Victory Capital Management Inc. Boosts Position in Webster Financial Co. (NYSE:WBS)

Victory Capital Management Inc. increased its stake in Webster Financial Co. (NYSE:WBSFree Report) by 199.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,626 shares of the financial services provider’s stock after buying an additional 65,740 shares during the period. Victory Capital Management Inc. owned 0.06% of Webster Financial worth $5,006,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. NBC Securities Inc. bought a new position in Webster Financial during the 3rd quarter worth about $32,000. Bruce G. Allen Investments LLC bought a new position in Webster Financial during the 4th quarter worth about $42,000. GAMMA Investing LLC bought a new position in Webster Financial during the 4th quarter worth about $69,000. Headlands Technologies LLC bought a new position in Webster Financial during the 4th quarter worth about $127,000. Finally, Covestor Ltd grew its holdings in Webster Financial by 17.0% during the 3rd quarter. Covestor Ltd now owns 3,529 shares of the financial services provider’s stock worth $142,000 after acquiring an additional 513 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Up 0.9 %

WBS stock opened at $46.64 on Thursday. Webster Financial Co. has a 52 week low of $33.17 and a 52 week high of $53.39. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $8.00 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 0.41 and a beta of 1.35. The firm has a 50 day moving average of $47.30 and a 200 day moving average of $47.18.

Webster Financial (NYSE:WBSGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The business had revenue of $667.10 million for the quarter, compared to analysts’ expectations of $680.72 million. During the same period in the prior year, the business posted $1.49 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts forecast that Webster Financial Co. will post 5.62 earnings per share for the current year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Friday, May 3rd. Webster Financial’s dividend payout ratio is presently 32.79%.

Wall Street Analyst Weigh In

WBS has been the topic of several recent research reports. Keefe, Bruyette & Woods dropped their target price on shares of Webster Financial from $64.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Barclays lowered their price target on shares of Webster Financial from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Raymond James restated an “outperform” rating and issued a $60.00 price target on shares of Webster Financial in a report on Tuesday, March 26th. Finally, Royal Bank of Canada lowered their price target on shares of Webster Financial from $57.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Webster Financial currently has an average rating of “Moderate Buy” and a consensus price target of $56.23.

Read Our Latest Stock Report on Webster Financial

Insiders Place Their Bets

In other Webster Financial news, insider Daniel Bley sold 2,280 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $44.80, for a total transaction of $102,144.00. Following the completion of the transaction, the insider now directly owns 28,693 shares of the company’s stock, valued at approximately $1,285,446.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is currently owned by insiders.

About Webster Financial

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Webster Financial (NYSE:WBS)

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