Hartford Financial Management Inc. Grows Stock Holdings in Webster Financial Co. (NYSE:WBS)

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Hartford Financial Management Inc. raised its position in Webster Financial Co. (NYSE:WBS) by 17.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,102 shares of the financial services provider’s stock after acquiring an additional 8,680 shares during the quarter. Hartford Financial Management Inc. owned approximately 0.06% of Webster Financial worth $2,776,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in WBS. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Webster Financial in the first quarter valued at about $42,343,000. Norges Bank purchased a new position in shares of Webster Financial during the fourth quarter valued at about $36,555,000. Bayview Asset Management LLC purchased a new position in shares of Webster Financial during the second quarter valued at about $14,358,000. Mesirow Financial Investment Management Equity Management purchased a new position in shares of Webster Financial during the second quarter valued at about $6,546,000. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Webster Financial by 232.5% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 182,935 shares of the financial services provider’s stock valued at $9,269,000 after buying an additional 127,920 shares during the period. Hedge funds and other institutional investors own 90.48% of the company’s stock.

Shares of WBS stock opened at $48.14 on Wednesday. Webster Financial Co. has a 12 month low of $43.95 and a 12 month high of $68.62. The stock has a market capitalization of $4.43 billion, a PE ratio of 12.87, a P/E/G ratio of 1.46 and a beta of 1.25. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.67. The firm’s 50 day simple moving average is $48.09.

Webster Financial (NYSE:WBS) last announced its earnings results on Thursday, July 18th. The financial services provider reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.02. Webster Financial had a net margin of 27.99% and a return on equity of 13.80%. The business had revenue of $317.60 million during the quarter, compared to analysts’ expectations of $312.36 million. During the same period in the prior year, the company earned $0.86 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts predict that Webster Financial Co. will post 4.11 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Monday, August 5th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.32%. Webster Financial’s dividend payout ratio is currently 42.78%.

Several research firms recently commented on WBS. Morgan Stanley raised shares of Webster Financial from an “underweight” rating to an “equal weight” rating and set a $51.00 price objective on the stock in a research note on Monday, July 1st. Zacks Investment Research raised shares of Webster Financial from a “sell” rating to a “hold” rating and set a $49.00 price objective on the stock in a research note on Friday, July 5th. Compass Point began coverage on shares of Webster Financial in a research note on Tuesday, May 7th. They set a “buy” rating on the stock. Finally, Boenning Scattergood reissued a “neutral” rating on shares of Webster Financial in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $56.25.

In other news, Director John Joseph Crawford sold 1,000 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $49.49, for a total value of $49,490.00. Following the completion of the sale, the director now directly owns 16,099 shares of the company’s stock, valued at $796,739.51. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Daniel Bley sold 2,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $51.45, for a total transaction of $102,900.00. Following the completion of the sale, the executive vice president now directly owns 18,654 shares of the company’s stock, valued at $959,748.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,000 shares of company stock valued at $203,670. 1.53% of the stock is owned by corporate insiders.

Webster Financial Profile

Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.

Further Reading: What is the Ex-Dividend Date in Investing?

Institutional Ownership by Quarter for Webster Financial (NYSE:WBS)

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