Penbrook Management LLC Invests $1.11 Million in Webster Financial Co. (WBS) Stock
Penbrook Management LLC bought a new stake in Webster Financial Co. (NYSE:WBS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,812 shares of the financial services provider’s stock, valued at approximately $1,113,000. Webster Financial accounts for about 1.0% of Penbrook Management LLC’s holdings, making the stock its 29th biggest position.
A number of other large investors also recently added to or reduced their stakes in WBS. Frontier Capital Management Co. LLC lifted its stake in Webster Financial by 103.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,411,061 shares of the financial services provider’s stock valued at $135,405,000 after buying an additional 1,223,617 shares during the period. Janus Henderson Group PLC acquired a new position in Webster Financial in the third quarter valued at about $54,672,000. Brown Advisory Inc. acquired a new position in Webster Financial in the third quarter valued at about $29,151,000. Wells Fargo & Company MN lifted its stake in Webster Financial by 27.8% in the third quarter. Wells Fargo & Company MN now owns 1,186,320 shares of the financial services provider’s stock valued at $62,342,000 after buying an additional 258,311 shares during the period. Finally, American Century Companies Inc. lifted its stake in Webster Financial by 13.1% in the fourth quarter. American Century Companies Inc. now owns 1,891,110 shares of the financial services provider’s stock valued at $106,205,000 after buying an additional 218,640 shares during the period. 94.60% of the stock is currently owned by hedge funds and other institutional investors.
Webster Financial stock opened at $56.69 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $5,249.41, a PE ratio of 22.09, a P/E/G ratio of 2.11 and a beta of 1.14. Webster Financial Co. has a fifty-two week low of $44.04 and a fifty-two week high of $60.32.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, February 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.83%. Webster Financial’s payout ratio is presently 39.10%.
Several equities research analysts have issued reports on the company. UBS assumed coverage on Webster Financial in a report on Wednesday. They issued a “neutral” rating for the company. Zacks Investment Research downgraded Webster Financial from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. Morgan Stanley increased their price target on Webster Financial from $54.00 to $56.00 and gave the stock an “underweight” rating in a report on Friday, January 26th. JPMorgan Chase & Co. increased their price target on Webster Financial from $66.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Finally, Boenning Scattergood restated a “hold” rating on shares of Webster Financial in a report on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $59.82.
In related news, EVP Daniel Bley sold 2,917 shares of the stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $58.27, for a total transaction of $169,973.59. Following the completion of the transaction, the executive vice president now directly owns 19,804 shares in the company, valued at $1,153,979.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark Pettie sold 3,291 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $56.34, for a total value of $185,414.94. Following the transaction, the director now owns 16,405 shares of the company’s stock, valued at $924,257.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,272 shares of company stock valued at $629,959. 2.20% of the stock is owned by corporate insiders.
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Webster Financial Profile
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.
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