Renaissance Technologies LLC Boosts Stock Position in Webster Financial Co. (NYSE:WBS)

Renaissance Technologies LLC lifted its holdings in Webster Financial Co. (NYSE:WBS) by 74.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 589,131 shares of the financial services provider’s stock after purchasing an additional 250,800 shares during the quarter. Renaissance Technologies LLC owned 0.64% of Webster Financial worth $28,143,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of WBS. Hilton Capital Management LLC purchased a new position in Webster Financial during the first quarter worth $54,000. Advisory Services Network LLC boosted its stake in shares of Webster Financial by 10.1% during the first quarter. Advisory Services Network LLC now owns 2,988 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 275 shares during the period. Cetera Advisor Networks LLC purchased a new stake in shares of Webster Financial during the first quarter valued at $200,000. Menta Capital LLC purchased a new stake in shares of Webster Financial during the second quarter valued at $202,000. Finally, Stone Ridge Asset Management LLC purchased a new stake in shares of Webster Financial during the second quarter valued at $205,000. 88.52% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on the stock. Boenning Scattergood reissued a “neutral” rating on shares of Webster Financial in a research note on Friday, July 19th. Morgan Stanley raised shares of Webster Financial from an “underweight” rating to an “equal weight” rating and set a $51.00 target price for the company in a research note on Monday, July 1st. Finally, Zacks Investment Research raised shares of Webster Financial from a “sell” rating to a “hold” rating and set a $49.00 target price for the company in a research note on Friday, July 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Webster Financial presently has an average rating of “Hold” and a consensus target price of $56.25.

Shares of WBS traded up $1.15 during trading hours on Friday, reaching $49.26. 575,347 shares of the company traded hands, compared to its average volume of 523,691. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.46 and a beta of 1.29. Webster Financial Co. has a 12-month low of $42.62 and a 12-month high of $63.34. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.67. The stock’s fifty day moving average price is $46.74 and its 200 day moving average price is $49.58.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.02. The firm had revenue of $317.60 million during the quarter, compared to the consensus estimate of $312.36 million. Webster Financial had a return on equity of 13.80% and a net margin of 27.99%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. On average, research analysts forecast that Webster Financial Co. will post 4.11 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were issued a $0.40 dividend. The ex-dividend date was Friday, August 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.25%. Webster Financial’s payout ratio is currently 42.78%.

In related news, EVP Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $51.45, for a total value of $102,900.00. Following the completion of the sale, the executive vice president now directly owns 18,654 shares in the company, valued at $959,748.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Joseph Crawford sold 1,000 shares of Webster Financial stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $51.28, for a total value of $51,280.00. Following the completion of the sale, the director now owns 15,099 shares of the company’s stock, valued at $774,276.72. The disclosure for this sale can be found here. Insiders sold 4,000 shares of company stock valued at $203,670 over the last 90 days. 1.53% of the stock is currently owned by corporate insiders.

Webster Financial Profile

Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.

See Also: Moving Average – How it Helps Investors in Stock Selection

Want to see what other hedge funds are holding WBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Webster Financial Co. (NYSE:WBS).

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

Receive News & Ratings for Webster Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Webster Financial and related companies with MarketBeat.com's FREE daily email newsletter.