Interval Partners LP Trims Stock Holdings in Webster Financial Co. (NYSE:WBS)

Interval Partners LP lessened its stake in Webster Financial Co. (NYSE:WBS) by 33.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 233,444 shares of the financial services provider’s stock after selling 114,987 shares during the period. Interval Partners LP’s holdings in Webster Financial were worth $11,852,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its holdings in shares of Webster Financial by 78.1% in the 4th quarter. Pacer Advisors Inc. now owns 25,858 shares of the financial services provider’s stock valued at $1,313,000 after buying an additional 11,338 shares during the period. Fifth Third Bancorp boosted its holdings in Webster Financial by 6.1% in the fourth quarter. Fifth Third Bancorp now owns 36,119 shares of the financial services provider’s stock valued at $1,833,000 after purchasing an additional 2,067 shares during the period. Oak Thistle LLC acquired a new stake in Webster Financial in the 4th quarter valued at about $611,000. Trust Point Inc. purchased a new position in shares of Webster Financial in the 4th quarter valued at about $219,000. Finally, Arizona State Retirement System grew its position in shares of Webster Financial by 1.6% during the fourth quarter. Arizona State Retirement System now owns 48,433 shares of the financial services provider’s stock worth $2,458,000 after buying an additional 760 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WBS. StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Citigroup cut their price objective on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Royal Bank of Canada dropped their target price on shares of Webster Financial from $54.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Jefferies Financial Group reduced their price target on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Finally, Barclays dropped their price objective on Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.73.

Insider Buying and Selling at Webster Financial

In other news, insider Jason A. Soto sold 1,650 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total value of $76,428.00. Following the completion of the sale, the insider now directly owns 20,539 shares of the company’s stock, valued at approximately $951,366.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Daniel Bley sold 2,280 shares of Webster Financial stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $44.80, for a total transaction of $102,144.00. Following the completion of the transaction, the insider now owns 28,693 shares of the company’s stock, valued at approximately $1,285,446.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jason A. Soto sold 1,650 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total transaction of $76,428.00. Following the completion of the sale, the insider now directly owns 20,539 shares in the company, valued at $951,366.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,930 shares of company stock valued at $808,242. 0.88% of the stock is owned by corporate insiders.

Webster Financial Stock Performance

Shares of NYSE:WBS traded up $1.06 during trading on Tuesday, reaching $49.35. The company had a trading volume of 1,307,123 shares, compared to its average volume of 1,277,455. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s fifty day moving average price is $44.03 and its 200 day moving average price is $46.40. Webster Financial Co. has a fifty-two week low of $36.36 and a fifty-two week high of $53.39. The firm has a market capitalization of $8.46 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 0.61 and a beta of 1.30.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.08). Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $671.91 million. During the same period in the prior year, the firm posted $1.50 earnings per share. As a group, equities research analysts predict that Webster Financial Co. will post 5.36 EPS for the current year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Monday, July 29th will be given a $0.40 dividend. The ex-dividend date is Monday, July 29th. This represents a $1.60 dividend on an annualized basis and a yield of 3.24%. Webster Financial’s payout ratio is currently 32.79%.

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.