Webster Financial Corporation (WBS) Shares Bought by Alliancebernstein L.P.
Alliancebernstein L.P. increased its stake in shares of Webster Financial Corporation (NYSE:WBS) by 1.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,304,214 shares of the financial services provider’s stock after buying an additional 36,327 shares during the period. Alliancebernstein L.P. owned about 2.50% of Webster Financial Corporation worth $115,303,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. Artisan Partners Limited Partnership boosted its position in shares of Webster Financial Corporation by 90.6% in the first quarter. Artisan Partners Limited Partnership now owns 578,755 shares of the financial services provider’s stock worth $28,961,000 after buying an additional 275,056 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Webster Financial Corporation during the first quarter worth about $1,063,000. American International Group Inc. raised its stake in Webster Financial Corporation by 4.4% in the first quarter. American International Group Inc. now owns 237,010 shares of the financial services provider’s stock worth $11,860,000 after buying an additional 9,904 shares during the period. Arizona State Retirement System raised its stake in Webster Financial Corporation by 2.3% in the first quarter. Arizona State Retirement System now owns 38,300 shares of the financial services provider’s stock worth $1,917,000 after buying an additional 863 shares during the period. Finally, Schroder Investment Management Group raised its stake in Webster Financial Corporation by 6.5% in the first quarter. Schroder Investment Management Group now owns 638,969 shares of the financial services provider’s stock worth $32,351,000 after buying an additional 38,914 shares during the period. 97.97% of the stock is owned by institutional investors and hedge funds.
Webster Financial Corporation (NYSE:WBS) opened at 52.88 on Friday. The stock has a market cap of $4.88 billion, a price-to-earnings ratio of 23.09 and a beta of 1.27. The company’s 50 day moving average price is $50.81 and its 200-day moving average price is $52.21. Webster Financial Corporation has a 12-month low of $31.29 and a 12-month high of $57.50.
Webster Financial Corporation (NYSE:WBS) last released its quarterly earnings data on Friday, April 21st. The financial services provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. The company had revenue of $255.70 million during the quarter, compared to the consensus estimate of $254.48 million. Webster Financial Corporation had a net margin of 19.88% and a return on equity of 9.16%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $0.49 EPS. On average, analysts forecast that Webster Financial Corporation will post $2.47 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, May 22nd. Investors of record on Monday, May 8th were issued a dividend of $0.26 per share. This is an increase from Webster Financial Corporation’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 1.97%. The ex-dividend date was Thursday, May 4th. Webster Financial Corporation’s dividend payout ratio (DPR) is currently 45.42%.
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Several brokerages recently weighed in on WBS. Zacks Investment Research lowered Webster Financial Corporation from a “buy” rating to a “hold” rating in a research report on Friday, April 7th. Barclays PLC increased their price objective on Webster Financial Corporation from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 25th. Keefe, Bruyette & Woods restated a “buy” rating and set a $55.00 price target on shares of Webster Financial Corporation in a research report on Monday, April 10th. BidaskClub upgraded Webster Financial Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Finally, Jefferies Group LLC set a $53.00 price target on Webster Financial Corporation and gave the stock a “hold” rating in a research report on Saturday, May 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $48.94.
In related news, Director Laurence C. Morse sold 4,971 shares of Webster Financial Corporation stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $51.88, for a total transaction of $257,895.48. Following the completion of the transaction, the director now directly owns 28,210 shares of the company’s stock, valued at approximately $1,463,534.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Joseph Crawford sold 2,753 shares of Webster Financial Corporation stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $53.30, for a total transaction of $146,734.90. Following the transaction, the director now directly owns 7,752 shares of the company’s stock, valued at $413,181.60. The disclosure for this sale can be found here. Insiders have sold a total of 26,214 shares of company stock valued at $1,364,548 over the last three months. 2.20% of the stock is currently owned by insiders.
About Webster Financial Corporation
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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