Mutual of America Capital Management LLC boosted its stake in shares of Webster Financial Corp. (NYSE:WBS) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,122 shares of the financial services provider’s stock after buying an additional 1,044 shares during the period. Mutual of America Capital Management LLC owned approximately 0.08% of Webster Financial Corp. worth $2,627,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WBS. Peregrine Capital Management LLC purchased a new position in Webster Financial Corp. during the third quarter valued at about $11,265,000. World Asset Management Inc purchased a new position in Webster Financial Corp. during the third quarter valued at about $227,000. Great West Life Assurance Co. Can increased its position in Webster Financial Corp. by 2.3% in the third quarter. Great West Life Assurance Co. Can now owns 56,250 shares of the financial services provider’s stock valued at $2,135,000 after buying an additional 1,272 shares in the last quarter. Commonwealth Equity Services Inc increased its position in Webster Financial Corp. by 6.1% in the third quarter. Commonwealth Equity Services Inc now owns 28,094 shares of the financial services provider’s stock valued at $1,068,000 after buying an additional 1,608 shares in the last quarter. Finally, GW&K Investment Management LLC increased its position in Webster Financial Corp. by 4.7% in the third quarter. GW&K Investment Management LLC now owns 1,148,021 shares of the financial services provider’s stock valued at $43,636,000 after buying an additional 51,312 shares in the last quarter. 93.50% of the stock is owned by institutional investors.
Webster Financial Corp. (NYSE:WBS) traded down 0.24% during trading on Friday, hitting $49.10. The company’s stock had a trading volume of 309,029 shares. Webster Financial Corp. has a 12 month low of $30.09 and a 12 month high of $49.45. The firm has a 50 day moving average of $41.91 and a 200 day moving average of $38.07. The firm has a market cap of $4.50 billion, a P/E ratio of 23.27 and a beta of 1.17.
Webster Financial Corp. (NYSE:WBS) last announced its quarterly earnings data on Friday, October 21st. The financial services provider reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.01. The company had revenue of $246.60 million for the quarter, compared to analysts’ expectations of $178.53 million. Webster Financial Corp. had a return on equity of 8.75% and a net margin of 19.13%. Webster Financial Corp.’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the firm posted $0.54 EPS. Equities research analysts predict that Webster Financial Corp. will post $2.11 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Tuesday, November 8th were issued a dividend of $0.245 per share. The ex-dividend date was Friday, November 4th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 2.00%. Webster Financial Corp.’s dividend payout ratio is 46.95%.
Several research firms have recently issued reports on WBS. Piper Jaffray Cos. downgraded Webster Financial Corp. from a “neutral” rating to an “underweight” rating and set a $37.50 price objective for the company. in a research note on Wednesday, November 16th. Wells Fargo & Co. cut Webster Financial Corp. from an “outperform” rating to a “market perform” rating in a report on Monday, November 14th. Deutsche Bank AG cut Webster Financial Corp. from a “buy” rating to a “hold” rating and set a $43.00 target price on the stock. in a report on Tuesday, November 8th. Zacks Investment Research upgraded Webster Financial Corp. from a “sell” rating to a “hold” rating in a report on Thursday, October 27th. Finally, FBR & Co upped their target price on Webster Financial Corp. from $36.00 to $38.00 and gave the company a “mkt perform” rating in a report on Monday, October 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Webster Financial Corp. currently has a consensus rating of “Hold” and a consensus price target of $38.07.
In related news, Director John Joseph Crawford sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $39.82, for a total transaction of $119,460.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Karen R. Osar sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $40.26, for a total value of $503,250.00. Following the transaction, the director now directly owns 35,280 shares in the company, valued at $1,420,372.80. The disclosure for this sale can be found here. Corporate insiders own 2.59% of the company’s stock.
About Webster Financial Corp.
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions.