Dynamic Technology Lab Private Ltd Grows Position in Webster Financial Corporation $WBS

Dynamic Technology Lab Private Ltd raised its stake in shares of Webster Financial Corporation (NYSE:WBS) by 39.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,300 shares of the financial services provider’s stock after acquiring an additional 4,330 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Webster Financial were worth $835,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Webster Financial by 7.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,108,082 shares of the financial services provider’s stock worth $366,408,000 after purchasing an additional 487,264 shares in the last quarter. Nuveen LLC acquired a new position in Webster Financial in the 1st quarter worth about $23,603,000. AQR Capital Management LLC lifted its position in shares of Webster Financial by 229.9% during the 1st quarter. AQR Capital Management LLC now owns 487,804 shares of the financial services provider’s stock valued at $24,732,000 after buying an additional 339,950 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Webster Financial by 29,356.4% during the first quarter. Jones Financial Companies Lllp now owns 217,388 shares of the financial services provider’s stock valued at $11,206,000 after purchasing an additional 216,650 shares in the last quarter. Finally, Algebris UK Ltd boosted its holdings in Webster Financial by 122.9% in the 1st quarter. Algebris UK Ltd now owns 372,647 shares of the financial services provider’s stock worth $17,784,000 after buying an additional 205,501 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Insiders Place Their Bets

In other Webster Financial news, insider James Mi Griffin sold 807 shares of Webster Financial stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $62.14, for a total value of $50,146.98. Following the sale, the insider owned 12,556 shares of the company’s stock, valued at approximately $780,229.84. The trade was a 6.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $55.45, for a total transaction of $443,600.00. Following the completion of the transaction, the chief executive officer owned 231,872 shares of the company’s stock, valued at $12,857,302.40. This represents a 3.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 11,807 shares of company stock valued at $678,527. 0.54% of the stock is owned by company insiders.

Webster Financial Trading Up 3.3%

Shares of Webster Financial stock opened at $57.66 on Friday. The company has a fifty day simple moving average of $57.85 and a 200-day simple moving average of $56.95. The stock has a market cap of $9.30 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 0.50 and a beta of 1.13. Webster Financial Corporation has a 12-month low of $39.43 and a 12-month high of $63.99. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.42.

Webster Financial (NYSE:WBS) last posted its 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 return on equity of 11.07% and a net margin of 21.32%.The business had revenue of $756.06 million for the quarter, compared to analysts’ expectations of $725.22 million. During the same quarter in the previous year, the firm earned $1.34 earnings per share. On average, equities analysts forecast that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, November 10th. Webster Financial’s dividend payout ratio is presently 29.80%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WBS. Raymond James Financial reaffirmed an “outperform” rating and set a $65.00 target price (down previously from $68.00) on shares of Webster Financial in a research note on Monday, October 20th. Morgan Stanley raised their target price on Webster Financial from $64.00 to $77.00 and gave the stock an “underperform” rating in a research note on Monday, September 29th. TD Cowen initiated coverage on shares of Webster Financial in a research note on Thursday, September 25th. They issued a “buy” rating and a $78.00 price target on the stock. Wells Fargo & Company cut their price objective on Webster Financial from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Finally, Cowen initiated coverage on shares of Webster Financial in a report on Wednesday, September 24th. They set a “buy” rating on the stock. Thirteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Webster Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.85.

About Webster Financial

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.