MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income lifted its holdings in Webster Financial Co. (NYSE:WBS – Get Rating) by 13.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,785 shares of the financial services provider’s stock after purchasing an additional 5,590 shares during the quarter. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income’s holdings in Webster Financial were worth $2,626,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in WBS. Covestor Ltd acquired a new position in shares of Webster Financial in the fourth quarter valued at $28,000. Whittier Trust Co. acquired a new position in shares of Webster Financial in the first quarter valued at about $32,000. Glassman Wealth Services grew its stake in shares of Webster Financial by 2,043.8% in the fourth quarter. Glassman Wealth Services now owns 686 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 654 shares in the last quarter. Community Bank N.A. acquired a new position in shares of Webster Financial in the first quarter valued at about $39,000. Finally, Quadrant Capital Group LLC grew its stake in shares of Webster Financial by 616.0% in the first quarter. Quadrant Capital Group LLC now owns 852 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 733 shares in the last quarter. Institutional investors own 45.99% of the company’s stock.
Analyst Ratings Changes
Several research firms recently commented on WBS. Raymond James decreased their price target on shares of Webster Financial from $73.00 to $57.00 and set a “strong-buy” rating on the stock in a research note on Thursday, July 7th. StockNews.com downgraded shares of Webster Financial from a “hold” rating to a “sell” rating in a research note on Monday, May 2nd. Compass Point cut their price objective on shares of Webster Financial to $77.00 in a research report on Friday, July 22nd. TheStreet cut shares of Webster Financial from a “b” rating to a “c+” rating in a report on Thursday, April 28th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Webster Financial from $61.00 to $51.00 and set a “neutral” rating for the company in a report on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $61.25.
Insider Transactions at Webster Financial
Webster Financial Stock Performance
Shares of NYSE WBS traded up $0.98 during mid-day trading on Friday, reaching $46.58. 474,619 shares of the company’s stock were exchanged, compared to its average volume of 979,087. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of 15.07 and a beta of 1.30. Webster Financial Co. has a 52 week low of $40.72 and a 52 week high of $65.00. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a 50-day moving average price of $45.22 and a two-hundred day moving average price of $51.38.
Webster Financial (NYSE:WBS – Get Rating) last posted its earnings results on Thursday, July 21st. The financial services provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. The business had revenue of $607.60 million during the quarter, compared to analyst estimates of $602.36 million. Webster Financial had a return on equity of 11.53% and a net margin of 20.70%. The company’s quarterly revenue was up 106.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 EPS. Analysts predict that Webster Financial Co. will post 5.36 EPS for the current year.
Webster Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 17th. Stockholders of record on Tuesday, August 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Monday, August 1st. Webster Financial’s payout ratio is 51.78%.
Webster Financial Company Profile
Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Retail Banking.
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