TimesSquare Capital Management LLC Acquires 1,080 Shares of Webster Financial Co. (NYSE:WBS)

TimesSquare Capital Management LLC increased its holdings in shares of Webster Financial Co. (NYSE:WBS) by 1.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,750 shares of the financial services provider’s stock after acquiring an additional 1,080 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Webster Financial were worth $4,463,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Assetmark Inc. increased its holdings in shares of Webster Financial by 9.3% in the third quarter. Assetmark Inc. now owns 2,611 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 222 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Webster Financial by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock valued at $210,000 after acquiring an additional 248 shares during the period. William Blair Investment Management LLC lifted its position in Webster Financial by 6.5% during the first quarter. William Blair Investment Management LLC now owns 4,207 shares of the financial services provider’s stock worth $214,000 after acquiring an additional 255 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Webster Financial by 3.6% during the first quarter. US Bancorp DE now owns 7,487 shares of the financial services provider’s stock worth $380,000 after acquiring an additional 260 shares during the period. Finally, Covestor Ltd grew its position in shares of Webster Financial by 17.0% in the third quarter. Covestor Ltd now owns 1,895 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 276 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Up 0.0 %

Shares of WBS opened at $57.70 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86. Webster Financial Co. has a 52 week low of $38.54 and a 52 week high of $60.13. The stock has a market capitalization of $9.89 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 0.85 and a beta of 1.27. The stock has a fifty day moving average of $48.36 and a 200-day moving average of $45.97.

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

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Friday, November 1st. Webster Financial’s payout ratio is 36.28%.

Insider Buying and Selling at Webster Financial

In related news, CAO Albert Jen-Wen Wang sold 4,000 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $52.43, for a total value of $209,720.00. Following the sale, the chief accounting officer now owns 14,273 shares of the company’s stock, valued at $748,333.39. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Albert Jen-Wen Wang sold 4,000 shares of Webster Financial stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $52.43, for a total value of $209,720.00. Following the transaction, the chief accounting officer now directly owns 14,273 shares of the company’s stock, valued at $748,333.39. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Bley sold 3,463 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $52.10, for a total transaction of $180,422.30. Following the sale, the insider now directly owns 19,529 shares of the company’s stock, valued at $1,017,460.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,100 shares of company stock worth $1,202,237. 0.88% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WBS. StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Wells Fargo & Company upped their price target on shares of Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Morgan Stanley dropped their price objective on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday, September 30th. Wedbush increased their target price on shares of Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Stephens set a $58.00 price target on shares of Webster Financial in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.85.

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.