Webster Financial Corporation $WBS Shares Purchased by Cwm LLC

Key Points

• Cwm LLC increased its stake in Webster Financial Corporation by 168.8% during the 2nd quarter, now owning 38,303 shares valued at approximately $2.09 million.
• CEO John R. Ciulla recently sold 8,000 shares of the company's stock for a total of $463,600, reducing his ownership by 3.23%.
• Webster Financial reported earnings of $1.54 per share for the last quarter, exceeding analysts' expectations of $1.52, alongside a revenue of $732.6 million.

Cwm LLC lifted its position in Webster Financial Corporation (NYSE:WBS - Free Report) by 168.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,303 shares of the financial services provider's stock after acquiring an additional 24,052 shares during the quarter. Cwm LLC's holdings in Webster Financial were worth $2,091,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Picton Mahoney Asset Management acquired a new position in shares of Webster Financial in the 1st quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of 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 acquiring an additional 566 shares in the last quarter. IFP Advisors Inc grew its position in shares of Webster Financial by 3,628.6% in the 2nd quarter. IFP Advisors Inc now owns 783 shares of the financial services provider's stock worth $43,000 after acquiring an additional 762 shares in the last quarter. TCTC Holdings LLC grew its position in shares of 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 acquiring an additional 451 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of 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 during the last quarter. Institutional investors and hedge funds own 85.58% of the company's stock.

Insiders Place Their Bets

In related news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $57.95, for a total value of $463,600.00. Following the transaction, the chief executive officer directly owned 239,872 shares in the company, valued at $13,900,582.40. The trade was a 3.23% 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 stock was sold at an average price of $61.21, for a total value of $153,025.00. Following the completion of the transaction, the insider 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. Over the last ninety days, insiders sold 36,445 shares of company stock worth $2,168,537. Corporate insiders own 0.54% of the company's stock.

Webster Financial Stock Performance

Shares of NYSE WBS opened at $54.27 on Friday. 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 stock has a market capitalization of $9.02 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.48 and a beta of 1.05. The stock's fifty day simple moving average is $59.82 and its 200 day simple moving average is $54.96. 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 issued its earnings results on Friday, October 17th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.52 by $0.02. The business had revenue of $732.60 million for the quarter, compared to analysts' expectations of $725.22 million. Webster Financial had a return on equity of 10.84% and a net margin of 20.06%.During the same period in the previous year, the firm posted $1.34 EPS. As a group, sell-side analysts forecast that Webster Financial Corporation will post 5.88 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, August 11th. Webster Financial's payout ratio is presently 32.45%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. UBS Group reissued a "buy" rating and issued a $69.00 price target on shares of Webster Financial in a report on Wednesday, July 9th. Seaport Res Ptn downgraded Webster Financial from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Wells Fargo & Company lifted their target price on Webster Financial from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. TD Cowen began coverage on Webster Financial in a research note on Thursday, September 25th. They issued a "buy" rating and a $78.00 price objective on the stock. Finally, Keefe, Bruyette & Woods boosted their price objective on Webster Financial from $65.00 to $68.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.31.

About Webster Financial

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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