AlphaStar Capital Management LLC Makes New $205,000 Investment in Webster Financial Corporation $WBS

by · The Markets Daily

AlphaStar Capital Management LLC purchased a new position in Webster Financial Corporation (NYSE:WBS – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund purchased 3,762 shares of the financial services provider’s stock, valued at approximately $205,000.

Several other large investors have also recently modified their holdings of the stock. Strs Ohio raised its position in shares of Webster Financial by 2.0% in the 2nd quarter. Strs Ohio now owns 37,876 shares of the financial services provider’s stock worth $2,068,000 after purchasing an additional 739 shares during the last quarter. Keybank National Association OH purchased a new stake in shares of Webster Financial during the second quarter valued at approximately $216,000. Hantz Financial Services Inc. grew its holdings in shares of Webster Financial by 50.3% during the second quarter. Hantz Financial Services Inc. now owns 899 shares of the financial services provider’s stock valued at $49,000 after buying an additional 301 shares during the last quarter. Leeward Investments LLC MA grew its holdings in shares of Webster Financial by 54.3% during the second quarter. Leeward Investments LLC MA now owns 214,241 shares of the financial services provider’s stock valued at $11,698,000 after buying an additional 75,356 shares during the last quarter. Finally, Brighton Jones LLC purchased a new stake in shares of Webster Financial during the second quarter valued at approximately $330,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Up 0.7%

Shares of Webster Financial stock opened at $56.98 on Friday. The company has a market cap of $9.47 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 0.50 and a beta of 1.05. The company’s 50 day moving average is $59.45 and its 200 day moving average is $55.94. Webster Financial Corporation has a twelve month low of $39.43 and a twelve month high of $63.99. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.42.

Webster Financial (NYSE:WBS – Get Free Report) last issued its quarterly earnings data on Friday, October 17th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.02. The company had revenue of $732.60 million for the quarter, compared to the consensus estimate of $725.22 million. Webster Financial had a net margin of 21.32% and a return on equity of 11.07%. During the same quarter in the prior year, the firm earned $1.34 earnings per share. Research analysts anticipate that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, November 10th will be given a $0.40 dividend. The ex-dividend date is Monday, November 10th. This represents a $1.60 annualized dividend and a yield of 2.8%. Webster Financial’s dividend payout ratio (DPR) is presently 29.80%.

Insiders Place Their Bets

In other Webster Financial news, CAO Elzbieta Cieslik sold 2,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $61.58, for a total value of $123,160.00. Following the transaction, the chief accounting officer directly owned 14,894 shares in the company, valued at approximately $917,172.52. This trade represents a 11.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 239,872 shares in the company, valued at $13,900,582.40. The trade was a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 11,807 shares of company stock worth $698,527. Company insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on WBS shares. Keefe, Bruyette & Woods increased their price target on shares of Webster Financial from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Friday, July 18th. Seaport Res Ptn cut shares of Webster Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Weiss Ratings cut shares of Webster Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. Morgan Stanley increased their price target on shares of Webster Financial from $64.00 to $77.00 and gave the company an “underperform” rating in a report on Monday, September 29th. Finally, TD Cowen started coverage on shares of Webster Financial in a report on Thursday, September 25th. They set a “buy” rating and a $78.00 price target on the stock. Thirteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.69.

Get Our Latest Research Report on Webster Financial

Webster Financial Profile

(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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