Webster Financial Corporation (NYSE:WBS) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its holdings in shares of Webster Financial Corporation (NYSE:WBS - Free Report) by 13.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,994 shares of the financial services provider's stock after purchasing an additional 5,078 shares during the quarter. Janney Montgomery Scott LLC's holdings in Webster Financial were worth $2,165,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. HighTower Advisors LLC boosted its position in Webster Financial by 0.6% during the fourth quarter. HighTower Advisors LLC now owns 32,155 shares of the financial services provider's stock worth $1,776,000 after purchasing an additional 177 shares in the last quarter. Sanctuary Advisors LLC boosted its position in Webster Financial by 0.9% during the fourth quarter. Sanctuary Advisors LLC now owns 19,336 shares of the financial services provider's stock worth $1,163,000 after purchasing an additional 178 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its position in Webster Financial by 3.2% during 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. US Bancorp DE boosted its position in Webster Financial by 2.8% during the fourth quarter. US Bancorp DE now owns 7,143 shares of the financial services provider's stock worth $394,000 after purchasing an additional 192 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in Webster Financial by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,931 shares of the financial services provider's stock worth $1,929,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company's stock.

Webster Financial Trading Down 1.1%

NYSE:WBS opened at $53.08 on Thursday. The firm has a market cap of $8.93 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 0.70 and a beta of 1.00. The stock has a fifty day moving average price of $50.78 and a 200 day moving average price of $53.06. Webster Financial Corporation has a 12-month low of $39.43 and a 12-month high of $63.99. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.43.

Webster Financial (NYSE:WBS - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $704.80 million for the quarter, compared to analysts' expectations of $708.46 million. Webster Financial had a return on equity of 10.57% and a net margin of 18.58%. The firm's quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the firm earned $1.35 earnings per share. Sell-side analysts anticipate that Webster Financial Corporation will post 5.88 earnings per share for the current fiscal year.

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

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Monday, May 12th. Webster Financial's dividend payout ratio (DPR) is 36.04%.

Insiders Place Their Bets

In other news, insider Javier L. Evans sold 7,800 shares of Webster Financial stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $52.58, for a total transaction of $410,124.00. Following the sale, the insider now owns 19,820 shares in the company, valued at approximately $1,042,135.60. The trade was a 28.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles L. Wilkins sold 5,000 shares of Webster Financial stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $53.25, for a total value of $266,250.00. Following the sale, the insider now owns 31,534 shares in the company, valued at $1,679,185.50. This trade represents a 13.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,000 shares of company stock valued at $934,210 in the last ninety days. Insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on WBS shares. Morgan Stanley lowered their price target on Webster Financial from $75.00 to $66.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Jefferies Financial Group started coverage on Webster Financial in a research report on Wednesday, May 21st. They issued a "buy" rating and a $65.00 target price on the stock. Wells Fargo & Company decreased their target price on Webster Financial from $75.00 to $60.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods decreased their target price on Webster Financial from $70.00 to $65.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Finally, Barclays decreased their target price on Webster Financial from $80.00 to $72.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.75.

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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