YHB Investment Advisors Inc. reduced 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 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 reporting period.
A number of other hedge funds also recently modified their holdings of WBS. Quantbot Technologies LP bought a new stake in shares of Webster Financial during the first quarter worth approximately $1,720,000. Private Advisor Group LLC boosted its stake in shares of Webster Financial by 11.6% in the first quarter. Private Advisor Group LLC now owns 6,748 shares of the financial services provider’s stock worth $329,000 after buying an additional 700 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Webster Financial by 22.1% in the first quarter. Pacer Advisors Inc. now owns 11,004 shares of the financial services provider’s stock worth $551,000 after buying an additional 1,990 shares during the last quarter. Mason Street Advisors LLC boosted its stake in shares of Webster Financial by 1.5% in the first quarter. Mason Street Advisors LLC now owns 43,470 shares of the financial services provider’s stock worth $2,175,000 after buying an additional 660 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Webster Financial by 0.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 15,857 shares of the financial services provider’s stock worth $793,000 after buying an additional 49 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.
Webster Financial Co. (NYSE WBS) opened at 49.52 on Tuesday. The company’s 50-day moving average price is $50.04 and its 200-day moving average price is $51.67. Webster Financial Co. has a 52 week low of $31.29 and a 52 week high of $57.50. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 21.62 and a beta of 1.28.
Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Friday, April 21st. The financial services provider reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.05. Webster Financial had a return on equity of 8.82% and a net margin of 19.18%. The firm had revenue of $255.70 million during the quarter, compared to analyst estimates of $254.48 million. During the same quarter in the previous year, the business earned $0.49 EPS. Webster Financial’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts forecast that Webster Financial Co. will post $2.47 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 22nd. Investors of record on Monday, May 8th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.10%. The ex-dividend date was Thursday, May 4th. This is a positive change 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 brokerages have commented on WBS. Jefferies Group LLC set a $53.00 price target on Webster Financial and gave the stock a “hold” rating in a research report on Saturday, May 6th. Barclays PLC upped their price objective on Webster Financial from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 25th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Webster Financial in a research note on Friday, April 21st. Zacks Investment Research lowered Webster Financial from a “buy” rating to a “hold” rating in a research note on Friday, April 7th. Finally, Wells Fargo & Co lowered Webster Financial from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $48.94.
In other Webster Financial news, EVP Dawn C. Morris sold 900 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 4,749 shares in the company, valued at approximately $247,042.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Laurence C. Morse sold 4,971 shares of the business’s stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $51.88, for a total value of $257,895.48. Following the sale, the director now owns 28,210 shares of the company’s stock, valued at $1,463,534.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,214 shares of company stock valued at $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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