Essex Financial Services Inc. boosted its position in shares of Webster Financial Corp. (NYSE:WBS) by 0.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 15,651 shares of the financial services provider’s stock after buying an additional 80 shares during the period. Essex Financial Services Inc.’s holdings in Webster Financial Corp. were worth $531,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of Webster Financial Corp. by 15.6% in the first quarter. Wellington Management Group LLP now owns 3,478,022 shares of the financial services provider’s stock worth $124,862,000 after buying an additional 469,319 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Webster Financial Corp. during the first quarter worth approximately $12,300,000. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Webster Financial Corp. by 6.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,762,226 shares of the financial services provider’s stock worth $99,164,000 after buying an additional 163,811 shares during the period. Credit Agricole S A boosted its stake in shares of Webster Financial Corp. by 900.0% in the first quarter. Credit Agricole S A now owns 155,000 shares of the financial services provider’s stock worth $5,564,000 after buying an additional 139,500 shares during the period. Finally, Sunriver Management LLC boosted its stake in shares of Webster Financial Corp. by 66.7% in the first quarter. Sunriver Management LLC now owns 285,380 shares of the financial services provider’s stock worth $10,245,000 after buying an additional 114,210 shares during the period. 94.30% of the stock is owned by hedge funds and other institutional investors.
Shares of Webster Financial Corp. (NYSE:WBS) traded down 0.70% during mid-day trading on Monday, reaching $37.05. The company had a trading volume of 359,691 shares. The company has a 50 day moving average price of $38.08 and a 200 day moving average price of $36.73. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 17.56 and a beta of 1.46. Webster Financial Corp. has a one year low of $30.09 and a one year high of $40.72.
Webster Financial Corp. (NYSE:WBS) last released its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The company earned $242 million during the quarter, compared to analyst estimates of $177.92 million. Webster Financial Corp. had a return on equity of 8.84% and a net margin of 19.44%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the business posted $0.55 earnings per share. On average, analysts anticipate that Webster Financial Corp. will post $2.10 EPS for the current year.
A number of equities research analysts have commented on WBS shares. Barclays PLC cut Webster Financial Corp. from an “overweight” rating to an “equal weight” rating and set a $38.00 price objective for the company. in a research note on Friday, August 5th. Deutsche Bank AG raised their price objective on Webster Financial Corp. from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, September 15th. Jefferies Group reissued a “hold” rating and issued a $36.00 price objective on shares of Webster Financial Corp. in a research note on Thursday, July 7th. Zacks Investment Research raised Webster Financial Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 27th. Finally, FBR & Co set a $36.00 target price on Webster Financial Corp. and gave the company a “hold” rating in a research report on Thursday, July 21st. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $38.14.
In other Webster Financial Corp. news, EVP Daniel Bley sold 5,153 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $36.03, for a total transaction of $185,662.59. Following the completion of the transaction, the executive vice president now owns 35,415 shares in the company, valued at $1,276,002.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elizabeth E. Flynn bought 2,900 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were acquired at an average price of $35.97 per share, with a total value of $104,313.00. Following the transaction, the director now directly owns 15,681 shares of the company’s stock, valued at $564,045.57. The disclosure for this purchase can be found here. 2.59% of the stock is owned by corporate insiders.
Webster Financial Corp. Company Profile
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.