Quantbot Technologies LP Acquires Shares of 102,549 Webster Financial Co. (NYSE:WBS)

Quantbot Technologies LP bought a new position in shares of Webster Financial Co. (NYSE:WBS) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 102,549 shares of the financial services provider’s stock, valued at approximately $4,470,000.

Several other hedge funds have also modified their holdings of the stock. Rise Advisors LLC bought a new position in Webster Financial in the 1st quarter worth approximately $29,000. Hantz Financial Services Inc. bought a new stake in shares of Webster Financial during the second quarter worth $32,000. Principal Securities Inc. bought a new stake in shares of Webster Financial during the fourth quarter worth $45,000. EverSource Wealth Advisors LLC lifted its stake in shares of Webster Financial by 29.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 255 shares during the period. Finally, Mather Group LLC. boosted its holdings in Webster Financial by 7,650.0% in the second quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 1,224 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on WBS shares. Barclays cut their target price on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. JPMorgan Chase & Co. dropped their price objective on Webster Financial from $63.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, June 27th. Keefe, Bruyette & Woods reduced their target price on Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, July 9th. Jefferies Financial Group lowered their price target on Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Finally, Morgan Stanley lowered shares of Webster Financial from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $54.00 to $57.00 in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.36.

Webster Financial Stock Performance

Shares of WBS opened at $45.18 on Tuesday. The firm has a market cap of $7.75 billion, a P/E ratio of 9.26, a PEG ratio of 0.65 and a beta of 1.28. Webster Financial Co. has a twelve month low of $36.36 and a twelve month high of $53.39. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 0.85. The firm’s 50 day moving average price is $45.97 and its two-hundred day moving average price is $45.65.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $1.26 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.08). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $671.91 million. Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. During the same period in the prior year, the firm posted $1.50 earnings per share. On average, analysts forecast that Webster Financial Co. will post 5.27 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Monday, July 29th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend was Monday, July 29th. Webster Financial’s dividend payout ratio is presently 32.79%.

Insiders Place Their Bets

In other news, insider Charles L. Wilkins sold 5,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $49.07, for a total value of $245,350.00. Following the sale, the insider now owns 45,157 shares of the company’s stock, valued at $2,215,853.99. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Charles L. Wilkins sold 5,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $49.07, for a total transaction of $245,350.00. Following the completion of the transaction, the insider now directly owns 45,157 shares in the company, valued at approximately $2,215,853.99. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jason A. Soto sold 1,650 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total value of $76,428.00. Following the sale, the insider now owns 20,539 shares in the company, valued at approximately $951,366.48. The disclosure for this sale can be found here. Insiders sold a total of 14,650 shares of company stock valued at $706,098 in the last quarter. 0.88% of the stock is currently owned by insiders.

Webster Financial Company 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.