Lecap Asset Management Ltd. Purchases Shares of 14,380 Webster Financial Co. (NYSE:WBS)

Lecap Asset Management Ltd. purchased a new stake in Webster Financial Co. (NYSE:WBS) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,380 shares of the financial services provider’s stock, valued at approximately $627,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WBS. Rise Advisors LLC acquired a new position in Webster Financial in the first quarter valued at about $29,000. Spire Wealth Management lifted its position in shares of Webster Financial by 79.1% during the fourth quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 268 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of Webster Financial during the fourth quarter worth approximately $45,000. Mather Group LLC. lifted its position 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 worth $54,000 after purchasing an additional 1,224 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Webster Financial by 29.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 255 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Webster Financial Stock Up 0.3 %

WBS traded up $0.14 during trading hours on Thursday, hitting $45.25. 77,569 shares of the company’s stock were exchanged, compared to its average volume of 1,246,599. Webster Financial Co. has a 1-year low of $36.36 and a 1-year high of $53.39. The stock’s 50-day moving average is $44.58 and its two-hundred day moving average is $45.82. The stock has a market cap of $7.76 billion, a price-to-earnings ratio of 9.25, a PEG ratio of 0.68 and a beta of 1.30. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.44.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $671.91 million. Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. During the same quarter in the prior year, the business earned $1.50 EPS. Sell-side analysts predict that Webster Financial Co. will post 5.27 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Monday, July 29th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date was Monday, July 29th. Webster Financial’s dividend payout ratio is currently 32.79%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WBS shares. Citigroup reduced their target price on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods reduced their target price on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 9th. Royal Bank of Canada reduced their target price on shares of Webster Financial from $54.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Finally, Barclays dropped their price target on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.36.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $49.07, for a total value of $245,350.00. Following the completion of the sale, the insider now owns 45,157 shares in the company, valued at $2,215,853.99. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $48.04, for a total transaction of $384,320.00. Following the completion of the sale, the chief executive officer now owns 237,049 shares in the company, valued at approximately $11,387,833.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Charles L. Wilkins sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $49.07, for a total transaction of $245,350.00. Following the sale, the insider now owns 45,157 shares of the company’s stock, valued at approximately $2,215,853.99. The disclosure for this sale can be found here. Insiders sold a total of 14,650 shares of company stock worth $706,098 over the last quarter. 0.88% of the stock is currently owned by insiders.

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.