Fourthstone LLC Increases Stake in Webster Financial Co. (NYSE:WBS)

Fourthstone LLC raised its position in shares of Webster Financial Co. (NYSE:WBS) by 569.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 82,100 shares of the financial services provider’s stock after acquiring an additional 69,832 shares during the period. Webster Financial makes up approximately 0.9% of Fourthstone LLC’s holdings, making the stock its 25th largest holding. Fourthstone LLC’s holdings in Webster Financial were worth $3,827,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in Webster Financial in the third quarter worth about $27,000. UMB Bank n.a. grew its stake in shares of Webster Financial by 340.7% in the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock worth $28,000 after buying an additional 460 shares during the last quarter. Hantz Financial Services Inc. bought a new position in Webster Financial during the 2nd quarter valued at approximately $32,000. Brooklyn Investment Group bought a new stake in Webster Financial in the third quarter worth $53,000. Finally, Mather Group LLC. grew its stake in shares of Webster Financial by 7,650.0% in the second quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 1,224 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WBS. StockNews.com downgraded shares of Webster Financial from a “hold” rating to a “sell” rating in a research note on Monday, November 18th. Wedbush lifted their target price on Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. JPMorgan Chase & Co. lowered their price target on Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Morgan Stanley dropped their price target on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. Finally, Barclays increased their price objective on shares of Webster Financial from $60.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Webster Financial presently has an average rating of “Moderate Buy” and an average price target of $57.85.

Insiders Place Their Bets

In related news, Director Mark Pettie sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total transaction of $230,130.00. Following the completion of the sale, the director now directly owns 32,780 shares of the company’s stock, valued at approximately $1,676,369.20. This trade represents a 12.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Bley sold 3,463 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $52.10, for a total value of $180,422.30. Following the completion of the transaction, the insider now directly owns 19,529 shares in the company, valued at $1,017,460.90. This trade represents a 15.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,750 shares of company stock valued at $2,074,367 over the last three months. 0.88% of the stock is owned by company insiders.

Webster Financial Price Performance

Shares of NYSE:WBS traded up $0.03 on Thursday, reaching $62.05. The company’s stock had a trading volume of 624,922 shares, compared to its average volume of 1,402,312. The company has a 50-day simple moving average of $52.08 and a 200 day simple moving average of $47.27. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $10.64 billion, a P/E ratio of 14.07, a PEG ratio of 0.92 and a beta of 1.27. Webster Financial Co. has a 52-week low of $39.33 and a 52-week high of $63.99.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.01). The company had revenue of $647.62 million for the quarter, compared to the consensus estimate of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same period in the previous year, the firm earned $1.55 earnings per share. As a group, equities research analysts anticipate that Webster Financial Co. will post 5.24 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a yield of 2.58%. Webster Financial’s dividend payout ratio is presently 36.28%.

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.