SG Americas Securities LLC lowered its position in shares of Webster Financial Corporation (NYSE:WBS) by 6.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,664 shares of the financial services provider’s stock after selling 1,777 shares during the period. SG Americas Securities LLC’s holdings in Webster Financial Corporation were worth $1,384,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of WBS. Envestnet Asset Management Inc. raised its position in shares of Webster Financial Corporation by 2.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 22,145 shares of the financial services provider’s stock worth $1,201,000 after buying an additional 471 shares during the period. Flinton Capital Management LLC purchased a new position in Webster Financial Corporation during the fourth quarter worth about $142,000. Credit Agricole S A raised its position in Webster Financial Corporation by 22.7% in the fourth quarter. Credit Agricole S A now owns 191,093 shares of the financial services provider’s stock worth $10,372,000 after buying an additional 35,353 shares during the last quarter. Elkfork Partners LLC bought a new position in Webster Financial Corporation during the fourth quarter worth $301,000. Finally, Cortina Asset Management LLC bought a new position in Webster Financial Corporation during the fourth quarter worth $15,215,000. 97.97% of the stock is currently owned by institutional investors.
Shares of Webster Financial Corporation (NYSE WBS) traded down 0.96% during trading on Friday, hitting $52.77. The stock had a trading volume of 329,491 shares. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of 23.04 and a beta of 1.27. Webster Financial Corporation has a 52 week low of $31.29 and a 52 week high of $57.50. The company’s 50 day moving average price is $50.78 and its 200 day moving average price is $52.18.
Webster Financial Corporation (NYSE:WBS) last issued its quarterly earnings results on Friday, April 21st. The financial services provider reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.05. The business had revenue of $255.70 million for the quarter, compared to analysts’ expectations of $254.48 million. Webster Financial Corporation had a net margin of 19.88% and a return on equity of 9.16%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.49 EPS. Analysts predict that Webster Financial Corporation will post $2.47 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 22nd. Stockholders of record on Monday, May 8th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Thursday, May 4th. This is a boost from Webster Financial Corporation’s previous quarterly dividend of $0.25. Webster Financial Corporation’s dividend payout ratio (DPR) is currently 45.42%.
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A number of brokerages have commented on WBS. Zacks Investment Research lowered Webster Financial Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, March 8th. BidaskClub upgraded Webster Financial Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Jefferies Group LLC set a $53.00 price target on Webster Financial Corporation and gave the stock a “hold” rating in a research report on Saturday, May 6th. Barclays PLC lifted their price objective on Webster Financial Corporation from $50.00 to $52.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 25th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $58.00 price objective on shares of Webster Financial Corporation in a report on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $48.94.
In related news, Director Laurence C. Morse sold 4,971 shares of Webster Financial Corporation stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $51.88, for a total transaction of $257,895.48. Following the transaction, the director now owns 28,210 shares in the company, valued at approximately $1,463,534.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Dawn C. Morris sold 900 shares of Webster Financial Corporation stock in a transaction on Monday, May 8th. The shares were sold at an average price of $52.02, for a total transaction of $46,818.00. Following the transaction, the executive vice president now owns 4,749 shares in the company, valued at approximately $247,042.98. The disclosure for this sale can be found here. Insiders have sold a total of 26,214 shares of company stock worth $1,364,548 in the last quarter. Corporate insiders own 2.20% of the company’s stock.
Webster Financial Corporation Company 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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