Shelton Capital Management Has $357,000 Stake in Webster Financial Co. (NYSE:WBS)

Shelton Capital Management reduced its stake in Webster Financial Co. (NYSE:WBS) by 4.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,470 shares of the financial services provider’s stock after selling 310 shares during the period. Shelton Capital Management’s holdings in Webster Financial were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Webster Financial in the 4th quarter valued at $120,497,000. TimesSquare Capital Management LLC grew its position in Webster Financial by 759.8% during the 4th quarter. TimesSquare Capital Management LLC now owns 823,280 shares of the financial services provider’s stock worth $45,462,000 after acquiring an additional 727,530 shares during the last quarter. Wealthfront Advisers LLC acquired a new position in Webster Financial in the 4th quarter worth about $27,163,000. ExodusPoint Capital Management LP bought a new position in Webster Financial in the fourth quarter valued at about $25,464,000. Finally, Boston Partners raised its position in Webster Financial by 1,491.7% in the fourth quarter. Boston Partners now owns 485,776 shares of the financial services provider’s stock valued at $26,838,000 after purchasing an additional 455,257 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WBS. UBS Group began coverage on Webster Financial in a research note on Tuesday, December 17th. They issued a “buy” rating and a $76.00 price objective for the company. Morgan Stanley decreased their price target on shares of Webster Financial from $75.00 to $66.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. JPMorgan Chase & Co. dropped their price target on shares of Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Wells Fargo & Company reduced their price objective on shares of Webster Financial from $75.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Raymond James lowered their target price on Webster Financial from $65.00 to $58.00 and set an “outperform” rating for the company in a research report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.92.

Webster Financial Stock Performance

WBS stock opened at $41.98 on Friday. Webster Financial Co. has a 1-year low of $39.34 and a 1-year high of $63.99. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34. The stock has a 50-day moving average price of $52.69 and a 200-day moving average price of $54.41. The firm has a market cap of $7.19 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 1.02 and a beta of 1.05.

Webster Financial (NYSE:WBS) last issued its earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.08. The business had revenue of $661.00 million during the quarter, compared to the consensus estimate 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 previous year, the company posted $1.46 earnings per share. As a group, equities research analysts expect that Webster Financial Co. will post 5.88 earnings per share for the current year.

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were given a dividend of $0.40 per share. The ex-dividend date was Monday, February 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.81%. Webster Financial’s payout ratio is presently 36.61%.

Insider Buying and Selling

In related news, Director Laurence C. Morse sold 13,217 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total transaction of $780,728.19. Following the transaction, the director now directly owns 18,808 shares of the company’s stock, valued at approximately $1,110,988.56. This represents a 41.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.43, for a total value of $459,440.00. Following the completion of the sale, the chief executive officer now directly owns 210,051 shares of the company’s stock, valued at $12,063,228.93. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

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.