First Eagle Investment Management LLC Acquires 67,752 Shares of Webster Financial Corporation $WBS

First Eagle Investment Management LLC raised its stake in shares of Webster Financial Corporation (NYSE:WBS) by 54.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,874 shares of the financial services provider’s stock after buying an additional 67,752 shares during the quarter. First Eagle Investment Management LLC owned about 0.11% of Webster Financial worth $10,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Amundi raised its holdings in shares of Webster Financial by 699.7% during the 1st quarter. Amundi now owns 137,740 shares of the financial services provider’s stock worth $7,100,000 after acquiring an additional 120,516 shares in the last quarter. LPL Financial LLC increased its position in Webster Financial by 9.9% in the first quarter. LPL Financial LLC now owns 77,103 shares of the financial services provider’s stock worth $3,975,000 after purchasing an additional 6,948 shares during the last quarter. Great Lakes Advisors LLC increased its position in Webster Financial by 3,066.1% in the first quarter. Great Lakes Advisors LLC now owns 126,012 shares of the financial services provider’s stock worth $6,496,000 after purchasing an additional 122,032 shares during the last quarter. Hunter Perkins Capital Management LLC raised its stake in Webster Financial by 15.9% during the second quarter. Hunter Perkins Capital Management LLC now owns 118,256 shares of the financial services provider’s stock valued at $6,457,000 after purchasing an additional 16,211 shares in the last quarter. Finally, Allworth Financial LP lifted its position in Webster Financial by 43.7% during the first quarter. Allworth Financial LP now owns 941 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 286 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

Webster Financial Price Performance

WBS opened at $57.52 on Friday. The business has a fifty day moving average of $58.94 and a 200 day moving average of $56.29. The stock has a market cap of $9.56 billion, a P/E ratio of 10.71, a PEG ratio of 0.50 and a beta of 1.13. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. Webster Financial Corporation has a 52-week low of $39.43 and a 52-week high of $63.99.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Friday, October 17th. The financial services provider reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.02. Webster Financial had a net margin of 21.32% and a return on equity of 11.07%. The firm had revenue of $732.60 million for the quarter, compared to analysts’ expectations of $725.22 million. During the same period in the prior year, the business posted $1.34 earnings per share. As a group, sell-side analysts anticipate that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, November 10th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, November 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.8%. Webster Financial’s dividend payout ratio (DPR) is currently 29.80%.

Insider Activity at Webster Financial

In related news, insider James Mi Griffin sold 807 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $62.14, for a total value of $50,146.98. Following the completion of the transaction, the insider owned 12,556 shares of the company’s stock, valued at $780,229.84. The trade was a 6.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Elzbieta Cieslik sold 2,000 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $61.58, for a total transaction of $123,160.00. Following the completion of the transaction, the chief accounting officer owned 14,894 shares of the company’s stock, valued at $917,172.52. This represents a 11.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,807 shares of company stock valued at $698,527 over the last ninety days. 0.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Webster Financial from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Friday, July 18th. Wells Fargo & Company dropped their price target on Webster Financial from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. Barclays reissued an “overweight” rating and set a $78.00 price objective on shares of Webster Financial in a research note on Wednesday, October 8th. Citigroup raised their price objective on Webster Financial from $65.00 to $71.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $65.00 target price (down previously from $68.00) on shares of Webster Financial in a report on Monday, October 20th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.69.

Webster Financial 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.