SG Americas Securities LLC reduced its position in Webster Financial Co. (NYSE:WBS) by 6.0% during the first quarter, according to its most recent disclosure with the SEC. The fund 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 were worth $1,384,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of WBS. Flinton Capital Management LLC purchased a new position in shares of Webster Financial during the fourth quarter worth about $142,000. Patriot Financial Group Insurance Agency LLC bought a new stake in Webster Financial during the fourth quarter worth approximately $141,000. Meadow Creek Investment Management LLC raised its stake in Webster Financial by 20.9% in the first quarter. Meadow Creek Investment Management LLC now owns 4,334 shares of the financial services provider’s stock worth $217,000 after buying an additional 748 shares during the period. US Bancorp DE raised its stake in Webster Financial by 8.0% in the first quarter. US Bancorp DE now owns 4,551 shares of the financial services provider’s stock worth $229,000 after buying an additional 339 shares during the period. Finally, Barings LLC bought a new stake in Webster Financial during the fourth quarter worth approximately $266,000. 96.12% of the stock is owned by institutional investors and hedge funds.
Shares of Webster Financial Co. (NYSE:WBS) traded up 3.34% during midday trading on Friday, hitting $53.52. The company had a trading volume of 90,712 shares. The company has a market capitalization of $4.93 billion, a P/E ratio of 23.37 and a beta of 1.28. The firm’s 50 day moving average is $50.40 and its 200 day moving average is $52.02. Webster Financial Co. has a 52 week low of $31.29 and a 52 week high of $57.50.
Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Friday, April 21st. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. Webster Financial had a return on equity of 9.50% and a net margin of 23.26%. The company had revenue of $255.70 million for the quarter, compared to the consensus estimate of $254.48 million. During the same quarter in the previous year, the business earned $0.49 EPS. Webster Financial’s revenue was up 6.5% compared to the same quarter last year. Equities research analysts anticipate that Webster Financial Co. will post $2.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 22nd. Investors of record on Monday, May 8th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Thursday, May 4th. This is an increase from Webster Financial’s previous quarterly dividend of $0.25. Webster Financial’s payout ratio is currently 45.87%.
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A number of equities research analysts have commented on WBS shares. Zacks Investment Research lowered Webster Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, March 8th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $58.00 price target on shares of Webster Financial in a research report on Friday, April 21st. Barclays PLC upped their price target on Webster Financial from $50.00 to $52.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 25th. Finally, Jefferies Group LLC set a $53.00 price target on Webster Financial and gave the company a “hold” rating in a research report on Saturday, May 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $48.94.
In other Webster Financial news, EVP Dawn C. Morris sold 900 shares of Webster Financial stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $52.02, for a total transaction of $46,818.00. Following the sale, the executive vice president now directly owns 4,749 shares of the company’s stock, valued at approximately $247,042.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Laurence C. Morse sold 4,971 shares of Webster Financial stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $51.88, for a total value of $257,895.48. Following the sale, the director now directly owns 28,210 shares in the company, valued at $1,463,534.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,214 shares of company stock worth $1,364,548. 2.59% of the stock is owned by company insiders.
Webster Financial 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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