Clinton Group Inc. boosted its stake in Webster Financial Corporation (NYSE:WBS) by 133.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,482 shares of the financial services provider’s stock after buying an additional 9,419 shares during the quarter. Clinton Group Inc.’s holdings in Webster Financial Corporation were worth $861,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in WBS. World Asset Management Inc boosted its stake in Webster Financial Corporation by 2.2% in the second quarter. World Asset Management Inc now owns 5,827 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 126 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Webster Financial Corporation by 2.5% in the second quarter. Teacher Retirement System of Texas now owns 7,391 shares of the financial services provider’s stock worth $386,000 after purchasing an additional 181 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Webster Financial Corporation by 4.0% in the second quarter. PNC Financial Services Group Inc. now owns 5,048 shares of the financial services provider’s stock worth $263,000 after purchasing an additional 195 shares in the last quarter. Bank of Montreal Can boosted its stake in Webster Financial Corporation by 3.4% in the second quarter. Bank of Montreal Can now owns 6,047 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 200 shares in the last quarter. Finally, Hartford Financial Management Inc. boosted its stake in Webster Financial Corporation by 0.6% in the second quarter. Hartford Financial Management Inc. now owns 38,340 shares of the financial services provider’s stock worth $2,002,000 after purchasing an additional 220 shares in the last quarter. 93.67% of the stock is currently owned by institutional investors and hedge funds.

Shares of Webster Financial Corporation (WBS) opened at 53.02 on Friday. The stock’s 50 day moving average price is $48.56 and its 200-day moving average price is $50.30. Webster Financial Corporation has a 52-week low of $36.96 and a 52-week high of $57.50. The company has a market cap of $4.88 billion, a P/E ratio of 22.09 and a beta of 1.26.

Webster Financial Corporation (NYSE:WBS) last announced its earnings results on Friday, July 21st. The financial services provider reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.04. The firm had revenue of $262.50 million for the quarter, compared to the consensus estimate of $260.91 million. Webster Financial Corporation had a return on equity of 9.49% and a net margin of 20.43%. During the same period in the previous year, the business earned $0.53 EPS. Equities analysts expect that Webster Financial Corporation will post $2.55 EPS for the current year.

A number of research firms have commented on WBS. ValuEngine lowered Webster Financial Corporation from a “buy” rating to a “hold” rating in a research note on Monday. BidaskClub raised Webster Financial Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Zacks Investment Research raised Webster Financial Corporation from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Thursday, August 3rd. Jefferies Group LLC reissued a “hold” rating and issued a $53.00 price objective on shares of Webster Financial Corporation in a research note on Friday, July 14th. Finally, Piper Jaffray Companies restated a “sell” rating and set a $46.00 target price on shares of Webster Financial Corporation in a research report on Friday, July 14th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Webster Financial Corporation currently has a consensus rating of “Hold” and a consensus price target of $53.00.

In other news, EVP Daniel Bley sold 8,000 shares of Webster Financial Corporation stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $51.20, for a total value of $409,600.00. Following the completion of the transaction, the executive vice president now directly owns 25,657 shares of the company’s stock, valued at approximately $1,313,638.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Nitin J. Mhatre sold 31,940 shares of Webster Financial Corporation stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $51.34, for a total value of $1,639,799.60. Following the completion of the transaction, the executive vice president now directly owns 23,120 shares of the company’s stock, valued at $1,186,980.80. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.

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About Webster Financial Corporation

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

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