Envestnet Asset Management Inc. Buys 4,684 Shares of Webster Financial Corporation (NYSE:WBS)

Envestnet Asset Management Inc. boosted its position in Webster Financial Corporation (NYSE:WBS - Free Report) by 1.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 267,787 shares of the financial services provider's stock after purchasing an additional 4,684 shares during the period. Envestnet Asset Management Inc. owned 0.16% of Webster Financial worth $13,804,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. HighTower Advisors LLC boosted its position in shares of Webster Financial by 0.6% during the 4th quarter. HighTower Advisors LLC now owns 32,155 shares of the financial services provider's stock valued at $1,776,000 after purchasing an additional 177 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its position in shares of Webster Financial by 3.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,912 shares of the financial services provider's stock valued at $326,000 after purchasing an additional 186 shares in the last quarter. Penbrook Management LLC boosted its position in shares of Webster Financial by 5.2% during the 1st quarter. Penbrook Management LLC now owns 5,080 shares of the financial services provider's stock valued at $262,000 after purchasing an additional 250 shares in the last quarter. Cetera Investment Advisers raised its stake in Webster Financial by 1.2% during the 4th quarter. Cetera Investment Advisers now owns 21,299 shares of the financial services provider's stock worth $1,176,000 after buying an additional 259 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in Webster Financial by 26.1% during the 1st quarter. First Horizon Advisors Inc. now owns 1,486 shares of the financial services provider's stock worth $77,000 after buying an additional 308 shares during the period. Institutional investors own 85.58% of the company's stock.

Insider Buying and Selling

In other news, insider Daniel Bley sold 1,200 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $49.97, for a total transaction of $59,964.00. Following the transaction, the insider directly owned 20,317 shares of the company's stock, valued at $1,015,240.49. This represents a 5.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Javier L. Evans sold 7,800 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $52.58, for a total value of $410,124.00. Following the transaction, the insider directly owned 19,820 shares in the company, valued at $1,042,135.60. The trade was a 28.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,000 shares of company stock worth $934,210. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WBS. Barclays increased their price objective on Webster Financial from $72.00 to $77.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Raymond James Financial increased their price objective on Webster Financial from $65.00 to $68.00 and gave the stock an "outperform" rating in a research note on Friday. Keefe, Bruyette & Woods increased their price objective on Webster Financial from $65.00 to $68.00 and gave the stock an "outperform" rating in a research note on Friday. JPMorgan Chase & Co. increased their price objective on Webster Financial from $55.00 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Finally, Wells Fargo & Company increased their price objective on Webster Financial from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $66.77.

Webster Financial Trading Up 1.4%

Shares of NYSE WBS traded up $0.84 during midday trading on Friday, reaching $60.89. The company had a trading volume of 2,025,907 shares, compared to its average volume of 1,281,767. Webster Financial Corporation has a one year low of $39.43 and a one year high of $63.99. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.47. The firm's fifty day moving average price is $54.33 and its 200-day moving average price is $53.21. The stock has a market cap of $10.24 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 0.79 and a beta of 1.00.

Webster Financial (NYSE:WBS - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.52 EPS for the quarter, beating the consensus estimate of $1.43 by $0.09. The business had revenue of $715.80 million during the quarter, compared to analyst estimates of $716.59 million. Webster Financial had a return on equity of 10.84% and a net margin of 20.06%. The company's revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 earnings per share. On average, equities research analysts anticipate that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial declared that its Board of Directors has approved a stock buyback plan on Thursday, May 1st that allows the company to repurchase $700.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were paid a $0.40 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.60 annualized dividend and a dividend yield of 2.63%. Webster Financial's payout ratio is currently 32.45%.

Webster Financial 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.