Envestnet Asset Management Inc. Purchases 4,684 Shares of Webster Financial Corporation (NYSE:WBS)

Envestnet Asset Management Inc. boosted its position in shares of Webster Financial Corporation (NYSE:WBS) by 1.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 267,787 shares of the financial services provider’s stock after acquiring an additional 4,684 shares during the period. Envestnet Asset Management Inc. owned 0.16% of Webster Financial worth $13,804,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WBS. Headlands Technologies LLC bought a new stake in Webster Financial during the 4th quarter worth approximately $32,000. Versant Capital Management Inc raised its stake in Webster Financial by 171.2% during the 1st quarter. Versant Capital Management Inc now owns 1,025 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 647 shares during the period. Bessemer Group Inc. raised its stake in Webster Financial by 166.1% during the 1st quarter. Bessemer Group Inc. now owns 1,027 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 641 shares during the period. Parallel Advisors LLC raised its stake in Webster Financial by 78.7% during the 1st quarter. Parallel Advisors LLC now owns 1,117 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 492 shares during the period. Finally, Spurstone Advisory Services LLC bought a new stake in Webster Financial during the 4th quarter worth approximately $61,000. Institutional investors own 85.58% of the company’s stock.

Insiders Place Their Bets

In other news, insider Daniel Bley sold 1,200 shares of Webster Financial stock in a transaction on Monday, May 5th. The stock was sold at an average price of $49.97, for a total transaction of $59,964.00. Following the completion of the sale, the insider directly owned 20,317 shares in the company, valued at approximately $1,015,240.49. This trade represents a 5.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles L. Wilkins sold 5,000 shares of Webster Financial stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $53.25, for a total value of $266,250.00. Following the completion of the sale, the insider owned 31,534 shares of the company’s stock, valued at $1,679,185.50. The trade was a 13.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,000 shares of company stock valued at $934,210 in the last three months. 0.54% of the stock is owned by company insiders.

Webster Financial Stock Up 1.4%

Shares of WBS opened at $60.89 on Friday. The company has a market cap of $10.24 billion, a PE ratio of 12.35, a P/E/G ratio of 0.78 and a beta of 1.00. The business has a fifty day moving average of $54.33 and a 200 day moving average of $53.23. Webster Financial Corporation has a 52-week low of $39.43 and a 52-week high of $63.99. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.47.

Webster Financial (NYSE:WBS) last released its earnings results on Thursday, July 17th. The financial services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.09. Webster Financial had a return on equity of 10.84% and a net margin of 20.06%. The business had revenue of $715.80 million during the quarter, compared to the consensus estimate of $716.59 million. During the same period last year, the company earned $1.26 earnings per share. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, sell-side analysts expect that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial declared that its board has initiated a stock repurchase plan on Thursday, May 1st that authorizes the company to repurchase $700.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 8.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.60 annualized dividend and a dividend yield of 2.63%. Webster Financial’s dividend payout ratio (DPR) is 36.04%.

Wall Street Analysts Forecast Growth

WBS has been the subject of a number of research analyst reports. Citigroup increased their price objective on shares of Webster Financial from $65.00 to $71.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Company increased their price objective on shares of Webster Financial from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Friday. UBS Group reaffirmed a “buy” rating and set a $69.00 price objective on shares of Webster Financial in a report on Wednesday, July 9th. Keefe, Bruyette & Woods increased their price objective on shares of Webster Financial from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Friday. Finally, Royal Bank Of Canada set a $60.00 price objective on shares of Webster Financial and gave the company an “outperform” rating in a report on Friday, April 25th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.77.

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.