Frontier Capital Management Co. LLC Increases Position in Webster Financial Corporation $WBS

by · The Cerbat Gem

Frontier Capital Management Co. LLC boosted its holdings in Webster Financial Corporation (NYSE:WBSFree Report) by 2.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 776,063 shares of the financial services provider’s stock after purchasing an additional 20,843 shares during the period. Frontier Capital Management Co. LLC’s holdings in Webster Financial were worth $42,373,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Webster Financial by 327.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 739 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 566 shares during the last quarter. IFP Advisors Inc grew its position in shares of Webster Financial by 3,628.6% during the second quarter. IFP Advisors Inc now owns 783 shares of the financial services provider’s stock worth $43,000 after buying an additional 762 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Webster Financial by 56.1% in the second quarter. Parkside Financial Bank & Trust now owns 829 shares of the financial services provider’s stock worth $45,000 after buying an additional 298 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in Webster Financial by 50.3% in the second quarter. Hantz Financial Services Inc. now owns 899 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 301 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in Webster Financial by 81.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,107 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 497 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Insider Activity at Webster Financial

In other news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $55.45, for a total transaction of $443,600.00. Following the sale, the chief executive officer owned 231,872 shares of the company’s stock, valued at approximately $12,857,302.40. The trade was a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Elzbieta Cieslik sold 2,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $61.58, for a total value of $123,160.00. Following the completion of the transaction, the chief accounting officer directly owned 14,894 shares of the company’s stock, valued at $917,172.52. This trade represents a 11.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 11,000 shares of company stock worth $628,380 in the last 90 days. 0.54% of the stock is owned by company insiders.

Webster Financial Price Performance

Shares of NYSE WBS opened at $64.04 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $10.33 billion, a PE ratio of 11.93, a P/E/G ratio of 0.55 and a beta of 1.07. Webster Financial Corporation has a 1-year low of $39.43 and a 1-year high of $64.41. The business’s fifty day moving average price is $58.05 and its two-hundred day moving average price is $57.79.

Webster Financial (NYSE:WBSGet Free Report) last released its quarterly earnings results on Friday, October 17th. The financial services provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.52 by $0.02. Webster Financial had a net margin of 21.32% and a return on equity of 11.07%. The business had revenue of $756.06 million during the quarter, compared to analyst estimates of $725.22 million. During the same quarter in the prior year, the firm earned $1.34 earnings per share. On average, research analysts expect that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, November 10th were paid a $0.40 dividend. The ex-dividend date was Monday, November 10th. This represents a $1.60 annualized dividend and a dividend yield of 2.5%. Webster Financial’s dividend payout ratio (DPR) is presently 29.80%.

Analysts Set New Price Targets

Several research firms have recently weighed in on WBS. Barclays boosted their target price on shares of Webster Financial from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Cantor Fitzgerald started coverage on Webster Financial in a report on Wednesday, September 10th. They issued an “overweight” rating and a $70.00 price objective for the company. Cowen assumed coverage on Webster Financial in a research note on Wednesday, September 24th. They set a “buy” rating on the stock. Morgan Stanley lifted their target price on Webster Financial from $64.00 to $77.00 and gave the stock an “underperform” rating in a research report on Monday, September 29th. Finally, Truist Financial dropped their price target on Webster Financial from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Monday, October 20th. Fourteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.85.

View Our Latest Analysis on Webster Financial

About Webster Financial

(Free Report)

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.

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