Wealth Enhancement Advisory Services LLC Boosts Stake in Webster Financial Corporation (NYSE:WBS)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Webster Financial Corporation (NYSE:WBS - Free Report) by 42.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,517 shares of the financial services provider's stock after buying an additional 4,653 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Webster Financial were worth $800,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Webster Financial during the 4th quarter valued at about $26,000. Headlands Technologies LLC acquired a new stake in Webster Financial during the fourth quarter worth about $32,000. Versant Capital Management Inc raised its position in Webster Financial by 171.2% during the first quarter. Versant Capital Management Inc now owns 1,025 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 647 shares in the last quarter. Spurstone Advisory Services LLC acquired a new position in Webster Financial in the fourth quarter valued at approximately $61,000. Finally, Parallel Advisors LLC boosted its position in Webster Financial by 78.7% in the 1st quarter. Parallel Advisors LLC now owns 1,117 shares of the financial services provider's stock worth $58,000 after purchasing an additional 492 shares in the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Stock Up 1.7%

Shares of NYSE:WBS opened at $57.80 on Thursday. The stock has a 50-day simple moving average of $51.80 and a 200-day simple moving average of $52.94. The stock has a market capitalization of $9.72 billion, a P/E ratio of 13.02, a PEG ratio of 0.74 and a beta of 1.00. Webster Financial Corporation has a 1 year low of $39.43 and a 1 year high of $63.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.85 and a current ratio of 0.85.

Webster Financial (NYSE:WBS - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.38 by ($0.08). Webster Financial had a net margin of 18.58% and a return on equity of 10.57%. The firm had revenue of $704.80 million for the quarter, compared to analysts' expectations of $708.46 million. During the same quarter in the prior year, the business earned $1.35 EPS. The company's revenue for the quarter was up 5.7% on a year-over-year basis. Equities analysts forecast that Webster Financial Corporation will post 5.88 earnings per share for the current year.

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

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, May 12th. Webster Financial's dividend payout ratio (DPR) is presently 36.04%.

Insider Buying and Selling at Webster Financial

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Royal Bank Of Canada set a $60.00 price target on Webster Financial and gave the company an "outperform" rating in a research note on Friday, April 25th. Keefe, Bruyette & Woods cut their price objective on Webster Financial from $70.00 to $65.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Raymond James Financial reduced their target price on Webster Financial from $65.00 to $58.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Wells Fargo & Company dropped their price target on shares of Webster Financial from $75.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. upped 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. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Webster Financial currently has an average rating of "Moderate Buy" and a consensus price target of $63.75.

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.

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