Johnson Investment Counsel Inc. Raises Position in Webster Financial Corporation $WBS

Johnson Investment Counsel Inc. lifted its stake in Webster Financial Corporation (NYSE:WBS) by 1.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 45,563 shares of the financial services provider’s stock after acquiring an additional 493 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Webster Financial were worth $2,488,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of WBS. GAMMA Investing LLC boosted its position in shares of Webster Financial by 48.3% in the first quarter. GAMMA Investing LLC now owns 3,032 shares of the financial services provider’s stock worth $156,000 after buying an additional 987 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Webster Financial by 42.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,517 shares of the financial services provider’s stock worth $800,000 after acquiring an additional 4,653 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Webster Financial by 13.8% in the first quarter. Janney Montgomery Scott LLC now owns 41,994 shares of the financial services provider’s stock worth $2,165,000 after acquiring an additional 5,078 shares in the last quarter. Cardinal Capital Management lifted its stake in shares of Webster Financial by 3.4% in the first quarter. Cardinal Capital Management now owns 51,673 shares of the financial services provider’s stock worth $2,664,000 after acquiring an additional 1,690 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of Webster Financial by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 20,084 shares of the financial services provider’s stock worth $1,035,000 after acquiring an additional 545 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Up 2.5%

NYSE:WBS opened at $57.14 on Tuesday. The firm has a market capitalization of $9.50 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 0.50 and a beta of 1.05. The stock has a 50 day moving average of $59.78 and a 200-day moving average of $54.84. Webster Financial Corporation has a 52 week low of $39.43 and a 52 week high of $63.99. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.47.

Webster Financial (NYSE:WBS) last posted its earnings results on Thursday, July 17th. The financial services provider reported $1.52 EPS for the quarter, beating the consensus estimate of $1.43 by $0.09. Webster Financial had a return on equity of 10.84% and a net margin of 20.06%.The company had revenue of $715.80 million during the quarter, compared to analyst estimates of $716.59 million. During the same period in the prior year, the company earned $1.26 earnings per share. The business’s revenue was up 16.5% compared to the same quarter last year. Analysts predict that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Monday, August 11th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, August 11th. Webster Financial’s dividend payout ratio is 32.45%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Seaport Res Ptn cut Webster Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. Raymond James Financial boosted their price target on Webster Financial from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday, July 18th. Cantor Fitzgerald assumed coverage on Webster Financial in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $70.00 price target on the stock. UBS Group reiterated a “buy” rating and issued a $69.00 price target on shares of Webster Financial in a research note on Wednesday, July 9th. Finally, Cowen began coverage on Webster Financial in a research note on Wednesday, September 24th. They set a “buy” rating on the stock. Fourteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Webster Financial currently has a consensus rating of “Moderate Buy” and an average price target of $68.73.

Insiders Place Their Bets

In related news, insider Jason A. Soto sold 2,500 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $61.21, for a total value of $153,025.00. Following the completion of the transaction, the insider directly owned 18,889 shares of the company’s stock, valued at $1,156,195.69. This represents a 11.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William L. Atwell sold 16,823 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $59.20, for a total value of $995,921.60. Following the completion of the transaction, the director directly owned 30,915 shares of the company’s stock, valued at $1,830,168. This trade represents a 35.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,445 shares of company stock worth $2,168,537. 0.54% of the stock is owned by company 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.