Hunter Perkins Capital Management LLC Boosts Stock Holdings in Webster Financial Corporation $WBS

Hunter Perkins Capital Management LLC lifted its stake in Webster Financial Corporation (NYSE:WBS - Free Report) by 15.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 118,256 shares of the financial services provider's stock after buying an additional 16,211 shares during the period. Webster Financial makes up approximately 1.5% of Hunter Perkins Capital Management LLC's holdings, making the stock its 22nd largest holding. Hunter Perkins Capital Management LLC owned about 0.07% of Webster Financial worth $6,457,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Amundi boosted its stake in shares of Webster Financial by 699.7% during the first quarter. Amundi now owns 137,740 shares of the financial services provider's stock valued at $7,100,000 after purchasing an additional 120,516 shares during the period. Bessemer Group Inc. raised its holdings in Webster Financial by 166.1% during the 1st quarter. Bessemer Group Inc. now owns 1,027 shares of the financial services provider's stock valued at $53,000 after buying an additional 641 shares during the last quarter. GAMMA Investing LLC grew its holdings in Webster Financial by 48.3% in the 1st quarter. GAMMA Investing LLC now owns 3,032 shares of the financial services provider's stock worth $156,000 after acquiring an additional 987 shares during the last quarter. LPL Financial LLC increased its position in shares of Webster Financial by 9.9% in the first quarter. LPL Financial LLC now owns 77,103 shares of the financial services provider's stock valued at $3,975,000 after acquiring an additional 6,948 shares during the period. Finally, Allworth Financial LP raised its stake in shares of Webster Financial by 43.7% during the first 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 during the last quarter. Institutional investors own 85.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WBS. Cantor Fitzgerald assumed coverage on Webster Financial in a report on Wednesday, September 10th. They issued an "overweight" rating and a $70.00 price objective for the company. Cowen began coverage on shares of Webster Financial in a research report on Wednesday, September 24th. They set a "buy" rating on the stock. Raymond James Financial raised their target price on shares of Webster Financial from $65.00 to $68.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Citigroup lifted their target price on shares of Webster Financial from $65.00 to $71.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Finally, Truist Financial reissued a "buy" rating and issued a $67.00 price target (up from $61.00) on shares of Webster Financial in a research note on Friday, July 11th. Fourteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $68.67.

Webster Financial Stock Up 1.0%

WBS stock opened at $59.54 on Monday. Webster Financial Corporation has a fifty-two week low of $39.43 and a fifty-two week high of $63.99. The company has a market cap of $9.89 billion, a price-to-earnings ratio of 12.08, a P/E/G ratio of 0.55 and a beta of 1.05. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.85 and a current ratio of 0.86. The business's 50-day moving average is $59.67 and its two-hundred day moving average is $54.56.

Webster Financial (NYSE:WBS - Get Free Report) last issued its earnings results on Thursday, July 17th. The financial services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.09. The company had revenue of $715.80 million during the quarter, compared to the consensus estimate of $716.59 million. Webster Financial had a net margin of 20.06% and a return on equity of 10.84%. Webster Financial's quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.26 EPS. As a group, analysts forecast that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Monday, August 11th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, August 11th. Webster Financial's payout ratio is presently 32.45%.

Insider Activity at Webster Financial

In related news, insider James Mi Griffin sold 2,065 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $60.56, for a total transaction of $125,056.40. Following the completion of the sale, the insider directly owned 13,363 shares of the company's stock, valued at approximately $809,263.28. This trade represents a 13.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William L. Atwell sold 16,823 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $59.20, for a total transaction of $995,921.60. Following the completion of the transaction, the director owned 30,915 shares in the company, valued at $1,830,168. This represents a 35.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,445 shares of company stock worth $2,168,537 in the last three months. 0.54% of the stock is owned by 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.

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