Savant Capital LLC Acquires 31,264 Shares of Webster Financial Corporation $WBS

Savant Capital LLC lifted its stake in Webster Financial Corporation (NYSE:WBS) by 735.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,517 shares of the financial services provider’s stock after purchasing an additional 31,264 shares during the period. Savant Capital LLC’s holdings in Webster Financial were worth $1,939,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Picton Mahoney Asset Management bought a new stake in Webster Financial during the 1st quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Webster Financial by 327.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 739 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 566 shares in the last quarter. TCTC Holdings LLC raised its stake in Webster Financial by 118.4% in the first quarter. TCTC Holdings LLC now owns 832 shares of the financial services provider’s stock worth $43,000 after buying an additional 451 shares in the last quarter. IFP Advisors Inc lifted its holdings in Webster Financial by 3,628.6% during the second quarter. IFP Advisors Inc now owns 783 shares of the financial services provider’s stock worth $43,000 after buying an additional 762 shares during the period. Finally, Allworth Financial LP boosted its position in Webster Financial by 43.7% during the 1st quarter. Allworth Financial LP now owns 941 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 286 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Down 0.1%

WBS stock opened at $57.23 on Wednesday. The firm’s fifty day moving average is $58.74 and its 200 day moving average is $56.56. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.85 and a current ratio of 0.85. Webster Financial Corporation has a one year low of $39.43 and a one year high of $63.99. The firm has a market cap of $9.51 billion, a PE ratio of 10.66, a P/E/G ratio of 0.50 and a beta of 1.13.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Friday, October 17th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.02. The company had revenue of $732.60 million during the quarter, compared to analysts’ expectations of $725.22 million. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.During the same quarter in the prior year, the firm posted $1.34 EPS. On average, research analysts forecast that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, November 10th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.8%. Webster Financial’s dividend payout ratio is presently 29.80%.

Wall Street Analyst Weigh In

WBS has been the subject of a number of analyst reports. Truist Financial decreased their price objective on Webster Financial from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Monday, October 20th. Keefe, Bruyette & Woods raised their price target on shares of Webster Financial from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Friday, July 18th. Weiss Ratings downgraded shares of Webster Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. Barclays raised their price objective on Webster Financial from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Citigroup upped their price objective on shares of Webster Financial from $65.00 to $71.00 and gave the company a “buy” rating in a report on Friday, July 18th. 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.85.

Insider Buying and Selling

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction on Thursday, August 14th. The stock was 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 of the company’s stock, valued at approximately $13,900,582.40. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James Mi Griffin sold 807 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $62.14, for a total value of $50,146.98. Following the completion of the sale, the insider directly owned 12,556 shares of the company’s stock, valued at $780,229.84. This trade represents a 6.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 11,807 shares of company stock worth $698,527. 0.54% of the stock is 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.