home Latest News Connecticut Wealth Management LLC Makes New $520,000 Investment in Webster Financial Co. (NYSE:WBS) – Mitchell Messenger

Connecticut Wealth Management LLC Makes New $520,000 Investment in Webster Financial Co. (NYSE:WBS) – Mitchell Messenger

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Connecticut Wealth Management LLC bought a new position in shares of Webster Financial Co. (NYSE:WBS) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,099 shares of the financial services provider’s stock, valued at approximately $520,000.

A number of other large investors have also modified their holdings of the business. First Trust Advisors LP boosted its position in shares of Webster Financial by 31.8% in the first quarter. First Trust Advisors LP now owns 54,618 shares of the financial services provider’s stock valued at $2,767,000 after acquiring an additional 13,181 shares during the period. Pennsylvania Trust Co boosted its position in shares of Webster Financial by 27.0% in the second quarter. Pennsylvania Trust Co now owns 15,695 shares of the financial services provider’s stock valued at $750,000 after acquiring an additional 3,340 shares during the period. Founders Capital Management LLC bought a new position in shares of Webster Financial in the second quarter valued at approximately $313,000. Ridgewood Investments LLC boosted its position in shares of Webster Financial by 139.7% in the second quarter. Ridgewood Investments LLC now owns 11,740 shares of the financial services provider’s stock valued at $561,000 after acquiring an additional 6,843 shares during the period. Finally, Clark Capital Management Group Inc. boosted its position in shares of Webster Financial by 2.3% in the second quarter. Clark Capital Management Group Inc. now owns 44,139 shares of the financial services provider’s stock valued at $2,109,000 after acquiring an additional 1,007 shares during the period. Hedge funds and other institutional investors own 88.68% of the company’s stock.

Shares of NYSE WBS opened at $48.63 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.65. Webster Financial Co. has a 52 week low of $42.29 and a 52 week high of $61.49. The firm’s fifty day moving average is $45.98 and its 200 day moving average is $47.43. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 1.47 and a beta of 1.27.

Webster Financial (NYSE:WBS) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.01). Webster Financial had a return on equity of 13.49% and a net margin of 27.14%. The firm had revenue of $310.50 million during the quarter, compared to analysts’ expectations of $314.65 million. During the same period in the previous year, the firm earned $0.98 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities research analysts anticipate that Webster Financial Co. will post 4.09 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Friday, November 8th. Webster Financial’s payout ratio is 42.78%.

A number of equities analysts have recently commented on the stock. ValuEngine upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Stephens initiated coverage on shares of Webster Financial in a research note on Monday, October 28th. They issued an “underweight” rating and a $42.00 target price on the stock. Sandler O’Neill downgraded shares of Webster Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Zacks Investment Research downgraded shares of Webster Financial from a “hold” rating to a “sell” rating and set a $47.00 target price on the stock. in a research note on Saturday, October 19th. Finally, Compass Point downgraded shares of Webster Financial from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Webster Financial currently has an average rating of “Hold” and an average target price of $52.33.

In other news, Director John Joseph Crawford sold 2,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $45.34, for a total transaction of $90,680.00. Following the sale, the director now owns 12,099 shares in the company, valued at approximately $548,568.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark Pettie sold 4,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $46.32, for a total transaction of $185,280.00. Following the sale, the director now owns 35,272 shares in the company, valued at approximately $1,633,799.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,000 shares of company stock worth $321,640. 1.53% of the stock is owned by insiders.

About Webster Financial

Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.

Further Reading: Equity Income

Institutional Ownership by Quarter for Webster Financial (NYSE:WBS)

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