Webster Bank N. A. Has $486,000 Stake in Webster Financial Co. (NYSE:WBS)

Webster Bank N. A. cut its position in Webster Financial Co. (NYSE:WBS) by 84.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,807 shares of the financial services provider’s stock after selling 47,725 shares during the quarter. Webster Bank N. A.’s holdings in Webster Financial were worth $486,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp increased its stake in Webster Financial by 4.8% in the third quarter. State Street Corp now owns 7,320,930 shares of the financial services provider’s stock valued at $341,229,000 after acquiring an additional 333,606 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Webster Financial by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,969,928 shares of the financial services provider’s stock worth $138,465,000 after buying an additional 54,613 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Webster Financial by 11.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,874,644 shares of the financial services provider’s stock worth $87,377,000 after buying an additional 191,894 shares during the last quarter. Basswood Capital Management L.L.C. boosted its stake in Webster Financial by 5.6% in the third quarter. Basswood Capital Management L.L.C. now owns 1,777,413 shares of the financial services provider’s stock valued at $82,845,000 after buying an additional 93,929 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Webster Financial by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,468,942 shares of the financial services provider’s stock valued at $68,467,000 after acquiring an additional 34,373 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Stephens set a $58.00 target price on shares of Webster Financial in a report on Thursday, October 17th. Royal Bank of Canada upped their price target on shares of Webster Financial from $66.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. UBS Group assumed coverage on Webster Financial in a report on Tuesday, December 17th. They set a “buy” rating and a $76.00 price objective on the stock. 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. Finally, Barclays lifted their price target on Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $62.08.

Webster Financial Trading Up 0.5 %

NYSE:WBS opened at $58.90 on Monday. Webster Financial Co. has a 52 week low of $39.33 and a 52 week high of $63.99. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 0.84. The firm’s fifty day moving average is $58.06 and its 200-day moving average is $51.66. The firm has a market cap of $10.10 billion, a P/E ratio of 13.48, a P/E/G ratio of 1.06 and a beta of 1.30.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Friday, January 17th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.08. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. The business had revenue of $661.00 million for the quarter, compared to analysts’ expectations of $687,532.71 billion. During the same quarter in the prior year, the firm posted $1.46 earnings per share. Equities analysts expect that Webster Financial Co. will post 5.83 earnings per share for the current year.

Insider Activity at Webster Financial

In related news, insider Javier L. Evans sold 10,137 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $57.41, for a total transaction of $581,965.17. Following the transaction, the insider now directly owns 22,657 shares of the company’s stock, valued at $1,300,738.37. This represents a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren States sold 1,650 shares of Webster Financial stock in a transaction on 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 sale, the director now directly owns 15,023 shares of the company’s stock, valued at approximately $910,393.80. This trade represents a 9.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,287 shares of company stock worth $1,485,050 in the last 90 days. Corporate insiders own 0.88% of the company’s stock.

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.