Brandywine Global Investment Management LLC Sells 6,721 Shares of Webster Financial Co. (NYSE:WBS)

Brandywine Global Investment Management LLC decreased its stake in shares of Webster Financial Co. (NYSE:WBS) by 6.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,962 shares of the financial services provider’s stock after selling 6,721 shares during the period. Brandywine Global Investment Management LLC owned about 0.05% of Webster Financial worth $5,023,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WBS. State Street Corp lifted its holdings in shares of Webster Financial by 4.8% during the 3rd quarter. State Street Corp now owns 7,320,930 shares of the financial services provider’s stock valued at $341,229,000 after buying an additional 333,606 shares during the period. Geode Capital Management LLC lifted its holdings in Webster Financial by 1.9% in the third quarter. Geode Capital Management LLC now owns 2,969,928 shares of the financial services provider’s stock valued at $138,465,000 after acquiring an additional 54,613 shares during the period. Norges Bank purchased a new position in Webster Financial in the fourth quarter worth about $120,497,000. Sei Investments Co. grew its stake in shares of Webster Financial by 7.0% during the 4th quarter. Sei Investments Co. now owns 1,975,992 shares of the financial services provider’s stock valued at $109,114,000 after purchasing an additional 129,675 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Webster Financial by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,507,655 shares of the financial services provider’s stock valued at $83,253,000 after purchasing an additional 38,713 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Down 1.7 %

Shares of WBS opened at $50.67 on Wednesday. Webster Financial Co. has a 12-month low of $39.34 and a 12-month high of $63.99. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $8.68 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 1.02 and a beta of 1.28. The business’s 50 day moving average is $55.41 and its 200 day moving average is $54.68.

Webster Financial (NYSE:WBS) last released its earnings results on Friday, January 17th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.35 by $0.08. The firm had revenue of $661.00 million for the quarter, compared to the consensus estimate of $687.53 million. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. During the same quarter in the previous year, the firm earned $1.46 earnings per share. Research analysts expect that Webster Financial Co. will post 5.88 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were given a dividend of $0.40 per share. The ex-dividend date was Monday, February 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.16%. Webster Financial’s payout ratio is 36.61%.

Insider Transactions at Webster Financial

In other news, Director Laurence C. Morse sold 13,217 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total transaction of $780,728.19. Following the sale, the director now directly owns 18,808 shares of the company’s stock, valued at $1,110,988.56. This represents a 41.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.43, for a total transaction of $459,440.00. Following the completion of the transaction, the chief executive officer now directly owns 210,051 shares of the company’s stock, valued at approximately $12,063,228.93. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a research report on Saturday, January 11th. Barclays boosted their price objective on shares of Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. lowered their target price on Webster Financial from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Wells Fargo & Company raised Webster Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $70.00 to $75.00 in a report on Monday, January 6th. Finally, Royal Bank of Canada raised their price objective on Webster Financial from $66.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.36.

Webster Financial 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.