Webster Financial Co. (NYSE:WBS) Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC lowered its position in shares of Webster Financial Co. (NYSE:WBS) by 10.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 136,479 shares of the financial services provider’s stock after selling 16,691 shares during the quarter. Rafferty Asset Management LLC’s holdings in Webster Financial were worth $7,433,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JTC Employer Solutions Trustee Ltd acquired a new stake in Webster Financial during the third quarter worth approximately $27,000. NN Investment Partners Holdings N.V. acquired a new stake in Webster Financial during the third quarter worth approximately $38,000. Harvest Fund Management Co. Ltd boosted its position in Webster Financial by 108.6% during the second quarter. Harvest Fund Management Co. Ltd now owns 1,095 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 570 shares during the last quarter. Massmutual Trust Co. FSB ADV acquired a new stake in Webster Financial during the second quarter worth approximately $97,000. Finally, Dark Forest Capital Management LP acquired a new position in shares of Webster Financial in the 2nd quarter valued at $105,000. Hedge funds and other institutional investors own 95.07% of the company’s stock.

Shares of WBS stock opened at $64.17 on Friday. Webster Financial Co. has a 52 week low of $45.60 and a 52 week high of $65.00. The company has a market cap of $5.81 billion, a PE ratio of 16.67 and a beta of 1.42. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21. The company’s fifty day simple moving average is $57.08 and its 200-day simple moving average is $53.56.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Wednesday, October 20th. The financial services provider reported $1.08 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.08. The company had revenue of $313.50 million during the quarter, compared to analyst estimates of $296.90 million. Webster Financial had a net margin of 28.56% and a return on equity of 13.22%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the business earned $0.75 EPS. Equities research analysts expect that Webster Financial Co. will post 4.64 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 23rd. Shareholders of record on Tuesday, November 9th were given a dividend of $0.40 per share. The ex-dividend date was Monday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.49%. Webster Financial’s dividend payout ratio (DPR) is 41.56%.

A number of equities analysts have weighed in on WBS shares. Royal Bank of Canada lifted their price target on shares of Webster Financial from $63.00 to $68.00 and gave the company an “outperform” rating in a report on Friday, October 22nd. Raymond James lifted their price target on shares of Webster Financial from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, October 22nd. Finally, Wells Fargo & Company decreased their price target on shares of Webster Financial from $60.00 to $57.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 4th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $60.75.

About Webster Financial

Webster Financial Corp., is holding company, which engages in the provision of financial services to individuals, families, and businesses. It operates through the following business segments: Commercial Banking, HSA Bank, and Community Banking. The Commercial Banking segment includes commercial banking and private banking.

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Institutional Ownership by Quarter for Webster Financial (NYSE:WBS)

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