Houlihan Financial Resource Group Ltd. Takes $726,000 Position in Webster Financial Co. (NYSE:WBS)

Houlihan Financial Resource Group Ltd. purchased a new position in shares of Webster Financial Co. (NYSE:WBS - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,575 shares of the financial services provider's stock, valued at approximately $726,000.

A number of other large investors have also modified their holdings of WBS. Sound Income Strategies LLC raised its stake in Webster Financial by 1,859.1% in the 2nd quarter. Sound Income Strategies LLC now owns 15,692 shares of the financial services provider's stock worth $684,000 after acquiring an additional 14,891 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Webster Financial in the first quarter worth about $3,529,000. Sei Investments Co. lifted its holdings in shares of Webster Financial by 14.8% during the first quarter. Sei Investments Co. now owns 1,696,519 shares of the financial services provider's stock worth $86,133,000 after purchasing an additional 218,877 shares during the period. Boston Partners boosted its position in Webster Financial by 44.2% in the first quarter. Boston Partners now owns 264,937 shares of the financial services provider's stock valued at $13,439,000 after buying an additional 81,201 shares during the last quarter. Finally, Texas Permanent School Fund Corp increased its holdings in Webster Financial by 13.5% in the 2nd quarter. Texas Permanent School Fund Corp now owns 170,852 shares of the financial services provider's stock worth $7,447,000 after buying an additional 20,300 shares during the period. Hedge funds and other institutional investors own 85.58% of the company's stock.

Insiders Place Their Bets

In other news, insider Javier L. Evans sold 10,137 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $57.41, for a total value of $581,965.17. Following the transaction, the insider now owns 22,657 shares in the company, valued at $1,300,738.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Webster Financial news, insider Javier L. Evans sold 10,137 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $57.41, for a total value of $581,965.17. Following the completion of the sale, the insider now owns 22,657 shares in the company, valued at approximately $1,300,738.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Pettie sold 4,500 shares of the firm'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 transaction of $230,130.00. Following the completion of the transaction, the director now directly owns 32,780 shares in the company, valued at $1,676,369.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,100 shares of company stock worth $1,202,237. Corporate insiders own 0.88% of the company's stock.

Webster Financial Price Performance

Shares of NYSE:WBS traded up $0.02 during midday trading on Friday, reaching $57.70. 1,490,092 shares of the company's stock traded hands, compared to its average volume of 1,583,281. The company has a fifty day simple moving average of $48.36 and a two-hundred day simple moving average of $45.97. Webster Financial Co. has a 1 year low of $38.54 and a 1 year high of $60.13. The company has a market cap of $9.89 billion, a P/E ratio of 13.08, a PEG ratio of 0.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86.

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

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Friday, November 1st will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Friday, November 1st. Webster Financial's payout ratio is 36.28%.

Wall Street Analyst Weigh In

Several brokerages have commented on WBS. JPMorgan Chase & Co. decreased their price objective on shares of Webster Financial from $58.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday, October 9th. Wedbush boosted their target price on shares of Webster Financial from $52.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Morgan Stanley cut their price target on Webster Financial from $57.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Monday, September 30th. StockNews.com raised Webster Financial from a "sell" rating to a "hold" rating in a report on Tuesday, October 29th. Finally, Stephens set a $58.00 target price on Webster Financial in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $57.85.

Webster Financial Company Profile

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.