AlphaStar Capital Management LLC Makes New Investment in Webster Financial Corporation $WBS

AlphaStar Capital Management LLC purchased a new position in Webster Financial Corporation (NYSE:WBS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,762 shares of the financial services provider’s stock, valued at approximately $205,000.

Several other hedge funds have also added to or reduced their stakes in the business. Perigon Wealth Management LLC lifted its stake in Webster Financial by 4.5% in the second quarter. Perigon Wealth Management LLC now owns 4,348 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 189 shares during the last quarter. PenderFund Capital Management Ltd. lifted its stake in Webster Financial by 4.0% in the first quarter. PenderFund Capital Management Ltd. now owns 5,578 shares of the financial services provider’s stock worth $288,000 after purchasing an additional 215 shares during the last quarter. Beverly Hills Private Wealth LLC lifted its stake in Webster Financial by 4.5% in the first quarter. Beverly Hills Private Wealth LLC now owns 6,058 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 262 shares during the last quarter. Allworth Financial LP lifted its stake in Webster Financial by 43.7% in the first quarter. Allworth Financial LP now owns 941 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 286 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in Webster Financial by 50.3% in the second quarter. Hantz Financial Services Inc. now owns 899 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 301 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. UBS Group reissued a “buy” rating and issued a $69.00 price target on shares of Webster Financial in a research note on Wednesday, July 9th. Keefe, Bruyette & Woods upped their price objective on shares of Webster Financial from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Friday, July 18th. Wells Fargo & Company lowered their price objective on shares of Webster Financial from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Cowen initiated coverage on shares of Webster Financial in a research note on Wednesday, September 24th. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Webster Financial from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Wednesday, October 1st. Thirteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.69.

Webster Financial Price Performance

Shares of NYSE WBS opened at $56.98 on Friday. Webster Financial Corporation has a 1 year low of $39.43 and a 1 year high of $63.99. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.85. The company’s 50-day moving average is $59.45 and its 200 day moving average is $55.94. The stock has a market capitalization of $9.47 billion, a P/E ratio of 10.61, a P/E/G ratio of 0.50 and a beta of 1.05.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Friday, October 17th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.02. Webster Financial had a net margin of 21.32% and a return on equity of 11.07%. The company had revenue of $732.60 million for the quarter, compared to analysts’ expectations of $725.22 million. During the same quarter in the previous year, the company earned $1.34 earnings per share. On average, sell-side analysts expect that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, November 10th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, November 10th. This represents a $1.60 annualized dividend and a dividend yield of 2.8%. Webster Financial’s payout ratio is currently 29.80%.

Insider Activity at Webster Financial

In related news, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $57.95, for a total transaction of $463,600.00. Following the transaction, the chief executive officer owned 239,872 shares in the company, valued at $13,900,582.40. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Elzbieta Cieslik sold 2,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $61.58, for a total transaction of $123,160.00. Following the transaction, the chief accounting officer owned 14,894 shares in the company, valued at $917,172.52. This represents a 11.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 11,807 shares of company stock worth $698,527 over the last 90 days. 0.54% of the stock is owned by company insiders.

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.