Davis Asset Management L.P. Has $101.52 Million Stake in Webster Financial Co. (NYSE:WBS)

Davis Asset Management L.P. increased its stake in Webster Financial Co. (NYSE:WBS) by 14.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,000,000 shares of the financial services provider’s stock after buying an additional 250,000 shares during the period. Webster Financial comprises about 4.1% of Davis Asset Management L.P.’s investment portfolio, making the stock its 8th largest position. Davis Asset Management L.P. owned approximately 1.16% of Webster Financial worth $101,520,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its holdings in Webster Financial by 29.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 255 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Webster Financial by 1.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 19,924 shares of the financial services provider’s stock valued at $785,000 after acquiring an additional 263 shares during the period. Spire Wealth Management boosted its holdings in shares of Webster Financial by 79.1% during the fourth quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 268 shares during the period. Mariner LLC boosted its holdings in shares of Webster Financial by 2.4% during the third quarter. Mariner LLC now owns 13,812 shares of the financial services provider’s stock valued at $557,000 after acquiring an additional 320 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Webster Financial by 2.5% during the third quarter. Teacher Retirement System of Texas now owns 13,537 shares of the financial services provider’s stock valued at $546,000 after acquiring an additional 332 shares during the period. Institutional investors own 85.58% of the company’s stock.

Webster Financial Price Performance

Webster Financial stock traded up $0.42 during midday trading on Thursday, hitting $44.80. The company’s stock had a trading volume of 4,468,024 shares, compared to its average volume of 1,221,590. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.54. The stock’s 50-day moving average price is $47.67 and its 200-day moving average price is $46.67. Webster Financial Co. has a 12 month low of $31.03 and a 12 month high of $53.39. The company has a market capitalization of $7.69 billion, a PE ratio of 9.17, a price-to-earnings-growth ratio of 0.39 and a beta of 1.35.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The business had revenue of $667.10 million during the quarter, compared to the consensus estimate of $680.72 million. During the same quarter last year, the firm posted $1.49 earnings per share. Webster Financial’s revenue was up .2% compared to the same quarter last year. Analysts anticipate that Webster Financial Co. will post 5.62 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.60 annualized dividend and a yield of 3.57%. Webster Financial’s payout ratio is presently 32.79%.

Insiders Place Their Bets

In other Webster Financial news, insider Daniel Bley sold 2,280 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $44.80, for a total transaction of $102,144.00. Following the sale, the insider now owns 28,693 shares in the company, valued at approximately $1,285,446.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on WBS shares. Keefe, Bruyette & Woods reduced their price target on shares of Webster Financial from $64.00 to $58.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Bank of America started coverage on shares of Webster Financial in a report on Thursday, January 11th. They set a “buy” rating and a $60.00 price target for the company. Royal Bank of Canada reduced their price objective on shares of Webster Financial from $57.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Citigroup reduced their price objective on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Finally, StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $56.23.

Webster Financial Company 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.