Basswood Capital Management L.L.C. Purchases 93,929 Shares of Webster Financial Co. (NYSE:WBS)

Basswood Capital Management L.L.C. boosted its stake in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,777,413 shares of the financial services provider's stock after buying an additional 93,929 shares during the period. Webster Financial accounts for about 4.3% of Basswood Capital Management L.L.C.'s investment portfolio, making the stock its 2nd biggest holding. Basswood Capital Management L.L.C. owned approximately 1.04% of Webster Financial worth $82,845,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Tidal Investments LLC grew its holdings in Webster Financial by 11.3% during the first quarter. Tidal Investments LLC now owns 10,559 shares of the financial services provider's stock worth $536,000 after acquiring an additional 1,069 shares during the period. Atria Investments Inc purchased a new position in shares of Webster Financial during the 1st quarter valued at approximately $1,049,000. Cetera Investment Advisers increased its holdings in shares of Webster Financial by 402.4% during the 1st quarter. Cetera Investment Advisers now owns 32,066 shares of the financial services provider's stock valued at $1,628,000 after purchasing an additional 25,683 shares in the last quarter. Cetera Advisors LLC increased its holdings in shares of Webster Financial by 24.4% during the 1st quarter. Cetera Advisors LLC now owns 7,307 shares of the financial services provider's stock valued at $371,000 after purchasing an additional 1,435 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Webster Financial by 30.1% in the second quarter. GAMMA Investing LLC now owns 1,629 shares of the financial services provider's stock valued at $71,000 after buying an additional 377 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company's stock.

Insider Activity at Webster Financial

In related news, Director Lauren States sold 1,650 shares of the business's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $60.60, for a total value of $99,990.00. Following the transaction, the director now owns 15,023 shares in the company, valued at $910,393.80. The trade was a 9.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mark Pettie sold 4,500 shares of the business's stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total value of $230,130.00. Following the transaction, the director now owns 32,780 shares in the company, valued at $1,676,369.20. The trade was a 12.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,750 shares of company stock valued at $2,074,367 over the last quarter. 0.72% of the stock is owned by insiders.

Webster Financial Stock Down 0.9 %

NYSE:WBS traded down $0.53 during midday trading on Monday, reaching $61.25. The company had a trading volume of 292,669 shares, compared to its average volume of 1,250,380. The stock's fifty day simple moving average is $52.93 and its 200-day simple moving average is $47.61. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. Webster Financial Co. has a 12-month low of $39.33 and a 12-month high of $63.99. The firm has a market capitalization of $10.50 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 0.91 and a beta of 1.29.

Webster Financial (NYSE:WBS - Get Free Report) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing analysts' consensus estimates of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The firm had revenue of $647.62 million for the quarter, compared to analysts' expectations of $677.72 million. During the same quarter in the previous year, the company posted $1.55 earnings per share. On average, sell-side analysts anticipate that Webster Financial Co. will post 5.24 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.61%. Webster Financial's payout ratio is currently 36.28%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WBS. Royal Bank of Canada lifted their target price on shares of Webster Financial from $57.00 to $62.00 and gave the company an "outperform" rating in a research report on Friday, October 18th. Stephens set a $58.00 target price on shares of Webster Financial in a research report on Thursday, October 17th. Wells Fargo & Company upped their price objective on shares of Webster Financial from $50.00 to $60.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. JPMorgan Chase & Co. decreased their target price on shares of Webster Financial from $58.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 9th. Finally, Wedbush upped their price target on Webster Financial from $52.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $57.85.

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.