Tidal Investments LLC Purchases 11,639 Shares of Webster Financial Co. (NYSE:WBS)

Tidal Investments LLC lifted its position in shares of Webster Financial Co. (NYSE:WBS) by 58.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,599 shares of the financial services provider’s stock after acquiring an additional 11,639 shares during the period. Tidal Investments LLC’s holdings in Webster Financial were worth $1,473,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in WBS. Fifth Third Bancorp lifted its holdings in shares of Webster Financial by 1.0% during the 2nd quarter. Fifth Third Bancorp now owns 44,069 shares of the financial services provider’s stock worth $1,921,000 after acquiring an additional 447 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in shares of Webster Financial during the 2nd quarter worth approximately $285,000. Lecap Asset Management Ltd. acquired a new position in Webster Financial during the 2nd quarter worth approximately $627,000. New York State Teachers Retirement System increased its position in Webster Financial by 2.3% during the 2nd quarter. New York State Teachers Retirement System now owns 269,207 shares of the financial services provider’s stock worth $11,735,000 after purchasing an additional 6,091 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Webster Financial by 6.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,682,750 shares of the financial services provider’s stock worth $73,351,000 after purchasing an additional 98,571 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

Insider Activity

In related news, insider Javier L. Evans sold 10,137 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $57.41, for a total transaction of $581,965.17. Following the transaction, the insider now directly owns 22,657 shares of the company’s stock, valued at $1,300,738.37. This represents a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Bley sold 500 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $61.91, for a total transaction of $30,955.00. Following the transaction, the insider now directly owns 17,279 shares in the company, valued at approximately $1,069,742.89. This represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,250 shares of company stock valued at $2,105,322. 0.88% of the stock is currently owned by insiders.

Analyst Ratings Changes

WBS has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. UBS Group initiated coverage on shares of Webster Financial in a research report on Tuesday. They set a “buy” rating and a $76.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of Webster Financial from $60.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Stephens set a $58.00 price objective on shares of Webster Financial in a research report on Thursday, October 17th. Finally, Wedbush upped their price objective 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. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.31.

Webster Financial Trading Down 2.2 %

NYSE:WBS opened at $57.71 on Wednesday. The firm’s fifty day moving average is $56.26 and its 200-day moving average is $48.85. 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 $39.33 and a 52 week high of $63.99. The firm has a market cap of $9.89 billion, a P/E ratio of 13.09, a P/E/G ratio of 0.87 and a beta of 1.29.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data 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). Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. The firm had revenue of $647.62 million during the quarter, compared to the consensus estimate of $677.72 million. During the same period in the prior year, the company posted $1.55 earnings per share. Equities analysts expect that Webster Financial Co. will post 5.24 earnings per share for the current year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Friday, November 1st. Webster Financial’s dividend payout ratio is currently 36.28%.

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.