International Assets Investment Management LLC Invests $4.44 Million in Webster Financial Co. (NYSE:WBS)

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

Several other large investors also recently added to or reduced their stakes in WBS. NBC Securities Inc. bought a new stake in shares of Webster Financial during the 3rd quarter worth $32,000. Bruce G. Allen Investments LLC purchased a new stake in Webster Financial during the fourth quarter valued at about $42,000. Covestor Ltd lifted its stake in Webster Financial by 17.0% during the third quarter. Covestor Ltd now owns 3,529 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 513 shares during the last quarter. Banque Cantonale Vaudoise boosted its holdings in shares of Webster Financial by 49.0% in the 3rd quarter. Banque Cantonale Vaudoise now owns 3,576 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 1,176 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. bought a new position in shares of Webster Financial during the 4th quarter valued at about $215,000. Institutional investors own 85.58% of the company’s stock.

Insider Activity

In other Webster Financial news, insider Daniel Bley sold 2,280 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $44.80, for a total transaction of $102,144.00. Following the completion of the sale, the insider now directly owns 28,693 shares of the company’s stock, valued at $1,285,446.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Royal Bank of Canada cut their target price on Webster Financial from $57.00 to $54.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Citigroup reduced their target price on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Barclays lowered their price target 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. Jefferies Financial Group reduced their price objective on Webster Financial from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. lowered their target price on 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 equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $56.23.

Webster Financial Stock Up 0.6 %

NYSE:WBS opened at $45.91 on Thursday. The firm has a 50-day simple moving average of $47.50 and a two-hundred day simple moving average of $46.88. The firm has a market cap of $7.89 billion, a P/E ratio of 9.41, a P/E/G ratio of 0.40 and a beta of 1.35. Webster Financial Co. has a fifty-two week low of $31.62 and a fifty-two week high of $53.39. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.86 and a current ratio of 0.86.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The business had revenue of $667.10 million for the quarter, compared to the consensus estimate of $680.72 million. Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.49 earnings per share. Analysts predict that Webster Financial Co. will post 5.62 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.49%. Webster Financial’s dividend payout ratio is currently 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.