Deroy & Devereaux Private Investment Counsel Inc. Acquires 82,430 Shares of Webster Financial Co. (NYSE:WBS)

Deroy & Devereaux Private Investment Counsel Inc. lifted its position in Webster Financial Co. (NYSE:WBS - Free Report) by 19.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 512,196 shares of the financial services provider's stock after purchasing an additional 82,430 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc. owned 0.30% of Webster Financial worth $23,873,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WBS. V Square Quantitative Management LLC bought a new stake in shares of Webster Financial in the 3rd quarter valued at approximately $27,000. UMB Bank n.a. raised its stake in Webster Financial by 340.7% during the third quarter. UMB Bank n.a. now owns 595 shares of the financial services provider's stock worth $28,000 after acquiring an additional 460 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in Webster Financial during the second quarter worth $32,000. Mather Group LLC. lifted its holdings in shares of Webster Financial by 7,650.0% during the second quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 1,224 shares during the period. Finally, NBC Securities Inc. boosted its stake in shares of Webster Financial by 117.9% in the 3rd quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 686 shares in the last quarter. 85.58% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Webster Financial news, insider Daniel Bley sold 3,463 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $52.10, for a total value of $180,422.30. Following the transaction, the insider now owns 19,529 shares of the company's stock, valued at approximately $1,017,460.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Webster Financial news, insider Daniel Bley sold 3,463 shares of the company's stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $52.10, for a total value of $180,422.30. Following the completion of the sale, the insider now owns 19,529 shares of the company's stock, valued at approximately $1,017,460.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Pettie sold 4,500 shares of Webster Financial stock in a transaction 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 transaction, the director now directly owns 32,780 shares in the company, valued at approximately $1,676,369.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,963 shares of company stock valued at $620,272 over the last three months. Company insiders own 0.88% of the company's stock.

Webster Financial Trading Down 2.1 %

WBS stock traded down $1.09 during midday trading on Friday, reaching $50.71. The stock had a trading volume of 929,448 shares, compared to its average volume of 1,244,169. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. Webster Financial Co. has a twelve month low of $37.83 and a twelve month high of $54.38. The firm has a market cap of $8.69 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 0.88 and a beta of 1.28. The business has a fifty day simple moving average of $47.53 and a two-hundred day simple moving average of $45.64.

Webster Financial (NYSE:WBS - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The business had revenue of $647.62 million for the quarter, compared to analyst estimates of $677.72 million. During the same quarter in the prior year, the firm earned $1.55 EPS. As a group, research analysts expect that Webster Financial Co. will post 5.27 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.60 annualized dividend and a dividend yield of 3.16%. Webster Financial's dividend payout ratio is currently 36.28%.

Analyst Ratings Changes

A number of brokerages recently issued reports on WBS. Wedbush increased their target price on shares of Webster Financial from $52.00 to $59.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Royal Bank of Canada raised their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the stock an "outperform" rating in a report on Friday, October 18th. Barclays lifted their target price on shares of Webster Financial from $60.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, October 18th. JPMorgan Chase & Co. decreased their price target on Webster Financial from $58.00 to $55.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 9th. Finally, StockNews.com upgraded Webster Financial from a "sell" rating to a "hold" rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.