 shares of the financial services provider’s stock, valued at approximately $2,740,000.

Other hedge funds have also bought and sold shares of the company. Spire Wealth Management grew its holdings in shares of Webster Financial by 79.1% in the fourth quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 268 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of Webster Financial in the fourth quarter worth about $42,000. Principal Securities Inc. bought a new position in shares of Webster Financial in the fourth quarter worth about $45,000. EverSource Wealth Advisors LLC grew its holdings in shares of Webster Financial by 29.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 255 shares during the last quarter. Finally, GAMMA Investing LLC bought a new position in shares of Webster Financial in the fourth quarter worth about $69,000. Institutional investors own 85.58% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on WBS shares. Raymond James restated an “outperform” rating and issued a $60.00 price target on shares of Webster Financial in a report on Tuesday, March 26th. Barclays lowered their price objective on shares of Webster Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Keefe, Bruyette & Woods lowered their price objective on shares of Webster Financial from $64.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Webster Financial from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Read Our Latest Stock Analysis on WBS

Insider Activity at Webster Financial

In related news, insider Daniel Bley sold 2,280 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $44.80, for a total value of $102,144.00. Following the transaction, the insider now owns 28,693 shares in the company, valued at approximately $1,285,446.40. The sale was disclosed in a filing with the SEC, which is available through this link. 0.72% of the stock is currently owned by insiders.

Webster Financial Stock Performance

WBS stock opened at $40.95 on Tuesday. The firm has a market cap of $7.02 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 0.51 and a beta of 1.31. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a 50-day simple moving average of $45.46 and a two-hundred day simple moving average of $47.60. Webster Financial Co. has a one year low of $36.22 and a one year high of $53.39.

Webster Financial (NYSE:WBSGet Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). The company had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $680.72 million. Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.49 earnings per share. On average, equities analysts forecast that Webster Financial Co. will post 5.57 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend was Friday, May 3rd. Webster Financial’s payout ratio is currently 32.79%.

Webster Financial Company Profile

(Free Report)

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.

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

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