Coombe Bender & Co LLC Grows Stock Position in Webster Financial Co. (NYSE:WBS)

Coombe Bender & Co LLC boosted its holdings in shares of Webster Financial Co. (NYSE:WBS) by 99.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,507 shares of the financial services provider’s stock after acquiring an additional 22,731 shares during the period. Webster Financial comprises 1.4% of Coombe Bender & Co LLC’s portfolio, making the stock its 23rd largest holding. Coombe Bender & Co LLC’s holdings in Webster Financial were worth $2,310,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. FMR LLC lifted its position in shares of Webster Financial by 22.6% in the third quarter. FMR LLC now owns 7,258,411 shares of the financial services provider’s stock valued at $292,587,000 after acquiring an additional 1,339,862 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Webster Financial by 1.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,732,942 shares of the financial services provider’s stock valued at $110,165,000 after acquiring an additional 48,445 shares during the period. Earnest Partners LLC increased its holdings in Webster Financial by 8.4% in the 3rd quarter. Earnest Partners LLC now owns 2,394,951 shares of the financial services provider’s stock valued at $96,540,000 after purchasing an additional 184,905 shares in the last quarter. Davis Asset Management L.P. raised its position in Webster Financial by 9.4% in the third quarter. Davis Asset Management L.P. now owns 1,750,000 shares of the financial services provider’s stock valued at $70,542,000 after purchasing an additional 150,000 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Webster Financial by 13.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,363,237 shares of the financial services provider’s stock worth $69,198,000 after purchasing an additional 157,973 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $47.60, for a total transaction of $95,200.00. Following the sale, the insider now directly owns 27,955 shares in the company, valued at $1,330,658. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.88% of the stock is currently owned by insiders.

Webster Financial Stock Performance

NYSE WBS traded up $0.17 during trading hours on Thursday, reaching $44.55. The company’s stock had a trading volume of 2,048,045 shares, compared to its average volume of 1,190,719. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.54. The business has a 50-day simple moving average of $47.67 and a 200 day simple moving average of $46.67. Webster Financial Co. has a 52 week low of $31.03 and a 52 week high of $53.39. The stock has a market cap of $7.65 billion, a PE ratio of 9.09, a PEG ratio of 0.39 and a beta of 1.35.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The company had revenue of $667.10 million for the quarter, compared to analyst estimates of $680.72 million. During the same quarter in the prior year, the firm earned $1.49 EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts predict that Webster Financial Co. will post 5.62 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Friday, May 3rd. Webster Financial’s payout ratio is currently 32.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on WBS shares. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Raymond James reaffirmed an “outperform” rating and set a $60.00 price target on shares of Webster Financial in a report on Tuesday, March 26th. Citigroup cut their price objective on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Keefe, Bruyette & Woods reduced their price target on Webster Financial from $64.00 to $58.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Finally, Jefferies Financial Group dropped their price objective on Webster Financial from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Webster Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.23.

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.