Seven Eight Capital LP Invests $493,000 in Webster Financial Co. (NYSE:WBS)

Seven Eight Capital LP purchased a new position in shares of Webster Financial Co. (NYSE:WBS) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,711 shares of the financial services provider’s stock, valued at approximately $493,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its stake in shares of Webster Financial by 29.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 255 shares during the last quarter. William Blair Investment Management LLC lifted its stake in shares of Webster Financial by 6.5% during the 1st 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 lifted its stake in shares of Webster Financial by 3.6% during the 1st 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 last quarter. Spire Wealth Management lifted its stake in shares of Webster Financial by 79.1% during the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 268 shares during the last quarter. Finally, Wedmont Private Capital lifted its stake in shares of Webster Financial by 6.5% during the 1st quarter. Wedmont Private Capital now owns 6,054 shares of the financial services provider’s stock worth $294,000 after acquiring an additional 367 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Citigroup decreased their target price on Webster Financial from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Barclays decreased their target price on Webster Financial from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Raymond James reaffirmed an “outperform” rating and set a $60.00 target price on shares of Webster Financial in a research report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. decreased their target price on Webster Financial from $63.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, June 27th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Webster Financial presently has an average rating of “Moderate Buy” and a consensus price target of $55.73.

Webster Financial Stock Performance

Webster Financial stock traded up $0.35 during trading hours on Wednesday, hitting $46.36. 2,348,182 shares of the stock traded hands, compared to its average volume of 1,266,384. The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 9.63, a P/E/G ratio of 0.58 and a beta of 1.30. The firm’s 50 day moving average price is $43.83 and its 200-day moving average price is $46.48. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.86 and a quick ratio of 0.86. Webster Financial Co. has a 1 year low of $36.36 and a 1 year high of $53.39.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.08). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $671.91 million. Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. During the same period last year, the firm earned $1.50 EPS. As a group, equities analysts expect that Webster Financial Co. will post 5.53 EPS for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Monday, July 29th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, July 29th. This represents a $1.60 dividend on an annualized basis and a yield of 3.45%. Webster Financial’s payout ratio is 32.79%.

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.