Grove Bank & Trust Makes New $105,000 Investment in Webster Financial Co. (NYSE:WBS)

Grove Bank & Trust bought a new position in Webster Financial Co. (NYSE:WBS) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,901 shares of the financial services provider’s stock, valued at approximately $105,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. HB Wealth Management LLC bought a new position in shares of Webster Financial in the 4th quarter worth $316,000. Hennion & Walsh Asset Management Inc. bought a new position in shares of Webster Financial in the 4th quarter worth $269,000. Park Avenue Securities LLC bought a new position in shares of Webster Financial in the 4th quarter worth $246,000. Assenagon Asset Management S.A. increased its holdings in shares of Webster Financial by 4.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 498,465 shares of the financial services provider’s stock worth $27,525,000 after buying an additional 23,328 shares during the last quarter. Finally, Wedmont Private Capital increased its holdings in shares of Webster Financial by 3.2% in the 4th quarter. Wedmont Private Capital now owns 7,628 shares of the financial services provider’s stock worth $409,000 after buying an additional 237 shares during the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Webster Financial

In related news, insider Daniel Bley sold 500 shares of Webster Financial stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $61.91, for a total transaction of $30,955.00. Following the completion of the transaction, the insider now directly owns 17,279 shares of the company’s stock, valued at $1,069,742.89. This trade represents a 2.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Javier L. Evans sold 10,137 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $57.41, for a total transaction of $581,965.17. Following the sale, the insider now owns 22,657 shares of the company’s stock, valued at approximately $1,300,738.37. This represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,287 shares of company stock valued at $1,485,050. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays increased their target price on shares of Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Royal Bank of Canada increased their target price on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, October 18th. JPMorgan Chase & Co. reduced their target price on shares of Webster Financial from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Wedbush increased their target price on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Stephens set a $58.00 target price on shares of Webster Financial in a report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $61.58.

Webster Financial Trading Up 2.8 %

NYSE:WBS opened at $59.57 on Tuesday. The company has a 50-day moving average price of $58.11 and a 200-day moving average price of $51.22. Webster Financial Co. has a 12 month low of $39.33 and a 12 month high of $63.99. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The stock has a market cap of $10.21 billion, a price-to-earnings ratio of 13.51, a P/E/G ratio of 0.99 and a beta of 1.30.

Webster Financial (NYSE:WBS) last posted its earnings results on Friday, January 17th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.35 by $0.08. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. The firm had revenue of $661.00 million during the quarter, compared to analysts’ expectations of $687,532.71 billion. During the same period last year, the company posted $1.46 EPS. Equities analysts predict that Webster Financial Co. will post 5.24 EPS for the current year.

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.