Townsquare Capital LLC Takes $283,000 Position in Webster Financial Corporation $WBS

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Townsquare Capital 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 Securities & Exchange Commission. The fund purchased 5,481 shares of the financial services provider's stock, valued at approximately $283,000.

Several other institutional investors have also recently bought and sold shares of WBS. Kovitz Investment Group Partners LLC lifted its position in shares of Webster Financial by 3.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,912 shares of the financial services provider's stock worth $326,000 after purchasing an additional 186 shares in the last quarter. Penbrook Management LLC lifted its position in shares of Webster Financial by 5.2% in the first quarter. Penbrook Management LLC now owns 5,080 shares of the financial services provider's stock worth $262,000 after purchasing an additional 250 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Webster Financial by 1.2% in the fourth quarter. Cetera Investment Advisers now owns 21,299 shares of the financial services provider's stock worth $1,176,000 after purchasing an additional 259 shares in the last quarter. Beverly Hills Private Wealth LLC lifted its position in Webster Financial by 4.5% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 6,058 shares of the financial services provider's stock worth $312,000 after buying an additional 262 shares in the last quarter. Finally, Allworth Financial LP lifted 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 worth $45,000 after buying an additional 286 shares in the last quarter. Institutional investors own 85.58% of the company's stock.

Insider Transactions at Webster Financial

In other news, CAO Albert Jen-Wen Wang sold 3,250 shares of the firm's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $60.31, for a total transaction of $196,007.50. Following the sale, the chief accounting officer directly owned 15,755 shares in the company, valued at $950,184.05. This trade represents a 17.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William L. Atwell sold 16,823 shares of Webster Financial stock in a transaction on Monday, July 28th. The shares were sold at an average price of $59.20, for a total transaction of $995,921.60. Following the completion of the sale, the director owned 30,915 shares in the company, valued at approximately $1,830,168. This represents a 35.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,638 shares of company stock worth $2,721,745. Company insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Royal Bank Of Canada set a $60.00 price target on shares of Webster Financial and gave the stock an "outperform" rating in a research report on Friday, April 25th. Wells Fargo & Company upped their target price on Webster Financial from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. JPMorgan Chase & Co. upped their target price on shares of Webster Financial from $55.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Keefe, Bruyette & Woods increased their price target on Webster Financial from $65.00 to $68.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Finally, Seaport Res Ptn cut shares of Webster Financial from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Webster Financial presently has an average rating of "Moderate Buy" and a consensus price target of $66.77.

Webster Financial Stock Performance

NYSE:WBS opened at $58.24 on Tuesday. The business's fifty day moving average is $56.78 and its 200 day moving average is $53.25. 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 firm has a market cap of $9.68 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 0.53 and a beta of 1.04. Webster Financial Corporation has a 52-week low of $39.43 and a 52-week high of $63.99.

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. Webster Financial had a return on equity of 10.84% and a net margin of 20.06%. The firm had revenue of $715.80 million for the quarter, compared to analyst estimates of $716.59 million. During the same period in the prior year, the company earned $1.26 EPS. The company's revenue was up 16.5% on a year-over-year basis. Research analysts predict that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial declared that its board has approved a share buyback program on Thursday, May 1st that authorizes the company to repurchase $700.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Webster Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Monday, August 11th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, August 11th. Webster Financial's payout ratio is currently 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.

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