Tidal Investments LLC Buys 11,639 Shares of Webster Financial Co. (NYSE:WBS)

Tidal Investments LLC increased its stake in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 58.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,599 shares of the financial services provider's stock after acquiring an additional 11,639 shares during the period. Tidal Investments LLC's holdings in Webster Financial were worth $1,473,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of WBS. State Street Corp lifted its stake in shares of Webster Financial by 4.8% during the 3rd quarter. State Street Corp now owns 7,320,930 shares of the financial services provider's stock worth $341,229,000 after buying an additional 333,606 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Webster Financial by 28.0% during the second quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider's stock worth $240,687,000 after buying an additional 1,206,575 shares in the last quarter. Earnest Partners LLC increased its position in shares of Webster Financial by 0.4% in the second quarter. Earnest Partners LLC now owns 3,086,111 shares of the financial services provider's stock worth $134,524,000 after purchasing an additional 13,487 shares during the period. Geode Capital Management LLC raised its position in shares of Webster Financial by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,969,928 shares of the financial services provider's stock valued at $138,465,000 after buying an additional 54,613 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Webster Financial by 12.9% during the 2nd quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider's stock worth $115,096,000 after acquiring an additional 301,935 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors.

Insider Activity at Webster Financial

In other news, insider Daniel Bley sold 3,463 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $52.10, for a total transaction 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 15.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Javier L. Evans sold 10,137 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $57.41, for a total transaction of $581,965.17. Following the transaction, the insider now directly owns 22,657 shares of the company's stock, valued at approximately $1,300,738.37. This trade represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,250 shares of company stock valued at $2,105,322 over the last three months. 0.88% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WBS shares. Stephens set a $58.00 price target on Webster Financial in a report on Thursday, October 17th. Barclays boosted their target price on shares of Webster Financial from $63.00 to $69.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. JPMorgan Chase & Co. cut their price objective on Webster Financial from $58.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 9th. StockNews.com raised shares of Webster Financial from a "sell" rating to a "hold" rating in a research report on Friday, December 6th. Finally, Morgan Stanley lowered their price objective on Webster Financial from $57.00 to $54.00 and set an "equal weight" rating for the company in a research report on Monday, September 30th. 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.com, Webster Financial has an average rating of "Moderate Buy" and a consensus target price of $60.31.

Webster Financial Stock Performance

Shares of NYSE:WBS traded down $3.17 during trading on Wednesday, hitting $54.54. 2,218,812 shares of the company were exchanged, compared to its average volume of 1,236,306. The company has a market cap of $9.35 billion, a PE ratio of 12.37, a P/E/G ratio of 0.87 and a beta of 1.29. Webster Financial Co. has a 52-week low of $39.33 and a 52-week high of $63.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a 50 day moving average of $56.44 and a 200 day moving average of $48.89.

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

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial's dividend payout ratio (DPR) is 36.28%.

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.