Vestcor Inc Takes Position in Webster Financial Corporation $WBS

Vestcor Inc bought a new position in Webster Financial Corporation (NYSE:WBS) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,091 shares of the financial services provider’s stock, valued at approximately $1,194,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Root Financial Partners LLC purchased a new stake in Webster Financial in the 3rd quarter worth about $29,000. Wilmington Savings Fund Society FSB purchased a new position in Webster Financial during the 3rd quarter valued at about $33,000. Parkside Financial Bank & Trust grew its stake in Webster Financial by 56.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 829 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 298 shares in the last quarter. Quent Capital LLC acquired a new position in shares of Webster Financial in the 3rd quarter valued at about $47,000. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Webster Financial by 81.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,107 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 497 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Jefferies Financial Group set a $75.00 price target on shares of Webster Financial in a report on Wednesday, February 4th. UBS Group lowered shares of Webster Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $77.00 to $75.00 in a research note on Thursday, February 5th. JPMorgan Chase & Co. increased their target price on shares of Webster Financial from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Royal Bank Of Canada cut shares of Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a report on Wednesday, February 4th. Finally, Wells Fargo & Company raised shares of Webster Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $74.50.

Webster Financial Stock Down 0.5%

Webster Financial stock opened at $68.77 on Thursday. The firm has a market cap of $11.09 billion, a price-to-earnings ratio of 11.64 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. Webster Financial Corporation has a fifty-two week low of $39.43 and a fifty-two week high of $74.00. The firm has a fifty day moving average price of $68.34 and a two-hundred day moving average price of $62.90.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Friday, January 23rd. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.07. The company had revenue of $760.48 million for the quarter, compared to the consensus estimate of $731.95 million. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.During the same period last year, the business posted $1.43 earnings per share. As a group, analysts forecast that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Monday, February 9th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. Webster Financial’s dividend payout ratio (DPR) is 27.07%.

Webster Financial Company Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.