Benin Management CORP Acquires New Holdings in Webster Financial Co. (NYSE:WBS)

Benin Management CORP acquired a new stake in shares of Webster Financial Co. (NYSE:WBS) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,300 shares of the financial services provider’s stock, valued at approximately $200,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WBS. Dimensional Fund Advisors LP increased its holdings in Webster Financial by 28.0% during the second quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock valued at $240,687,000 after buying an additional 1,206,575 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Webster Financial by 64.9% during the second quarter. Point72 Asset Management L.P. now owns 1,604,198 shares of the financial services provider’s stock valued at $69,927,000 after buying an additional 631,080 shares during the last quarter. Bank of Montreal Can increased its holdings in Webster Financial by 1,482.9% during the second quarter. Bank of Montreal Can now owns 339,246 shares of the financial services provider’s stock valued at $14,801,000 after buying an additional 317,814 shares during the last quarter. Earnest Partners LLC increased its holdings in Webster Financial by 11.2% during the first quarter. Earnest Partners LLC now owns 3,072,624 shares of the financial services provider’s stock valued at $155,997,000 after buying an additional 308,455 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Webster Financial by 12.9% during the second quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock valued at $115,096,000 after buying an additional 301,935 shares during the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on WBS shares. Wells Fargo & Company upped their target price on shares of Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a report on Friday. Jefferies Financial Group reduced their price objective on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods reduced their price objective on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, July 9th. Royal Bank of Canada increased their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Barclays increased their price objective on shares of Webster Financial from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Webster Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.85.

Webster Financial Price Performance

Shares of NYSE:WBS traded down $1.19 during midday trading on Monday, reaching $51.72. 281,208 shares of the company were exchanged, compared to its average volume of 1,247,333. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. The business’s fifty day moving average is $46.21 and its two-hundred day moving average is $45.33. Webster Financial Co. has a one year low of $36.36 and a one year high of $54.38. The stock has a market cap of $8.87 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 0.88 and a beta of 1.28.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.01). Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. The business had revenue of $647.62 million for the quarter, compared to the consensus estimate of $677.72 million. During the same quarter last year, the business earned $1.55 EPS. As a group, analysts predict that Webster Financial Co. will post 5.26 earnings per share for the current year.

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 transaction of $245,350.00. Following the completion of the transaction, the insider now owns 45,157 shares in the company, valued at $2,215,853.99. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Charles L. Wilkins sold 5,000 shares of the firm’s stock in a transaction dated 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 approximately $2,215,853.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason A. Soto sold 1,650 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total transaction of $76,428.00. Following the completion of the sale, the insider now owns 20,539 shares of the company’s stock, valued at $951,366.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.88% of the stock is owned by company insiders.

Webster Financial 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.