Atria Investments Inc Sells 2,276 Shares of Webster Financial Corporation $WBS

Atria Investments Inc decreased its stake in shares of Webster Financial Corporation (NYSE:WBS) by 9.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,227 shares of the financial services provider’s stock after selling 2,276 shares during the period. Atria Investments Inc’s holdings in Webster Financial were worth $1,214,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Webster Financial by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 7,108,082 shares of the financial services provider’s stock valued at $366,408,000 after purchasing an additional 487,264 shares in the last quarter. Nuveen LLC bought a new stake in Webster Financial in the 1st quarter valued at approximately $23,603,000. AQR Capital Management LLC boosted its position in Webster Financial by 229.9% during the 1st quarter. AQR Capital Management LLC now owns 487,804 shares of the financial services provider’s stock worth $24,732,000 after acquiring an additional 339,950 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Webster Financial by 29,356.4% during the 1st quarter. Jones Financial Companies Lllp now owns 217,388 shares of the financial services provider’s stock worth $11,206,000 after acquiring an additional 216,650 shares during the last quarter. Finally, Algebris UK Ltd grew its stake in shares of Webster Financial by 122.9% during the 1st quarter. Algebris UK Ltd now owns 372,647 shares of the financial services provider’s stock worth $17,784,000 after acquiring an additional 205,501 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

Insider Activity at Webster Financial

In other news, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $57.95, for a total value of $463,600.00. Following the transaction, the chief executive officer directly owned 239,872 shares of the company’s stock, valued at $13,900,582.40. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Elzbieta Cieslik sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $61.58, for a total transaction of $123,160.00. Following the sale, the chief accounting officer owned 14,894 shares of the company’s stock, valued at approximately $917,172.52. This represents a 11.84% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 11,807 shares of company stock worth $698,527. Company insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on WBS shares. Truist Financial cut their price objective on shares of Webster Financial from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Monday, October 20th. Barclays reissued an “overweight” rating and set a $78.00 price target on shares of Webster Financial in a research report on Wednesday, October 8th. Seaport Res Ptn downgraded shares of Webster Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. Cowen assumed coverage on Webster Financial in a research report on Wednesday, September 24th. They issued a “buy” rating on the stock. Finally, TD Cowen began coverage on Webster Financial in a report on Thursday, September 25th. They set a “buy” rating and a $78.00 target price on the stock. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Webster Financial currently has an average rating of “Moderate Buy” and a consensus price target of $69.69.

Webster Financial Stock Down 1.0%

Webster Financial stock opened at $56.67 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.85. The company’s 50-day moving average is $59.04 and its 200-day moving average is $56.20. The firm has a market capitalization of $9.42 billion, a PE ratio of 10.55, a P/E/G ratio of 0.50 and a beta of 1.13. Webster Financial Corporation has a fifty-two week low of $39.43 and a fifty-two week high of $63.99.

Webster Financial (NYSE:WBS) last issued its earnings results on Friday, October 17th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.02. The business had revenue of $732.60 million during the quarter, compared to the consensus estimate of $725.22 million. Webster Financial had a net margin of 21.32% and a return on equity of 11.07%. During the same period last year, the business posted $1.34 EPS. Sell-side analysts anticipate that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, November 10th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.8%. Webster Financial’s payout ratio is presently 29.80%.

About Webster Financial

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.