85,605 Shares in Webster Financial Co. (NYSE:WBS) Purchased by King Luther Capital Management Corp

King Luther Capital Management Corp bought a new position in shares of Webster Financial Co. (NYSE:WBS) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 85,605 shares of the financial services provider’s stock, valued at approximately $4,345,000.

A number of other hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in Webster Financial by 29.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 255 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Webster Financial by 1.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 19,924 shares of the financial services provider’s stock worth $785,000 after buying an additional 263 shares during the period. Spire Wealth Management grew its position in shares of Webster Financial by 79.1% during the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after buying an additional 268 shares during the period. Mariner LLC grew its position in shares of Webster Financial by 2.4% during the 3rd quarter. Mariner LLC now owns 13,812 shares of the financial services provider’s stock worth $557,000 after buying an additional 320 shares during the period. Finally, Teacher Retirement System of Texas grew its position in shares of Webster Financial by 2.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 13,537 shares of the financial services provider’s stock worth $546,000 after buying an additional 332 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Stock Down 0.8 %

WBS traded down $0.35 during trading on Thursday, reaching $44.77. The company had a trading volume of 74,247 shares, compared to its average volume of 1,155,510. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.86 and a quick ratio of 0.86. Webster Financial Co. has a 12 month low of $34.85 and a 12 month high of $53.39. The business’s fifty day moving average price is $47.02 and its 200 day moving average price is $47.43. The company has a market cap of $7.68 billion, a P/E ratio of 9.25, a PEG ratio of 0.56 and a beta of 1.35.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The company had revenue of $667.10 million during the quarter, compared to the consensus estimate of $680.72 million. During the same period in the previous year, the firm posted $1.49 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts anticipate that Webster Financial Co. will post 5.57 EPS for the current year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were issued a $0.40 dividend. The ex-dividend date was Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.57%. Webster Financial’s dividend payout ratio (DPR) is presently 32.79%.

Insider Activity

In other news, insider Daniel Bley sold 2,280 shares of Webster Financial stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $44.80, for a total value of $102,144.00. Following the sale, the insider now directly owns 28,693 shares in the company, valued at $1,285,446.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WBS. Royal Bank of Canada lowered their price target on shares of Webster Financial from $57.00 to $54.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Raymond James reiterated an “outperform” rating and set a $60.00 price target on shares of Webster Financial in a research report on Tuesday, March 26th. StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Morgan Stanley lifted their price objective on shares of Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Finally, Jefferies Financial Group reduced their price objective on shares of Webster Financial from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Webster Financial presently has an average rating of “Moderate Buy” and a consensus target price of $56.23.

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.