Webster Financial Corporation $WBS Shares Acquired by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its stake in Webster Financial Corporation (NYSE:WBS) by 32.9%, owning 26,311 shares valued at $1,356,000.
• Webster Financial reported earnings per share of $1.52 for the last quarter, surpassing analysts' expectations, with revenue up by 16.5% year-over-year.
• The company declared a quarterly dividend of $0.40 per share, yielding 2.6% and maintaining a payout ratio of 32.45%.

Ieq Capital LLC raised its stake in shares of Webster Financial Corporation (NYSE:WBS - Free Report) by 32.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,311 shares of the financial services provider's stock after purchasing an additional 6,513 shares during the quarter. Ieq Capital LLC's holdings in Webster Financial were worth $1,356,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Integrated Wealth Concepts LLC purchased a new stake in shares of Webster Financial in the 4th quarter valued at $210,000. Northern Trust Corp lifted its holdings in Webster Financial by 27.5% during the fourth quarter. Northern Trust Corp now owns 1,528,459 shares of the financial services provider's stock valued at $84,402,000 after purchasing an additional 329,267 shares in the last quarter. Comerica Bank lifted its holdings in Webster Financial by 6.9% during the fourth quarter. Comerica Bank now owns 66,865 shares of the financial services provider's stock valued at $3,692,000 after purchasing an additional 4,295 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Webster Financial in the fourth quarter valued at about $1,193,000. Finally, Bank of America Corp DE raised its position in shares of Webster Financial by 3.9% in the fourth quarter. Bank of America Corp DE now owns 2,641,766 shares of the financial services provider's stock valued at $145,878,000 after buying an additional 99,586 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company's stock.

Webster Financial Trading Up 1.8%

Shares of WBS traded up $1.11 during trading on Thursday, reaching $62.88. 885,781 shares of the company traded hands, compared to its average volume of 1,291,169. Webster Financial Corporation has a twelve month low of $39.43 and a twelve month high of $63.99. The stock has a market cap of $10.45 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 0.57 and a beta of 1.07. The stock has a 50-day simple moving average of $58.81 and a 200-day simple moving average of $53.44. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.47.

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

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Monday, August 11th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, August 11th. Webster Financial's payout ratio is currently 32.45%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WBS. UBS Group restated a "buy" rating and set a $69.00 price objective on shares of Webster Financial in a research report on Wednesday, July 9th. JPMorgan Chase & Co. raised their price objective on shares of Webster Financial from $55.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Keefe, Bruyette & Woods raised their price objective 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. Raymond James Financial raised their price objective 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. Finally, Seaport Res Ptn cut shares of Webster Financial from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Ten research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $66.77.

Insider Buying and Selling at Webster Financial

In other news, CAO Albert Jen-Wen Wang sold 3,250 shares of Webster Financial stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $60.31, for a total value of $196,007.50. Following the transaction, the chief accounting officer directly owned 15,755 shares of the company's stock, valued at $950,184.05. The trade was a 17.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jason A. Soto sold 2,500 shares of Webster Financial stock in a transaction on Monday, July 21st. The shares were sold at an average price of $61.21, for a total transaction of $153,025.00. Following the completion of the transaction, the insider directly owned 18,889 shares in the company, valued at $1,156,195.69. The trade was a 11.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,445 shares of company stock worth $2,250,007. 0.54% of the stock is owned by insiders.

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.