Algert Global LLC Has $8.12 Million Stock Position in Webster Financial Co. (NYSE:WBS)

Algert Global LLC raised its holdings in Webster Financial Co. (NYSE:WBS) by 179.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 174,190 shares of the financial services provider’s stock after acquiring an additional 111,960 shares during the period. Algert Global LLC’s holdings in Webster Financial were worth $8,119,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Assetmark Inc. grew its holdings in Webster Financial by 9.3% in the 3rd quarter. Assetmark Inc. now owns 2,611 shares of the financial services provider’s stock valued at $122,000 after buying an additional 222 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Webster Financial by 5.4% during the 2nd quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 248 shares in the last quarter. Covestor Ltd grew its holdings in shares of Webster Financial by 17.0% during the 3rd quarter. Covestor Ltd now owns 1,895 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 276 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in shares of Webster Financial by 8.5% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 3,976 shares of the financial services provider’s stock worth $185,000 after purchasing an additional 311 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Webster Financial by 30.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,629 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 377 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Trading Up 2.1 %

Shares of WBS opened at $61.76 on Friday. The stock has a fifty day moving average price of $51.40 and a two-hundred day moving average price of $47.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86. Webster Financial Co. has a 52-week low of $39.33 and a 52-week high of $61.86. The company has a market cap of $10.59 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 0.91 and a beta of 1.27.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.01). The business had revenue of $647.62 million during the quarter, compared to the consensus estimate of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same quarter in the previous year, the firm posted $1.55 EPS. Analysts predict that Webster Financial Co. will post 5.24 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were given a dividend of $0.40 per share. The ex-dividend date was Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.59%. Webster Financial’s payout ratio is currently 36.28%.

Insider Transactions at Webster Financial

In other news, insider Javier L. Evans sold 10,137 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $57.41, for a total transaction of $581,965.17. Following the completion of the sale, the insider now owns 22,657 shares in the company, valued at $1,300,738.37. The trade was a 30.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $59.33, for a total value of $474,640.00. Following the sale, the chief executive officer now directly owns 218,924 shares of the company’s stock, valued at approximately $12,988,760.92. This trade represents a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,750 shares of company stock worth $2,074,367 over the last 90 days. 0.88% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Morgan Stanley decreased their price objective on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. Wedbush raised their target price on Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company raised their target price on Webster Financial from $50.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. cut their target price on Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Finally, StockNews.com downgraded Webster Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Webster Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.85.

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.