International Assets Investment Management LLC Acquires Shares of 87,436 Webster Financial Co. (NYSE:WBS)

International Assets Investment Management LLC acquired a new stake in Webster Financial Co. (NYSE:WBS) in the fourth quarter, Holdings Channel reports. The fund acquired 87,436 shares of the financial services provider’s stock, valued at approximately $4,438,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its position in shares of Webster Financial by 1.6% during the fourth quarter. Arizona State Retirement System now owns 48,433 shares of the financial services provider’s stock valued at $2,458,000 after buying an additional 760 shares during the last quarter. Trust Point Inc. purchased a new position in shares of Webster Financial during the fourth quarter valued at approximately $219,000. Oak Thistle LLC purchased a new position in shares of Webster Financial during the fourth quarter valued at approximately $611,000. Fifth Third Bancorp boosted its position in shares of Webster Financial by 6.1% during the fourth quarter. Fifth Third Bancorp now owns 36,119 shares of the financial services provider’s stock valued at $1,833,000 after buying an additional 2,067 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Webster Financial by 78.1% during the fourth quarter. Pacer Advisors Inc. now owns 25,858 shares of the financial services provider’s stock valued at $1,313,000 after buying an additional 11,338 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Insider Activity at Webster Financial

In related news, COO Luis Massiani sold 13,500 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total transaction of $697,005.00. Following the sale, 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 filing with the SEC, which is accessible through the SEC website. In related news, insider Daniel Bley sold 2,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total transaction of $95,200.00. Following the sale, the insider now directly owns 27,955 shares in the company, valued at approximately $1,330,658. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Luis Massiani sold 13,500 shares of the business’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 transaction, the chief operating officer now owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,941 shares of company stock worth $1,545,582. 0.72% of the stock is owned by company insiders.

Webster Financial Stock Performance

Shares of WBS opened at $45.33 on Wednesday. The firm has a market cap of $7.79 billion, a PE ratio of 9.27, a PEG ratio of 0.37 and a beta of 1.33. The stock’s fifty day moving average price is $48.01 and its two-hundred day moving average price is $46.26. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.85 and a quick ratio of 0.85. Webster Financial Co. has a 1 year low of $31.03 and a 1 year high of $53.39.

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

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Monday, February 5th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.53%. Webster Financial’s payout ratio is 32.72%.

Analyst Upgrades and Downgrades

WBS has been the topic of several analyst reports. Barclays started coverage on Webster Financial in a research report on Friday, March 8th. They set an “overweight” rating and a $70.00 target price on the stock. Citigroup cut their price objective on Webster Financial from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $64.00 price objective on shares of Webster Financial in a research report on Tuesday, March 26th. JPMorgan Chase & Co. raised Webster Financial from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $60.00 to $65.00 in a research report on Wednesday, January 24th. Finally, Morgan Stanley boosted their price objective on Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $57.85.

Webster Financial Profile

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.