Circle Wealth Management LLC Cuts Stake in Webster Financial Co. (NYSE:WBS)

Circle Wealth Management LLC reduced its position in shares of Webster Financial Co. (NYSE:WBS) by 23.2% during the 4th quarter, HoldingsChannel reports. The fund owned 9,569 shares of the financial services provider’s stock after selling 2,894 shares during the period. Circle Wealth Management LLC’s holdings in Webster Financial were worth $528,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Barclays PLC increased its stake in Webster Financial by 36.4% during the 3rd quarter. Barclays PLC now owns 297,834 shares of the financial services provider’s stock worth $13,883,000 after buying an additional 79,556 shares during the period. GAMMA Investing LLC boosted its stake in Webster Financial by 14.8% during the 4th quarter. GAMMA Investing LLC now owns 2,045 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 264 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Webster Financial by 3.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 9,684 shares of the financial services provider’s stock valued at $535,000 after acquiring an additional 279 shares during the last quarter. Brookstone Capital Management purchased a new position in Webster Financial in the 4th quarter valued at $298,000. Finally, Wedmont Private Capital raised its holdings in Webster Financial by 3.2% during the fourth quarter. Wedmont Private Capital now owns 7,628 shares of the financial services provider’s stock worth $409,000 after purchasing an additional 237 shares in the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Webster Financial Trading Up 2.9 %

Shares of WBS stock opened at $50.13 on Friday. The company’s fifty day simple moving average is $48.14 and its two-hundred day simple moving average is $54.29. The stock has a market capitalization of $8.44 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 1.02 and a beta of 0.98. Webster Financial Co. has a 1 year low of $39.34 and a 1 year high of $63.99. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.08). The company had revenue of $704.80 million during the quarter, compared to the consensus estimate of $708.46 million. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.35 earnings per share. As a group, analysts anticipate that Webster Financial Co. will post 5.88 earnings per share for the current year.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Monday, May 12th. Webster Financial’s dividend payout ratio is currently 36.04%.

Webster Financial declared that its board has initiated a share buyback program on Thursday, May 1st that authorizes the company to buyback $700.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 8.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

WBS has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their target price on shares of Webster Financial from $75.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a research note on Saturday, January 11th. Royal Bank of Canada set a $60.00 target price on shares of Webster Financial and gave the stock an “outperform” rating in a research report on Friday, April 25th. Keefe, Bruyette & Woods decreased their price target on Webster Financial from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Finally, Morgan Stanley lowered their target price on Webster Financial from $75.00 to $66.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.73.

Insider Transactions at Webster Financial

In related news, insider Daniel Bley sold 1,200 shares of Webster Financial stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $49.97, for a total value of $59,964.00. Following the sale, the insider now directly owns 20,317 shares in the company, valued at approximately $1,015,240.49. The trade was a 5.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of the company’s stock in a transaction 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 owns 210,051 shares of the company’s stock, valued at approximately $12,063,228.93. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,217 shares of company stock worth $1,386,244. Insiders own 0.54% of the company’s stock.

Webster Financial 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.