Chicago Equity Partners LLC grew its position in shares of Webster Financial Co. (NYSE:WBS) by 247.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,295 shares of the financial services provider’s stock after buying an additional 10,895 shares during the period. Chicago Equity Partners LLC’s holdings in Webster Financial were worth $902,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Signition LP acquired a new stake in Webster Financial in the 3rd quarter valued at approximately $245,000. Victory Capital Management Inc. increased its position in Webster Financial by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 57,137 shares of the financial services provider’s stock valued at $3,369,000 after acquiring an additional 4,573 shares during the period. Patriot Financial Group Insurance Agency LLC increased its position in Webster Financial by 62.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,121 shares of the financial services provider’s stock valued at $302,000 after acquiring an additional 1,975 shares during the period. Frontier Capital Management Co. LLC increased its position in Webster Financial by 14.1% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 2,162,598 shares of the financial services provider’s stock valued at $127,507,000 after acquiring an additional 267,332 shares during the period. Finally, Arizona State Retirement System increased its position in Webster Financial by 2.4% in the 3rd quarter. Arizona State Retirement System now owns 65,486 shares of the financial services provider’s stock valued at $3,861,000 after acquiring an additional 1,544 shares during the period. 91.80% of the stock is currently owned by institutional investors.

In other news, Director John Joseph Crawford sold 2,000 shares of Webster Financial stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $59.77, for a total transaction of $119,540.00. Following the transaction, the director now directly owns 8,792 shares in the company, valued at approximately $525,497.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.96% of the stock is currently owned by company insiders.

WBS has been the topic of several analyst reports. Boenning Scattergood restated a “hold” rating on shares of Webster Financial in a research report on Friday, October 19th. Zacks Investment Research upgraded Webster Financial from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research report on Wednesday, October 24th. Barclays raised their target price on Webster Financial from $67.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, July 20th. ValuEngine upgraded Webster Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, August 8th. Finally, Morgan Stanley restated a “sell” rating and issued a $60.00 target price (down from $62.00) on shares of Webster Financial in a research report on Tuesday, September 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Webster Financial presently has an average rating of “Hold” and an average target price of $62.50.

Shares of WBS stock opened at $59.21 on Thursday. Webster Financial Co. has a 1 year low of $51.69 and a 1 year high of $69.63. The firm has a market cap of $5.51 billion, a PE ratio of 22.86, a PEG ratio of 2.01 and a beta of 1.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.82 and a current ratio of 0.82.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Thursday, October 18th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.12. Webster Financial had a return on equity of 12.36% and a net margin of 25.77%. The company had revenue of $302.66 million for the quarter, compared to analysts’ expectations of $299.30 million. During the same period last year, the firm earned $0.67 EPS. As a group, research analysts expect that Webster Financial Co. will post 3.71 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Monday, November 5th. Webster Financial’s dividend payout ratio (DPR) is presently 50.97%.

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About Webster Financial

Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides financial services to individuals, families, and businesses in the United States. It operates through four segments: Commercial Banking, Community Banking, HSA Bank, and Private Banking.

Further Reading: Hedge Funds – Risk or Reward?

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Institutional Ownership by Quarter for Webster Financial (NYSE:WBS)

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