Savant Capital LLC Buys 31,264 Shares of Webster Financial Corporation $WBS

Savant Capital LLC lifted its position in shares of Webster Financial Corporation (NYSE:WBS) by 735.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,517 shares of the financial services provider’s stock after purchasing an additional 31,264 shares during the quarter. Savant Capital LLC’s holdings in Webster Financial were worth $1,939,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of WBS. BCGM Wealth Management LLC grew its holdings in Webster Financial by 1.2% in the second quarter. BCGM Wealth Management LLC now owns 16,161 shares of the financial services provider’s stock worth $882,000 after purchasing an additional 186 shares during the period. Machina Capital S.A.S. bought a new position in shares of Webster Financial during the second quarter valued at $209,000. Bank of Montreal Can grew its holdings in shares of Webster Financial by 3.2% during the second quarter. Bank of Montreal Can now owns 1,252,795 shares of the financial services provider’s stock valued at $68,403,000 after buying an additional 38,933 shares during the last quarter. Nicholas Company Inc. increased its position in shares of Webster Financial by 0.3% during the second quarter. Nicholas Company Inc. now owns 151,589 shares of the financial services provider’s stock valued at $8,277,000 after acquiring an additional 430 shares in the last quarter. Finally, Versor Investments LP bought a new position in Webster Financial in the 2nd quarter valued at approximately $463,000. Institutional investors own 85.58% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Cowen initiated coverage on Webster Financial in a research report on Wednesday, September 24th. They issued a “buy” rating for the company. Keefe, Bruyette & Woods increased their target price on Webster Financial from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Friday, July 18th. Barclays boosted their price target on Webster Financial from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday. TD Cowen initiated coverage on shares of Webster Financial in a report on Thursday, September 25th. They set a “buy” rating and a $78.00 target price for the company. Finally, Wells Fargo & Company dropped their price target on shares of Webster Financial from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Thirteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Webster Financial has a consensus rating of “Moderate Buy” and an average target price of $69.85.

Insider Activity

In related news, insider James Mi Griffin sold 807 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $62.14, for a total transaction of $50,146.98. Following the sale, the insider owned 12,556 shares in the company, valued at approximately $780,229.84. This represents a 6.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $463,600.00. Following the transaction, the chief executive officer directly owned 239,872 shares of the company’s stock, valued at $13,900,582.40. The trade was a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 11,807 shares of company stock worth $698,527. 0.54% of the stock is currently owned by corporate insiders.

Webster Financial Stock Down 0.1%

Shares of WBS opened at $57.23 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.42. Webster Financial Corporation has a 12-month low of $39.43 and a 12-month high of $63.99. The business’s 50 day moving average is $58.74 and its 200 day moving average is $56.56. The company has a market capitalization of $9.51 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 0.50 and a beta of 1.13.

Webster Financial (NYSE:WBS) last released its quarterly earnings data 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 the consensus estimate of $725.22 million. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.During the same quarter in the previous year, the company posted $1.34 EPS. Research analysts expect that Webster Financial Corporation will post 5.88 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, November 10th will be issued a $0.40 dividend. The ex-dividend date is Monday, November 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.8%. Webster Financial’s payout ratio is 29.80%.

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.