Trillium Asset Management LLC increased its position in Webster Financial Co. (NYSE:WBS) by 4.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 54,070 shares of the financial services provider’s stock after purchasing an additional 2,328 shares during the period. Trillium Asset Management LLC’s holdings in Webster Financial were worth $2,740,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Enlightenment Research LLC purchased a new position in Webster Financial during the 4th quarter valued at $25,000. JOYN Advisors Inc. boosted its holdings in shares of Webster Financial by 413.7% during the 4th quarter. JOYN Advisors Inc. now owns 524 shares of the financial services provider’s stock valued at $26,000 after buying an additional 422 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Webster Financial by 4,934.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,816,632 shares of the financial services provider’s stock valued at $37,000 after buying an additional 1,780,548 shares in the last quarter. Harvest Group Wealth Management LLC bought a new stake in shares of Webster Financial during the 1st quarter valued at $58,000. Finally, Toronto Dominion Bank bought a new stake in shares of Webster Financial during the 4th quarter valued at $74,000. 91.28% of the stock is currently owned by institutional investors.
In related news, EVP Daniel Bley sold 4,000 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $52.39, for a total value of $209,560.00. Following the transaction, the executive vice president now owns 20,654 shares in the company, valued at approximately $1,082,063.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Joseph Crawford sold 600 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $53.60, for a total transaction of $32,160.00. Following the completion of the transaction, the director now owns 17,099 shares in the company, valued at approximately $916,506.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,100 shares of company stock worth $321,865. 1.53% of the stock is currently owned by company insiders.
Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.05. The company had revenue of $310.20 million for the quarter, compared to analysts’ expectations of $310.46 million. Webster Financial had a net margin of 27.57% and a return on equity of 13.77%. Webster Financial’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 EPS. On average, equities analysts expect that Webster Financial Co. will post 4.17 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 6th will be paid a $0.40 dividend. This is a boost from Webster Financial’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.22%. Webster Financial’s payout ratio is presently 42.78%.
A number of brokerages have recently commented on WBS. Compass Point began coverage on shares of Webster Financial in a report on Tuesday, May 7th. They set a “buy” rating on the stock. Barclays dropped their target price on shares of Webster Financial from $68.00 to $62.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. Zacks Investment Research upgraded shares of Webster Financial from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Tuesday, March 12th. ValuEngine cut shares of Webster Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Finally, Boenning Scattergood restated a “hold” rating on shares of Webster Financial in a report on Thursday, January 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $62.40.
Webster Financial Profile
Webster Financial Corporation operates as the 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 Community Banking.
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