IronBridge Capital Management LP Acquires Shares of 220,595 Webster Financial Corporation (WBS)
IronBridge Capital Management LP acquired a new stake in shares of Webster Financial Corporation (NYSE:WBS) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 220,595 shares of the financial services provider’s stock, valued at approximately $11,039,000. IronBridge Capital Management LP owned approximately 0.24% of Webster Financial Corporation at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. NBW Capital LLC boosted its position in shares of Webster Financial Corporation by 111.1% in the third quarter. NBW Capital LLC now owns 75,596 shares of the financial services provider’s stock valued at $2,873,000 after buying an additional 39,780 shares in the last quarter. BlackRock Advisors LLC boosted its position in Webster Financial Corporation by 8.6% in the third quarter. BlackRock Advisors LLC now owns 55,770 shares of the financial services provider’s stock worth $2,120,000 after buying an additional 4,437 shares during the period. BlackRock Group LTD boosted its position in Webster Financial Corporation by 0.8% in the third quarter. BlackRock Group LTD now owns 70,671 shares of the financial services provider’s stock worth $2,686,000 after buying an additional 554 shares during the period. Principal Financial Group Inc. boosted its position in Webster Financial Corporation by 4.2% in the third quarter. Principal Financial Group Inc. now owns 356,532 shares of the financial services provider’s stock worth $13,551,000 after buying an additional 14,336 shares during the period. Finally, Riverhead Capital Management LLC boosted its position in Webster Financial Corporation by 83.1% in the third quarter. Riverhead Capital Management LLC now owns 2,900 shares of the financial services provider’s stock worth $110,000 after buying an additional 1,316 shares during the period. 97.97% of the stock is currently owned by institutional investors.
Shares of Webster Financial Corporation (NYSE WBS) opened at 52.88 on Monday. The firm has a market cap of $4.88 billion, a P/E ratio of 23.09 and a beta of 1.27. The company’s 50-day moving average is $50.81 and its 200-day moving average is $52.21. Webster Financial Corporation has a 52-week low of $31.29 and a 52-week 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 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.05. The company had revenue of $255.70 million during the quarter, compared to analysts’ expectations of $254.48 million. Webster Financial Corporation had a return on equity of 9.16% and a net margin of 19.88%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm posted $0.49 earnings per share. Equities research analysts forecast that Webster Financial Corporation will post $2.47 earnings per share for the current fiscal 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 a boost 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 of this dividend was Thursday, May 4th. Webster Financial Corporation’s dividend payout ratio (DPR) is presently 45.42%.
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A number of brokerages recently commented on WBS. Jefferies Group LLC set a $53.00 price objective on shares of Webster Financial Corporation and gave the company a “hold” rating in a research note on Saturday, May 6th. BidaskClub raised shares of Webster Financial Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Barclays PLC increased their price objective on shares of Webster Financial Corporation from $50.00 to $52.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 25th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $55.00 target price on shares of Webster Financial Corporation in a report on Monday, April 10th. Finally, Zacks Investment Research lowered shares of Webster Financial Corporation from a “buy” rating to a “hold” rating in a report on Friday, April 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Webster Financial Corporation presently has a consensus rating of “Hold” and a consensus price target of $48.94.
In other Webster Financial Corporation news, Director Mark Pettie sold 3,987 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $50.53, for a total transaction of $201,463.11. Following the transaction, the director now owns 18,471 shares in the company, valued at approximately $933,339.63. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Laurence C. Morse sold 4,971 shares of the firm’s stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $51.88, for a total value of $257,895.48. Following the transaction, the director now owns 28,210 shares in the company, valued at approximately $1,463,534.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,214 shares of company stock valued at $1,364,548. 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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