Vestmark Advisory Solutions Inc. Purchases New Holdings in Webster Financial Co. (NYSE:WBS)

Vestmark Advisory Solutions Inc. purchased a new position in shares of Webster Financial Co. (NYSE:WBS) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 4,778 shares of the financial services provider’s stock, valued at approximately $243,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. FMR LLC raised its position in shares of Webster Financial by 22.6% in the third quarter. FMR LLC now owns 7,258,411 shares of the financial services provider’s stock valued at $292,587,000 after purchasing an additional 1,339,862 shares during the period. American Century Companies Inc. lifted its position in Webster Financial by 1,773.9% during the third quarter. American Century Companies Inc. now owns 1,324,457 shares of the financial services provider’s stock worth $53,389,000 after acquiring an additional 1,253,778 shares during the last quarter. Swiss National Bank bought a new stake in shares of Webster Financial during the fourth quarter worth approximately $17,329,000. Deroy & Devereaux Private Investment Counsel Inc. grew its position in shares of Webster Financial by 422.1% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 319,832 shares of the financial services provider’s stock valued at $12,892,000 after purchasing an additional 258,572 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Webster Financial by 20.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,205,264 shares of the financial services provider’s stock worth $48,584,000 after purchasing an additional 204,221 shares during the period. Institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Performance

Webster Financial stock opened at $45.65 on Wednesday. The business has a 50 day moving average of $47.52 and a 200-day moving average of $46.88. 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 1 year low of $31.62 and a 1 year high of $53.39. The company has a market capitalization of $7.84 billion, a P/E ratio of 9.35, a P/E/G ratio of 0.40 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 (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.02). Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The business had revenue of $667.10 million during the quarter, compared to analyst estimates of $680.72 million. During the same quarter last year, the company posted $1.49 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. On average, equities research analysts predict that Webster Financial Co. will post 5.62 earnings per share for the current year.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Friday, May 3rd. Webster Financial’s payout ratio is presently 32.79%.

Insider Activity

In related news, insider Daniel Bley sold 2,280 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

WBS has been the topic of a number of research reports. Keefe, Bruyette & Woods decreased their price objective on Webster Financial from $64.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Raymond James reaffirmed an “outperform” rating and set a $60.00 price target on shares of Webster Financial in a research report on Tuesday, March 26th. Bank of America assumed coverage on shares of Webster Financial in a report on Thursday, January 11th. They issued a “buy” rating and a $60.00 price objective for the company. Citigroup lowered their target price on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Finally, Morgan Stanley boosted their price target on Webster Financial from $51.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.23.

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.