Webster Financial Co. (NYSE:WBS) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lowered its stake in shares of Webster Financial Co. (NYSE:WBS) by 0.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 681,898 shares of the financial services provider’s stock after selling 2,490 shares during the quarter. Fisher Asset Management LLC owned approximately 0.40% of Webster Financial worth $31,783,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in Webster Financial by 28.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock worth $240,687,000 after acquiring an additional 1,206,575 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Webster Financial by 64.9% during the second quarter. Point72 Asset Management L.P. now owns 1,604,198 shares of the financial services provider’s stock worth $69,927,000 after purchasing an additional 631,080 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Webster Financial in the 3rd quarter valued at about $22,146,000. Bank of Montreal Can boosted its position in shares of Webster Financial by 1,482.9% in the 2nd quarter. Bank of Montreal Can now owns 339,246 shares of the financial services provider’s stock valued at $14,801,000 after purchasing an additional 317,814 shares during the period. Finally, American Century Companies Inc. grew its stake in Webster Financial by 12.9% during the 2nd quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock worth $115,096,000 after buying an additional 301,935 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Performance

Shares of WBS stock opened at $62.02 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The stock has a 50 day simple moving average of $51.76 and a 200-day simple moving average of $47.16. The company has a market cap of $10.63 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 0.91 and a beta of 1.27. Webster Financial Co. has a 12-month low of $39.33 and a 12-month high of $63.99.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The business had revenue of $647.62 million during the quarter, compared to analysts’ expectations of $677.72 million. During the same quarter in the previous year, the company posted $1.55 EPS. On average, equities analysts forecast that Webster Financial Co. will post 5.24 EPS for the current year.

Webster Financial Announces Dividend

The business also recently announced 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 was Friday, November 1st. This represents a $1.60 annualized dividend and a yield of 2.58%. Webster Financial’s payout ratio is currently 36.28%.

Insider Activity

In other Webster Financial news, Director Lauren States sold 1,650 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $60.60, for a total transaction of $99,990.00. Following the completion of the transaction, the director now directly owns 15,023 shares in the company, valued at approximately $910,393.80. This trade represents a 9.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark Pettie sold 4,500 shares of Webster Financial stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total transaction of $230,130.00. Following the transaction, the director now owns 32,780 shares of the company’s stock, valued at approximately $1,676,369.20. The trade was a 12.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 36,750 shares of company stock worth $2,074,367. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WBS. Wells Fargo & Company boosted their price objective on Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Barclays increased their price target on shares of Webster Financial from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Wedbush lifted their price objective on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Royal Bank of Canada increased their target price on shares of Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, Morgan Stanley dropped their price target on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.85.

Webster Financial Company 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.