Systematic Financial Management LP reduced its stake in Webster Financial Corporation (NYSE:WBS) by 39.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 214,507 shares of the financial services provider’s stock after selling 141,945 shares during the period. Systematic Financial Management LP’s holdings in Webster Financial Corporation were worth $11,643,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Capital Research Global Investors acquired a new stake in shares of Webster Financial Corporation during the third quarter valued at about $154,929,000. Lord Abbett & CO. LLC increased its stake in shares of Webster Financial Corporation by 6,585.6% in the second quarter. Lord Abbett & CO. LLC now owns 3,366,404 shares of the financial services provider’s stock valued at $114,289,000 after buying an additional 3,316,051 shares in the last quarter. Frontier Capital Management Co. LLC increased its stake in shares of Webster Financial Corporation by 102.6% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,434,241 shares of the financial services provider’s stock valued at $77,851,000 after buying an additional 726,269 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Webster Financial Corporation during the fourth quarter valued at about $29,665,000. Finally, Mesirow Financial Investment Management Equity Management acquired a new stake in shares of Webster Financial Corporation during the second quarter valued at about $16,208,000. 96.12% of the stock is owned by hedge funds and other institutional investors.
Webster Financial Corporation (NYSE:WBS) traded down 0.171% during midday trading on Friday, hitting $55.535. The stock had a trading volume of 200,342 shares. The stock has a 50-day moving average of $53.40 and a 200-day moving average of $44.99. The firm has a market cap of $5.10 billion, a P/E ratio of 25.711 and a beta of 1.28. Webster Financial Corporation has a 52 week low of $31.29 and a 52 week high of $55.80.
Webster Financial Corporation (NYSE:WBS) last released its earnings results on Thursday, January 19th. The financial services provider reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.05. The company earned $255.90 million during the quarter, compared to analysts’ expectations of $183.81 million. Webster Financial Corporation had a return on equity of 8.82% and a net margin of 19.18%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the firm earned $0.55 EPS. Analysts forecast that Webster Financial Corporation will post $2.39 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 28th. Investors of record on Tuesday, February 14th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, February 10th. This is a boost from Webster Financial Corporation’s previous quarterly dividend of $0.25. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.80%. Webster Financial Corporation’s payout ratio is 45.87%.
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WBS has been the subject of several research analyst reports. Wells Fargo & Company downgraded Webster Financial Corporation from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 31st. Zacks Investment Research raised Webster Financial Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, October 27th. Deutsche Bank AG downgraded Webster Financial Corporation from a “buy” rating to a “hold” rating and set a $43.00 price objective for the company. in a research note on Tuesday, November 8th. Piper Jaffray Companies downgraded Webster Financial Corporation from a “neutral” rating to an “underweight” rating and set a $37.50 price objective for the company. in a research note on Wednesday, November 16th. Finally, FBR & Co increased their price objective on Webster Financial Corporation from $36.00 to $38.00 and gave the stock a “mkt perform” rating in a research note on Monday, October 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $42.69.
In related news, insider Gregory Madar sold 640 shares of Webster Financial Corporation stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $52.56, for a total transaction of $33,638.40. Following the completion of the sale, the insider now directly owns 10,000 shares of the company’s stock, valued at $525,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Joel S. Becker sold 4,231 shares of Webster Financial Corporation stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $52.97, for a total value of $224,116.07. Following the sale, the director now directly owns 48,977 shares of the company’s stock, valued at $2,594,311.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 217,823 shares of company stock valued at $11,750,021. 2.59% of the stock is owned by insiders.
About Webster Financial Corporation
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions.
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