First Citizens Bank & Trust Co. Has $435,000 Stake in Webster Financial Corporation (WBS)

First Citizens Bank & Trust Co. boosted its position in shares of Webster Financial Corporation (NYSE:WBS) by 31.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 8,332 shares of the financial services provider’s stock after buying an additional 1,985 shares during the period. First Citizens Bank & Trust Co.’s holdings in Webster Financial Corporation were worth $435,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Glen Harbor Capital Management LLC boosted its position in shares of Webster Financial Corporation by 20.9% in the first quarter. Glen Harbor Capital Management LLC now owns 5,516 shares of the financial services provider’s stock worth $276,000 after buying an additional 952 shares in the last quarter. IFC Holdings Incorporated FL purchased a new position in shares of Webster Financial Corporation during the first quarter worth approximately $900,000. NBW Capital LLC boosted its position in shares of Webster Financial Corporation by 8.2% in the first quarter. NBW Capital LLC now owns 65,426 shares of the financial services provider’s stock worth $3,274,000 after buying an additional 4,982 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of Webster Financial Corporation by 0.3% in the first quarter. Nationwide Fund Advisors now owns 230,868 shares of the financial services provider’s stock worth $11,553,000 after buying an additional 682 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its position in shares of Webster Financial Corporation by 0.3% in the first quarter. Retirement Systems of Alabama now owns 118,793 shares of the financial services provider’s stock worth $5,944,000 after buying an additional 342 shares in the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Webster Financial Corporation (WBS) opened at 48.24 on Thursday. Webster Financial Corporation has a 1-year low of $36.86 and a 1-year high of $57.50. The company’s 50 day moving average price is $51.86 and its 200-day moving average price is $51.72. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 20.10 and a beta of 1.25.

Webster Financial Corporation (NYSE:WBS) last announced its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.04. Webster Financial Corporation had a return on equity of 9.49% and a net margin of 20.43%. The business had revenue of $262.50 million for the quarter, compared to the consensus estimate of $260.91 million. During the same period in the previous year, the business earned $0.53 earnings per share. On average, equities analysts forecast that Webster Financial Corporation will post $2.55 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 7th will be given a $0.26 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.04 annualized dividend and a dividend yield of 2.16%. Webster Financial Corporation’s payout ratio is 43.33%.

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A number of brokerages have recently commented on WBS. Zacks Investment Research raised Webster Financial Corporation from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Saturday, July 8th. BidaskClub raised Webster Financial Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Jefferies Group LLC reaffirmed a “hold” rating and set a $53.00 price target on shares of Webster Financial Corporation in a research report on Friday, July 14th. Piper Jaffray Companies reiterated a “sell” rating and set a $46.00 price objective on shares of Webster Financial Corporation in a research note on Friday, July 14th. Finally, Barclays PLC boosted their price objective on Webster Financial Corporation from $50.00 to $52.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $53.00.

In other news, EVP Nitin J. Mhatre sold 31,940 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $51.34, for a total value of $1,639,799.60. Following the transaction, the executive vice president now directly owns 23,120 shares in the company, valued at $1,186,980.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel Bley sold 8,000 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $51.20, for a total value of $409,600.00. Following the completion of the transaction, the executive vice president now owns 25,657 shares in the company, valued at $1,313,638.40. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.

About Webster Financial Corporation

Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.

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

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