Legacy Wealth Management LLC MS Has $278,000 Stock Position in Webster Financial Co. (NYSE:WBS)

Legacy Wealth Management LLC MS decreased its stake in shares of Webster Financial Co. (NYSE:WBS) by 69.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,975 shares of the financial services provider’s stock after selling 13,630 shares during the period. Legacy Wealth Management LLC MS’s holdings in Webster Financial were worth $278,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in Webster Financial during the 3rd quarter valued at about $27,000. UMB Bank n.a. raised its position in shares of Webster Financial by 340.7% in the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 460 shares during the period. Hantz Financial Services Inc. acquired a new stake in shares of Webster Financial in the 2nd quarter valued at approximately $32,000. Brooklyn Investment Group acquired a new stake in shares of Webster Financial in the 3rd quarter valued at approximately $53,000. Finally, NBC Securities Inc. raised its position in shares of Webster Financial by 117.9% in the 3rd quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 686 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Javier L. Evans sold 10,137 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $57.41, for a total value of $581,965.17. Following the completion of the sale, the insider now owns 22,657 shares of the company’s stock, valued at approximately $1,300,738.37. This represents a 30.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel Bley sold 3,463 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $52.10, for a total value of $180,422.30. Following the sale, the insider now directly owns 19,529 shares of the company’s stock, valued at $1,017,460.90. This represents a 15.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,250 shares of company stock valued at $2,105,322. 0.88% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

WBS has been the topic of a number of analyst reports. Stephens set a $58.00 price target on shares of Webster Financial in a research report on Thursday, October 17th. Barclays increased their price target on shares of Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Wedbush increased their price target on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company increased their target price on Webster Financial from $60.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.08.

Webster Financial Stock Down 0.8 %

Shares of WBS traded down $0.49 during mid-day trading on Friday, hitting $58.58. 76,457 shares of the company’s stock were exchanged, compared to its average volume of 1,232,343. The company has a market cap of $10.04 billion, a PE ratio of 13.39, a P/E/G ratio of 0.88 and a beta of 1.29. Webster Financial Co. has a 52 week low of $39.33 and a 52 week high of $63.99. The company has a 50-day simple moving average of $55.46 and a 200 day simple moving average of $48.47. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.01). The business had revenue of $647.62 million for the quarter, compared to the consensus estimate of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same period in the prior year, the business earned $1.55 earnings per share. On average, research analysts forecast that Webster Financial Co. will post 5.24 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Friday, November 1st. Webster Financial’s payout ratio is presently 36.28%.

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.