Basswood Capital Management L.L.C. Has $82.85 Million Stock Holdings in Webster Financial Co. (NYSE:WBS)

Basswood Capital Management L.L.C. raised its position in shares of Webster Financial Co. (NYSE:WBS) by 5.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,777,413 shares of the financial services provider’s stock after purchasing an additional 93,929 shares during the period. Webster Financial makes up approximately 4.3% of Basswood Capital Management L.L.C.’s holdings, making the stock its 2nd largest holding. Basswood Capital Management L.L.C. owned approximately 1.04% of Webster Financial worth $82,845,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its holdings in shares of Webster Financial by 11.3% in the 1st quarter. Tidal Investments LLC now owns 10,559 shares of the financial services provider’s stock worth $536,000 after acquiring an additional 1,069 shares during the last quarter. Atria Investments Inc bought a new stake in Webster Financial in the first quarter worth $1,049,000. Cetera Investment Advisers boosted its position in Webster Financial by 402.4% during the first quarter. Cetera Investment Advisers now owns 32,066 shares of the financial services provider’s stock valued at $1,628,000 after buying an additional 25,683 shares during the period. Cetera Advisors LLC grew its stake in shares of Webster Financial by 24.4% during the first quarter. Cetera Advisors LLC now owns 7,307 shares of the financial services provider’s stock valued at $371,000 after buying an additional 1,435 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Webster Financial by 30.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,629 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 377 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wedbush lifted their price target on Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley lowered their price target on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, September 30th. Royal Bank of Canada boosted their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Stephens set a $58.00 price target on Webster Financial in a report on Thursday, October 17th. Finally, Wells Fargo & Company increased their price objective on Webster Financial from $50.00 to $60.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.85.

Webster Financial Price Performance

Shares of WBS stock opened at $61.78 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. The stock has a market cap of $10.59 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 0.91 and a beta of 1.27. The business’s fifty day moving average is $52.93 and its 200 day moving average is $47.60. Webster Financial Co. has a twelve month low of $39.33 and a twelve month high of $63.99.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results 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). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The company had revenue of $647.62 million during the quarter, compared to analysts’ expectations of $677.72 million. During the same quarter in the previous year, the company earned $1.55 EPS. Research analysts expect that Webster Financial Co. will post 5.24 EPS for the current fiscal year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial’s dividend payout ratio (DPR) is currently 36.28%.

Insider Transactions at Webster Financial

In other news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $59.33, for a total transaction of $474,640.00. Following the transaction, the chief executive officer now directly owns 218,924 shares of the company’s stock, valued at $12,988,760.92. The trade was a 3.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lauren States sold 1,650 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $60.60, for a total transaction of $99,990.00. Following the completion of the sale, the director now directly owns 15,023 shares of the company’s stock, valued at approximately $910,393.80. This trade represents a 9.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,750 shares of company stock worth $2,074,367 over the last quarter. 0.88% of the stock is currently owned by insiders.

Webster Financial Company 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.