Shelton Capital Management Invests $361,000 in Webster Financial Corporation (WBS) Stock

Shelton Capital Management bought a new position in shares of Webster Financial Corporation (NYSE:WBS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,910 shares of the financial services provider’s stock, valued at approximately $361,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Seven Eight Capital LP bought a new stake in Webster Financial Corporation during the second quarter worth $141,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Webster Financial Corporation by 9.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,147 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 274 shares during the last quarter. Sky Investment Group LLC bought a new stake in Webster Financial Corporation during the second quarter worth $200,000. Advisor Group Inc. lifted its stake in Webster Financial Corporation by 13.3% during the second quarter. Advisor Group Inc. now owns 4,038 shares of the financial services provider’s stock worth $211,000 after purchasing an additional 474 shares during the last quarter. Finally, BB&T Securities LLC bought a new stake in Webster Financial Corporation during the second quarter worth $212,000. Hedge funds and other institutional investors own 93.67% of the company’s stock.

In other news, EVP Nitin J. Mhatre sold 31,940 shares of Webster Financial Corporation stock in a transaction on Wednesday, August 2nd. The shares were 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 directly owns 23,120 shares of the company’s stock, valued at approximately $1,186,980.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel Bley sold 8,000 shares of Webster Financial Corporation stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $51.20, for a total transaction of $409,600.00. Following the sale, the executive vice president now directly owns 25,657 shares of the company’s stock, valued at $1,313,638.40. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

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Webster Financial Corporation (NYSE WBS) opened at 53.04 on Friday. Webster Financial Corporation has a one year low of $36.96 and a one year high of $57.50. The firm has a market capitalization of $4.88 billion, a P/E ratio of 22.10 and a beta of 1.26. The stock’s 50 day moving average is $49.48 and its 200 day moving average is $50.38.

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

WBS has been the subject of several recent analyst reports. Zacks Investment Research upgraded Webster Financial Corporation from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Saturday, July 8th. ValuEngine upgraded shares of Webster Financial Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Jefferies Group LLC reiterated a “hold” rating and set a $53.00 price target on shares of Webster Financial Corporation in a report on Friday, July 14th. BidaskClub downgraded shares of Webster Financial Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, Wedbush reiterated an “outperform” rating and set a $60.00 price target on shares of Webster Financial Corporation in a report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $53.00.

Webster Financial Corporation 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, which includes government and institutional banking.

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

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