Vanguard Group Inc. Sells 61,947 Shares of Webster Financial Co. (NYSE:WBS)

Vanguard Group Inc. lessened its holdings in Webster Financial Co. (NYSE:WBS) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,015,310 shares of the financial services provider’s stock after selling 61,947 shares during the quarter. Vanguard Group Inc. owned approximately 10.51% of Webster Financial worth $994,805,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ acquired a new position in Webster Financial in the fourth quarter valued at approximately $26,000. R Squared Ltd bought a new stake in shares of Webster Financial during the 4th quarter valued at $43,000. UMB Bank n.a. lifted its stake in shares of Webster Financial by 88.1% in the 4th quarter. UMB Bank n.a. now owns 1,119 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 524 shares during the period. Brooklyn Investment Group acquired a new position in shares of Webster Financial in the 3rd quarter valued at $53,000. Finally, Grove Bank & Trust bought a new position in shares of Webster Financial in the 4th quarter worth $105,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on WBS. StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a research note on Saturday, January 11th. Wells Fargo & Company upgraded shares of Webster Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $70.00 to $75.00 in a research report on Monday, January 6th. Morgan Stanley reduced their price objective on shares of Webster Financial from $75.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. UBS Group assumed coverage on shares of Webster Financial in a research note on Tuesday, December 17th. They issued a “buy” rating and a $76.00 target price for the company. Finally, Barclays lifted their price target on shares of Webster Financial from $63.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.36.

Insider Activity

In related news, Director Laurence C. Morse sold 13,217 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $59.07, for a total value of $780,728.19. Following the completion of the transaction, the director now owns 18,808 shares of the company’s stock, valued at approximately $1,110,988.56. This trade represents a 41.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.43, for a total transaction of $459,440.00. Following the sale, the chief executive officer now directly owns 210,051 shares in the company, valued at $12,063,228.93. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.88% of the stock is owned by corporate insiders.

Webster Financial Price Performance

Shares of NYSE WBS opened at $51.04 on Friday. The company has a fifty day moving average price of $55.76 and a 200 day moving average price of $54.44. The firm has a market cap of $8.75 billion, a PE ratio of 11.68, a PEG ratio of 1.02 and a beta of 1.28. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34. Webster Financial Co. has a 1-year low of $39.34 and a 1-year high of $63.99.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Friday, January 17th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.08. The company had revenue of $661.00 million during the quarter, compared to analysts’ expectations of $687.53 million. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. During the same period in the prior year, the firm earned $1.46 earnings per share. Research analysts predict that Webster Financial Co. will post 5.88 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were paid a dividend of $0.40 per share. The ex-dividend date was Monday, February 10th. This represents a $1.60 annualized dividend and a dividend yield of 3.13%. Webster Financial’s dividend payout ratio is currently 36.61%.

Webster Financial Company Profile

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.