Wasatch Advisors Inc. decreased its stake in Webster Financial Co. (NYSE:WBS) by 3.3% during the 4th quarter, Holdings Channel reports. The firm owned 1,209,873 shares of the financial services provider’s stock after selling 40,939 shares during the period. Wasatch Advisors Inc.’s holdings in Webster Financial were worth $67,946,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Seven Eight Capital LP bought a new stake in Webster Financial during the 2nd quarter valued at $141,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Webster Financial by 9.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,147 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 274 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Webster Financial during the 3rd quarter valued at $202,000. Advisor Group Inc. raised its stake in Webster Financial by 13.3% during the 2nd quarter. Advisor Group Inc. now owns 4,038 shares of the financial services provider’s stock valued at $211,000 after acquiring an additional 474 shares in the last quarter. Finally, Flinton Capital Management LLC raised its stake in Webster Financial by 42.1% during the 2nd quarter. Flinton Capital Management LLC now owns 4,480 shares of the financial services provider’s stock valued at $234,000 after acquiring an additional 1,328 shares in the last quarter. 86.77% of the stock is currently owned by institutional investors and hedge funds.
Webster Financial Co. (NYSE WBS) traded down $0.59 on Tuesday, hitting $58.99. The stock had a trading volume of 715,826 shares, compared to its average volume of 531,170. Webster Financial Co. has a 12 month low of $44.04 and a 12 month high of $59.86. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.69. The company has a market cap of $5,580.00, a P/E ratio of 23.22, a PEG ratio of 2.31 and a beta of 1.22.
Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.03. Webster Financial had a return on equity of 9.89% and a net margin of 21.09%. The company had revenue of $266.75 million for the quarter, compared to the consensus estimate of $269.03 million. During the same quarter in the previous year, the business earned $0.54 EPS. research analysts expect that Webster Financial Co. will post 2.6 earnings per share for the current fiscal year.
Several analysts have weighed in on WBS shares. Barclays set a $55.00 target price on Webster Financial and gave the company a “hold” rating in a research note on Friday, October 20th. Boenning Scattergood reaffirmed a “hold” rating on shares of Webster Financial in a research note on Friday, October 20th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $60.00 target price (up previously from $55.00) on shares of Webster Financial in a research note on Tuesday, January 9th. Zacks Investment Research raised Webster Financial from a “sell” rating to a “hold” rating in a research note on Monday, October 9th. Finally, ValuEngine downgraded Webster Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $58.67.
In other news, Chairman James Copenhaver Smith sold 8,943 shares of the business’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $55.93, for a total value of $500,181.99. Following the sale, the chairman now owns 316,103 shares of the company’s stock, valued at approximately $17,679,640.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen R. Osar sold 12,923 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $54.70, for a total value of $706,888.10. Following the completion of the sale, the director now directly owns 36,984 shares in the company, valued at approximately $2,023,024.80. The disclosure for this sale can be found here. Insiders sold a total of 36,107 shares of company stock worth $1,988,452 in the last three months. Company insiders own 2.20% of the company’s stock.
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Webster Financial 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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