Amalgamated Bank Raises Position in Webster Financial Co. (NYSE:WBS)

Amalgamated Bank grew its position in shares of Webster Financial Co. (NYSE:WBS) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 81,967 shares of the financial services provider’s stock after buying an additional 189 shares during the quarter. Amalgamated Bank’s holdings in Webster Financial were worth $4,526,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in WBS. State Street Corp lifted its position in Webster Financial by 4.8% in the 3rd quarter. State Street Corp now owns 7,320,930 shares of the financial services provider’s stock valued at $341,229,000 after acquiring an additional 333,606 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Webster Financial by 1.9% during the third quarter. Geode Capital Management LLC now owns 2,969,928 shares of the financial services provider’s stock valued at $138,465,000 after purchasing an additional 54,613 shares in the last quarter. Basswood Capital Management L.L.C. boosted its position in shares of Webster Financial by 5.6% during the third quarter. Basswood Capital Management L.L.C. now owns 1,777,413 shares of the financial services provider’s stock valued at $82,845,000 after buying an additional 93,929 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Webster Financial by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,468,942 shares of the financial services provider’s stock worth $68,467,000 after buying an additional 34,373 shares in the last quarter. Finally, Systematic Financial Management LP raised its position in Webster Financial by 12.6% in the 3rd quarter. Systematic Financial Management LP now owns 960,383 shares of the financial services provider’s stock worth $44,763,000 after buying an additional 107,165 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Up 0.4 %

WBS stock opened at $56.19 on Friday. The business’s 50-day moving average price is $57.55 and its 200-day moving average price is $53.67. The stock has a market cap of $9.63 billion, a P/E ratio of 12.86, a PEG ratio of 1.02 and a beta of 1.29. Webster Financial Co. has a twelve month low of $39.33 and a twelve month high of $63.99. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.34.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.08. The business had revenue of $661.00 million during the quarter, compared to analyst estimates of $687.53 million. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. During the same period in the prior year, the business posted $1.46 earnings per share. On average, equities research analysts forecast that Webster Financial Co. will post 5.88 EPS for the current year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.60 dividend on an annualized basis and a yield of 2.85%. Webster Financial’s dividend payout ratio is presently 36.61%.

Analyst Ratings Changes

A number of brokerages have recently commented on WBS. StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a research note on Saturday, January 11th. Royal Bank of Canada lifted their target price on shares of Webster Financial from $66.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Barclays boosted their target price on shares of Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. UBS Group initiated coverage on Webster Financial in a research note on Tuesday, December 17th. They issued a “buy” rating and a $76.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.08.

Insider Activity

In other Webster Financial news, Director Laurence C. Morse sold 13,217 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $59.07, for a total transaction of $780,728.19. Following the completion of the sale, the director now directly owns 18,808 shares of the company’s stock, valued at $1,110,988.56. This trade represents a 41.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.43, for a total transaction of $459,440.00. Following the completion of the transaction, the chief executive officer now directly owns 210,051 shares in the company, valued at $12,063,228.93. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.88% of the company’s stock.

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.