Webster Financial Co. (NYSE:WBS) Shares Bought by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board grew its stake in Webster Financial Co. (NYSE:WBS) by 83.6% during the 1st quarter, Holdings Channel reports. The firm owned 12,037 shares of the financial services provider’s stock after purchasing an additional 5,480 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Webster Financial were worth $611,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Webster Financial by 0.3% in the first quarter. Vanguard Group Inc. now owns 17,926,270 shares of the financial services provider’s stock valued at $910,117,000 after purchasing an additional 54,841 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Webster Financial by 12.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,916,013 shares of the financial services provider’s stock worth $198,785,000 after buying an additional 430,331 shares in the last quarter. Davis Asset Management L.P. lifted its stake in shares of Webster Financial by 14.3% in the fourth quarter. Davis Asset Management L.P. now owns 2,000,000 shares of the financial services provider’s stock worth $101,520,000 after buying an additional 250,000 shares in the last quarter. Norges Bank purchased a new position in shares of Webster Financial in the fourth quarter worth about $97,217,000. Finally, Sei Investments Co. lifted its stake in shares of Webster Financial by 14.8% in the first quarter. Sei Investments Co. now owns 1,696,519 shares of the financial services provider’s stock worth $86,133,000 after buying an additional 218,877 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Insider Activity at Webster Financial

In related news, insider Daniel Bley sold 2,280 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $44.80, for a total value of $102,144.00. Following the sale, the insider now directly owns 28,693 shares of the company’s stock, valued at approximately $1,285,446.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Webster Financial news, insider Daniel Bley sold 2,280 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $44.80, for a total value of $102,144.00. Following the transaction, the insider now directly owns 28,693 shares in the company, valued at approximately $1,285,446.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $48.04, for a total transaction of $384,320.00. Following the transaction, the chief executive officer now owns 237,049 shares in the company, valued at $11,387,833.96. The disclosure for this sale can be found here. 0.88% of the stock is owned by corporate insiders.

Webster Financial Stock Performance

Webster Financial stock traded up $0.97 during trading hours on Monday, reaching $48.79. 3,538,186 shares of the stock were exchanged, compared to its average volume of 1,235,403. The stock has a market cap of $8.37 billion, a P/E ratio of 9.73, a P/E/G ratio of 0.57 and a beta of 1.30. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.86 and a current ratio of 0.86. Webster Financial Co. has a 52-week low of $36.36 and a 52-week high of $53.39. The firm’s 50 day moving average is $43.77 and its 200 day moving average is $46.52.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The company had revenue of $667.10 million for the quarter, compared to analyst estimates of $680.72 million. Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the company earned $1.49 earnings per share. Analysts predict that Webster Financial Co. will post 5.53 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Monday, July 29th will be paid a $0.40 dividend. The ex-dividend date is Monday, July 29th. This represents a $1.60 dividend on an annualized basis and a yield of 3.28%. Webster Financial’s payout ratio is 32.79%.

Analyst Ratings Changes

WBS has been the topic of several research reports. Barclays decreased their price target on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. JPMorgan Chase & Co. reduced their target price on shares of Webster Financial from $63.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Raymond James reiterated an “outperform” rating and set a $60.00 price target on shares of Webster Financial in a research report on Tuesday, March 26th. Jefferies Financial Group dropped their price target on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Finally, StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $56.00.

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.