TimesSquare Capital Management LLC Buys 26,575 Shares of Webster Financial Co. (NYSE:WBS)

TimesSquare Capital Management LLC lifted its stake in Webster Financial Co. (NYSE:WBS - Free Report) by 56.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 73,425 shares of the financial services provider's stock after purchasing an additional 26,575 shares during the quarter. TimesSquare Capital Management LLC's holdings in Webster Financial were worth $3,727,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC lifted its holdings in shares of Webster Financial by 22.6% during the 3rd quarter. FMR LLC now owns 7,258,411 shares of the financial services provider's stock valued at $292,587,000 after buying an additional 1,339,862 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Webster Financial by 1.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,732,942 shares of the financial services provider's stock valued at $110,165,000 after buying an additional 48,445 shares during the last quarter. Earnest Partners LLC lifted its holdings in shares of Webster Financial by 8.4% during the 3rd quarter. Earnest Partners LLC now owns 2,394,951 shares of the financial services provider's stock valued at $96,540,000 after buying an additional 184,905 shares during the last quarter. Davis Asset Management L.P. lifted its holdings in shares of Webster Financial by 9.4% during the 3rd quarter. Davis Asset Management L.P. now owns 1,750,000 shares of the financial services provider's stock valued at $70,542,000 after buying an additional 150,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Webster Financial by 13.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,363,237 shares of the financial services provider's stock valued at $69,198,000 after buying an additional 157,973 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company's stock.

Insider Activity

In other news, insider Daniel Bley sold 2,000 shares of the company's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total transaction of $95,200.00. Following the transaction, the insider now owns 27,955 shares of the company's stock, valued at $1,330,658. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is currently owned by insiders.

Webster Financial Price Performance

Webster Financial stock traded down $0.07 on Friday, reaching $45.88. The company's stock had a trading volume of 510,003 shares, compared to its average volume of 1,553,147. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $7.88 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 0.41 and a beta of 1.35. The business's fifty day moving average price is $47.47 and its 200 day moving average price is $46.87. Webster Financial Co. has a twelve month low of $31.62 and a twelve month high of $53.39.

Webster Financial (NYSE:WBS - Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The business had revenue of $667.10 million during the quarter, compared to analyst estimates of $680.72 million. Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. Webster Financial's revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.49 EPS. Equities analysts expect that Webster Financial Co. will post 5.62 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Friday, May 3rd. Webster Financial's dividend payout ratio (DPR) is presently 32.79%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on WBS shares. Bank of America started coverage on Webster Financial in a report on Thursday, January 11th. They issued a "buy" rating and a $60.00 target price for the company. JPMorgan Chase & Co. dropped their price target on Webster Financial from $65.00 to $63.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 24th. Royal Bank of Canada dropped their price target on Webster Financial from $57.00 to $54.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 24th. Morgan Stanley lifted their price target on Webster Financial from $51.00 to $61.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 7th. Finally, Keefe, Bruyette & Woods lowered their price objective on Webster Financial from $64.00 to $58.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $56.23.

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.