YHB Investment Advisors Inc. cut its position in Webster Financial Co. (NYSE:WBS) by 4.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,688 shares of the financial services provider’s stock after selling 212 shares during the period. YHB Investment Advisors Inc.’s holdings in Webster Financial were worth $238,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in WBS. Flinton Capital Management LLC purchased a new stake in Webster Financial during the fourth quarter worth approximately $142,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in Webster Financial during the fourth quarter worth $141,000. Riverhead Capital Management LLC increased its stake in Webster Financial by 83.1% in the third quarter. Riverhead Capital Management LLC now owns 2,900 shares of the financial services provider’s stock worth $110,000 after buying an additional 1,316 shares in the last quarter. Meadow Creek Investment Management LLC increased 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 in the last quarter. Finally, US Bancorp DE boosted its position in shares of 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 last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.
Webster Financial Co. (NYSE WBS) traded up 4.10% during mid-day trading on Thursday, hitting $51.79. The stock had a trading volume of 780,804 shares. Webster Financial Co. has a one year low of $31.29 and a one year high of $57.50. The firm’s 50-day moving average price is $50.24 and its 200 day moving average price is $52.02. The company has a market cap of $4.78 billion, a PE ratio of 22.62 and a beta of 1.28.
Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Friday, April 21st. The financial services provider reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.05. The business had revenue of $255.70 million during the quarter, compared to the consensus estimate of $254.48 million. Webster Financial had a return on equity of 9.50% and a net margin of 23.26%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 earnings per share. On average, equities research analysts anticipate that Webster Financial Co. will post $2.47 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, May 22nd. Shareholders of record on Monday, May 8th were given 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 45.87%.
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WBS has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Webster Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, March 8th. Jefferies Group LLC set a $53.00 price objective on shares of Webster Financial and gave the stock a “hold” rating in a research note on Saturday, May 6th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $58.00 price objective on shares of Webster Financial in a research note on Friday, April 21st. Finally, Barclays PLC increased their target price on shares of Webster Financial from $50.00 to $52.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $48.94.
In other Webster Financial news, Director Mark Pettie sold 3,987 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $50.53, for a total transaction of $201,463.11. Following the completion of the sale, the director now owns 18,471 shares of the company’s stock, valued at $933,339.63. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dawn C. Morris sold 900 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $52.02, for a total value 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 disclosure for this sale can be found here. In the last three months, insiders have sold 26,214 shares of company stock valued at $1,364,548. 2.59% of the stock is owned by company insiders.
About Webster Financial
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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