PharVision Advisers LLC Invests $401,000 in Webster Financial Corporation $WBS

Key Points

• PharVision Advisers LLC purchased 7,787 shares of Webster Financial Corporation valued at approximately $401,000 in the first quarter, according to their 13F filing with the SEC.
• Webster Financial has received multiple upgrades from analysts, with target prices increased to as high as $71.00 by Citigroup, reflecting predominant positive sentiment.
• The company has announced a quarterly dividend of $0.40 per share, representing an annualized yield of 2.6%, with a dividend payout ratio of 32.45%.

PharVision Advisers LLC purchased a new stake in Webster Financial Corporation (NYSE:WBS - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,787 shares of the financial services provider's stock, valued at approximately $401,000.

A number of other institutional investors also recently bought and sold shares of WBS. Picton Mahoney Asset Management acquired a new stake in Webster Financial in the 1st quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Webster Financial by 327.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 739 shares of the financial services provider's stock worth $38,000 after purchasing an additional 566 shares in the last quarter. TCTC Holdings LLC boosted its stake in Webster Financial by 118.4% in the 1st quarter. TCTC Holdings LLC now owns 832 shares of the financial services provider's stock worth $43,000 after purchasing an additional 451 shares in the last quarter. Allworth Financial LP boosted its stake in Webster Financial by 43.7% in the 1st quarter. Allworth Financial LP now owns 941 shares of the financial services provider's stock worth $45,000 after purchasing an additional 286 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in Webster Financial by 171.2% in the 1st quarter. Versant Capital Management Inc now owns 1,025 shares of the financial services provider's stock worth $53,000 after purchasing an additional 647 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director William L. Atwell sold 16,823 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $59.20, for a total value of $995,921.60. Following the completion of the sale, the director owned 30,915 shares of the company's stock, valued at approximately $1,830,168. The trade was a 35.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the chief executive officer directly 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 position. The disclosure for this sale can be found here. Insiders have sold 33,445 shares of company stock worth $1,983,757 in the last 90 days. 0.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WBS. Seaport Res Ptn cut shares of Webster Financial from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Raymond James Financial raised their price target 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. UBS Group reissued a "buy" rating and set a $69.00 price target on shares of Webster Financial in a research report on Wednesday, July 9th. Truist Financial reissued a "buy" rating and set a $67.00 price target (up from $61.00) on shares of Webster Financial in a research report on Friday, July 11th. Finally, Jefferies Financial Group initiated coverage on shares of Webster Financial in a research report on Wednesday, May 21st. They set a "buy" rating and a $65.00 price target for the company. Ten equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $66.77.

Webster Financial Price Performance

Shares of NYSE:WBS traded up $0.04 during trading on Monday, reaching $62.05. 1,322,264 shares of the company's stock traded hands, compared to its average volume of 987,125. 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 quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.47. The firm has a market cap of $10.31 billion, a PE ratio of 12.59, a P/E/G ratio of 0.57 and a beta of 1.07. The company has a 50-day simple moving average of $59.26 and a 200-day simple moving average of $53.47.

Webster Financial (NYSE:WBS - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.52 EPS 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 analyst estimates of $716.59 million. Webster Financial had a net margin of 20.06% and a return on equity of 10.84%. The firm's revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.26 EPS. As a group, analysts predict 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 was paid on Thursday, August 21st. Investors of record on Monday, August 11th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, August 11th. Webster Financial's payout ratio is presently 32.45%.

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.