Polaris Capital Management LLC Increases Position in Webster Financial Corporation (WBS)

Polaris Capital Management LLC boosted its stake in Webster Financial Corporation (NYSE:WBS) by 1.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 578,741 shares of the financial services provider’s stock after buying an additional 8,100 shares during the period. Webster Financial Corporation makes up 1.8% of Polaris Capital Management LLC’s portfolio, making the stock its 23rd largest holding. Polaris Capital Management LLC owned 0.63% of Webster Financial Corporation worth $30,222,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Castleark Management LLC grew its stake in Webster Financial Corporation by 24.1% in the 2nd quarter. Castleark Management LLC now owns 141,990 shares of the financial services provider’s stock valued at $7,415,000 after buying an additional 27,605 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new position in Webster Financial Corporation in the 2nd quarter valued at about $7,481,000. Shelton Capital Management acquired a new position in Webster Financial Corporation in the 2nd quarter valued at about $361,000. Flinton Capital Management LLC grew its stake in Webster Financial Corporation by 42.1% in the 2nd quarter. Flinton Capital Management LLC now owns 4,480 shares of the financial services provider’s stock valued at $234,000 after buying an additional 1,328 shares during the last quarter. Finally, Clinton Group Inc. grew its stake in Webster Financial Corporation by 133.4% in the 2nd quarter. Clinton Group Inc. now owns 16,482 shares of the financial services provider’s stock valued at $861,000 after buying an additional 9,419 shares during the last quarter. Institutional investors and hedge funds own 93.67% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by Markets Daily and is the property of of Markets Daily. If you are reading this piece of content on another domain, it was stolen and republished in violation of international trademark and copyright laws. The original version of this piece of content can be accessed at https://www.themarketsdaily.com/2017/10/12/polaris-capital-management-llc-increases-position-in-webster-financial-corporation-wbs.html.

In other news, EVP Daniel Bley sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $51.20, for a total value of $409,600.00. Following the completion of the sale, the executive vice president now directly owns 25,657 shares in the company, valued at approximately $1,313,638.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nitin J. Mhatre sold 31,940 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $51.34, for a total transaction of $1,639,799.60. Following the completion of the sale, the executive vice president now owns 23,120 shares of the company’s stock, valued at $1,186,980.80. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

A number of research analysts recently commented on WBS shares. BidaskClub lowered shares of Webster Financial Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Wedbush restated an “outperform” rating and set a $60.00 target price on shares of Webster Financial Corporation in a research report on Tuesday, June 27th. Zacks Investment Research upgraded shares of Webster Financial Corporation from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Saturday, July 8th. Jefferies Group LLC restated a “hold” rating and set a $53.00 target price on shares of Webster Financial Corporation in a research report on Friday, July 14th. Finally, Piper Jaffray Companies restated a “sell” rating and set a $46.00 target price on shares of Webster Financial Corporation in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Webster Financial Corporation presently has a consensus rating of “Hold” and an average price target of $53.00.

Shares of Webster Financial Corporation (WBS) traded down 0.36% on Thursday, hitting $53.01. 89,783 shares of the company’s stock were exchanged. The firm has a market cap of $4.88 billion, a P/E ratio of 22.09 and a beta of 1.26. Webster Financial Corporation has a 12 month low of $36.96 and a 12 month high of $57.50. The stock’s 50 day moving average is $49.30 and its 200 day moving average is $50.36.

Webster Financial Corporation (NYSE:WBS) last announced its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.04. The firm had revenue of $262.50 million during the quarter, compared to analyst estimates of $260.91 million. Webster Financial Corporation had a net margin of 20.43% and a return on equity of 9.49%. During the same period in the previous year, the business posted $0.53 EPS. On average, equities analysts predict that Webster Financial Corporation will post $2.55 earnings per share for the current year.

About Webster Financial Corporation

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, which includes government and institutional banking.

Want to see what other hedge funds are holding WBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Webster Financial Corporation (NYSE:WBS).

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

Receive News & Ratings for Webster Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Webster Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply