Oak Thistle LLC Trims Position in Webster Financial Co. (NYSE:WBS)

Oak Thistle LLC trimmed its stake in Webster Financial Co. (NYSE:WBSFree Report) by 23.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,579 shares of the financial services provider’s stock after selling 2,284 shares during the period. Oak Thistle LLC’s holdings in Webster Financial were worth $419,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in shares of Webster Financial in the third quarter valued at approximately $27,000. UMB Bank n.a. raised its position in Webster Financial by 340.7% during the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 460 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Webster Financial in the 3rd quarter worth $53,000. NBC Securities Inc. grew its position in shares of Webster Financial by 117.9% during the 3rd quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock worth $59,000 after buying an additional 686 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of Webster Financial by 45.9% during the third quarter. First Horizon Advisors Inc. now owns 1,398 shares of the financial services provider’s stock valued at $65,000 after buying an additional 440 shares during the period. 85.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on WBS shares. Wedbush increased their target price on shares of Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Barclays lifted their price objective on shares of Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Morgan Stanley lowered their target price on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, September 30th. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a report on Saturday, January 11th. Finally, JPMorgan Chase & Co. decreased their price objective on Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.58.

Check Out Our Latest Research Report on WBS

Insider Buying and Selling at Webster Financial

In other Webster Financial news, CAO Albert Jen-Wen Wang sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $52.43, for a total value of $209,720.00. Following the sale, the chief accounting officer now owns 14,273 shares in the company, valued at approximately $748,333.39. This represents a 21.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark Pettie sold 4,500 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $51.14, for a total transaction of $230,130.00. Following the completion of the transaction, the director now owns 32,780 shares of the company’s stock, valued at approximately $1,676,369.20. This represents a 12.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,250 shares of company stock worth $2,105,322. 0.72% of the stock is currently owned by insiders.

Webster Financial Stock Performance

Shares of Webster Financial stock opened at $57.91 on Friday. The firm has a market capitalization of $9.93 billion, a P/E ratio of 13.13, a PEG ratio of 0.99 and a beta of 1.30. Webster Financial Co. has a 52 week low of $39.33 and a 52 week high of $63.99. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average price of $58.07 and a 200 day moving average price of $50.85.

Webster Financial (NYSE:WBSGet Free Report) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The company had revenue of $647.62 million during the quarter, compared to analysts’ expectations of $677.72 million. During the same period in the prior year, the business posted $1.55 EPS. Sell-side analysts expect that Webster Financial Co. will post 5.24 EPS for the current year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a yield of 2.76%. Webster Financial’s dividend payout ratio is currently 36.28%.

Webster Financial Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding WBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Webster Financial Co. (NYSE:WBSFree Report).

Institutional Ownership by Quarter for Webster Financial (NYSE:WBS)

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