Algert Global LLC Increases Stock Holdings in Webster Financial Co. (NYSE:WBS)

Algert Global LLC lifted its stake in shares of Webster Financial Co. (NYSE:WBS) by 103.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,230 shares of the financial services provider’s stock after purchasing an additional 31,630 shares during the quarter. Algert Global LLC’s holdings in Webster Financial were worth $2,713,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Webster Financial by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 17,926,270 shares of the financial services provider’s stock worth $910,117,000 after buying an additional 54,841 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Webster Financial by 1.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,237,482 shares of the financial services provider’s stock worth $316,678,000 after purchasing an additional 95,780 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Webster Financial by 28.0% in the second quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock valued at $240,687,000 after purchasing an additional 1,206,575 shares during the period. Earnest Partners LLC lifted its position in Webster Financial by 0.4% in the second quarter. Earnest Partners LLC now owns 3,086,111 shares of the financial services provider’s stock valued at $134,524,000 after purchasing an additional 13,487 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Webster Financial by 12.9% in the 2nd quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock valued at $115,096,000 after purchasing an additional 301,935 shares in the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Webster Financial

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $48.04, for a total value of $384,320.00. Following the completion of the sale, the chief executive officer now directly owns 237,049 shares of the company’s stock, valued at approximately $11,387,833.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Charles L. Wilkins sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $49.07, for a total value of $245,350.00. Following the sale, the insider now directly owns 45,157 shares of the company’s stock, valued at $2,215,853.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $48.04, for a total transaction of $384,320.00. Following the completion of the sale, the chief executive officer now owns 237,049 shares of the company’s stock, valued at $11,387,833.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,650 shares of company stock valued at $706,098. Company insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on WBS shares. Barclays dropped their price objective on Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Keefe, Bruyette & Woods cut their price target on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, July 9th. Jefferies Financial Group reduced their price objective on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. dropped their target price on shares of Webster Financial from $63.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, June 27th. Finally, Morgan Stanley decreased their price target on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.09.

Webster Financial Price Performance

WBS stock opened at $44.86 on Wednesday. The stock’s 50 day moving average price is $45.84 and its 200 day moving average price is $45.50. The firm has a market cap of $7.69 billion, a P/E ratio of 9.19, a PEG ratio of 0.69 and a beta of 1.28. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 0.85. Webster Financial Co. has a 1 year low of $36.36 and a 1 year high of $53.39.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $671.91 million. During the same period in the previous year, the business earned $1.50 EPS. On average, sell-side analysts expect that Webster Financial Co. will post 5.26 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Monday, July 29th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Monday, July 29th. Webster Financial’s dividend payout ratio is presently 32.79%.

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.