Webster Financial Co. (NYSE:WBS) Shares Purchased by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC grew its stake in shares of Webster Financial Co. (NYSE:WBS) by 56.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,425 shares of the financial services provider’s stock after purchasing an additional 26,575 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Webster Financial were worth $3,727,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its holdings in Webster Financial by 22.6% during the 3rd quarter. FMR LLC now owns 7,258,411 shares of the financial services provider’s stock worth $292,587,000 after buying an additional 1,339,862 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Webster Financial by 1.8% in the third quarter. Bank of New York Mellon Corp now owns 2,732,942 shares of the financial services provider’s stock valued at $110,165,000 after acquiring an additional 48,445 shares during the period. Earnest Partners LLC lifted its holdings in shares of Webster Financial by 8.4% in the 3rd quarter. Earnest Partners LLC now owns 2,394,951 shares of the financial services provider’s stock worth $96,540,000 after purchasing an additional 184,905 shares during the last quarter. Davis Asset Management L.P. grew its stake in Webster Financial by 9.4% during the 3rd quarter. Davis Asset Management L.P. now owns 1,750,000 shares of the financial services provider’s stock worth $70,542,000 after buying an additional 150,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Webster Financial by 13.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,363,237 shares of the financial services provider’s stock valued at $69,198,000 after acquiring an additional 157,973 shares during the period. 85.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Daniel Bley sold 2,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total transaction of $95,200.00. Following the transaction, the insider now owns 27,955 shares of the company’s stock, valued at $1,330,658. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is owned by corporate insiders.

Webster Financial Stock Performance

Shares of WBS stock traded up $0.01 during trading hours on Friday, reaching $45.96. 48,149 shares of the company’s stock were exchanged, compared to its average volume of 1,197,775. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.54. Webster Financial Co. has a fifty-two week low of $31.62 and a fifty-two week high of $53.39. The business has a fifty day moving average price of $47.47 and a 200-day moving average price of $46.87. The stock has a market capitalization of $7.89 billion, a P/E ratio of 9.42, a P/E/G ratio of 0.40 and a beta of 1.35.

Webster Financial (NYSE:WBS) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The firm had revenue of $667.10 million for the quarter, compared to analyst estimates of $680.72 million. During the same period last year, the business earned $1.49 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Analysts predict that Webster Financial Co. will post 5.62 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Friday, May 3rd. Webster Financial’s dividend payout ratio (DPR) is currently 32.79%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Raymond James reaffirmed an “outperform” rating and set a $60.00 target price on shares of Webster Financial in a research note on Tuesday, March 26th. JPMorgan Chase & Co. dropped their price target on shares of Webster Financial from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Barclays reduced their price objective on shares of Webster Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Finally, Morgan Stanley increased their price objective on Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average 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.