Ingalls & Snyder LLC Buys New Position in Webster Financial Co. (NYSE:WBS)

Ingalls & Snyder LLC bought a new stake in shares of Webster Financial Co. (NYSE:WBS) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,556 shares of the financial services provider’s stock, valued at approximately $231,000.

Other hedge funds also recently modified their holdings of the company. US Bancorp DE lifted its holdings in Webster Financial by 217.7% during the first quarter. US Bancorp DE now owns 6,646 shares of the financial services provider’s stock worth $372,000 after acquiring an additional 4,554 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in Webster Financial during the first quarter worth $480,000. Cetera Advisor Networks LLC bought a new stake in Webster Financial during the first quarter worth $410,000. Private Advisor Group LLC lifted its holdings in Webster Financial by 78.6% during the first quarter. Private Advisor Group LLC now owns 11,359 shares of the financial services provider’s stock worth $637,000 after acquiring an additional 4,999 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in Webster Financial by 78.5% during the first quarter. PNC Financial Services Group Inc. now owns 18,398 shares of the financial services provider’s stock worth $1,032,000 after acquiring an additional 8,091 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Insider Transactions at Webster Financial

In other news, insider Charles L. Wilkins sold 3,966 shares of the company’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $51.56, for a total value of $204,486.96. Following the completion of the transaction, the insider now directly owns 49,528 shares in the company, valued at approximately $2,553,663.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Luis Massiani sold 13,500 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total value of $697,005.00. Following the completion of the transaction, the chief operating officer now directly owns 89,621 shares in the company, valued at approximately $4,627,132.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charles L. Wilkins sold 3,966 shares of the company’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $51.56, for a total value of $204,486.96. Following the completion of the transaction, the insider now owns 49,528 shares of the company’s stock, valued at $2,553,663.68. The disclosure for this sale can be found here. In the last three months, insiders sold 29,941 shares of company stock worth $1,545,582. 0.72% of the stock is currently owned by corporate insiders.

Webster Financial Price Performance

Webster Financial stock opened at $46.23 on Monday. Webster Financial Co. has a 52 week low of $31.03 and a 52 week high of $53.39. The business has a 50-day simple moving average of $48.05 and a 200 day simple moving average of $46.18. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.41. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 0.37 and a beta of 1.33.

Webster Financial (NYSE:WBS) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.02). Webster Financial had a return on equity of 13.05% and a net margin of 22.01%. The business had revenue of $996.96 million for the quarter, compared to analysts’ expectations of $674.82 million. During the same quarter in the previous year, the firm earned $1.60 earnings per share. On average, research analysts forecast that Webster Financial Co. will post 5.86 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Monday, February 5th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend was Friday, February 2nd. Webster Financial’s payout ratio is currently 32.72%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WBS. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $64.00 target price on shares of Webster Financial in a research note on Tuesday, March 26th. Bank of America began coverage on Webster Financial in a research note on Thursday, January 11th. They issued a “buy” rating and a $60.00 target price on the stock. Barclays began coverage on Webster Financial in a research note on Friday, March 8th. They issued an “overweight” rating and a $70.00 target price on the stock. Morgan Stanley boosted their target price on Webster Financial from $51.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Finally, Raymond James reiterated an “outperform” rating and issued a $60.00 price target on shares of Webster Financial in a research report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Webster Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.85.

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.