Webster Financial Corporation $WBS Shares Sold by Sutton Place Investors LLC

Sutton Place Investors LLC lessened its holdings in Webster Financial Corporation (NYSE:WBS) by 4.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,195 shares of the financial services provider’s stock after selling 589 shares during the period. Sutton Place Investors LLC’s holdings in Webster Financial were worth $666,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Picton Mahoney Asset Management purchased a new position in shares of Webster Financial in the 1st quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Webster Financial by 327.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 739 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 566 shares during the period. TCTC Holdings LLC raised its stake in shares of Webster Financial by 118.4% in the 1st quarter. TCTC Holdings LLC now owns 832 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 451 shares during the period. Allworth Financial LP raised its stake in shares of Webster Financial by 43.7% in the 1st quarter. Allworth Financial LP now owns 941 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 286 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of Webster Financial by 166.1% in the 1st quarter. Bessemer Group Inc. now owns 1,027 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 641 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Price Performance

WBS opened at $59.54 on Friday. The company has a 50-day moving average of $59.67 and a 200-day moving average of $54.54. The company has a market capitalization of $9.89 billion, a P/E ratio of 12.08, a PEG ratio of 0.55 and a beta of 1.05. Webster Financial Corporation has a 1-year low of $39.43 and a 1-year high of $63.99. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.85 and a current ratio of 0.86.

Webster Financial (NYSE:WBS) last released its earnings results on Thursday, July 17th. The financial services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.09. The company had revenue of $715.80 million during the quarter, compared to the consensus estimate of $716.59 million. Webster Financial had a net margin of 20.06% and a return on equity of 10.84%. The company’s revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.26 EPS. Equities analysts expect that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Monday, August 11th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.60 annualized dividend and a dividend yield of 2.7%. Webster Financial’s payout ratio is presently 32.45%.

Insider Buying and Selling

In other news, Director William L. Atwell sold 16,823 shares of the business’s stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $59.20, for a total value of $995,921.60. Following the completion of the sale, the director owned 30,915 shares of the company’s stock, valued at approximately $1,830,168. The trade was a 35.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $57.95, for a total transaction of $463,600.00. Following the sale, the chief executive officer directly owned 239,872 shares of the company’s stock, valued at approximately $13,900,582.40. This represents a 3.23% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,445 shares of company stock worth $2,168,537. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WBS shares. Morgan Stanley raised their target price on shares of Webster Financial from $64.00 to $77.00 and gave the company an “underperform” rating in a research note on Monday, September 29th. Truist Financial reaffirmed a “buy” rating and set a $67.00 price target (up previously from $61.00) on shares of Webster Financial in a research note on Friday, July 11th. Seaport Res Ptn downgraded shares of Webster Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. Cowen assumed coverage on shares of Webster Financial in a research note on Wednesday, September 24th. They set a “buy” rating on the stock. Finally, Barclays lifted their price target on shares of Webster Financial from $72.00 to $77.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Fourteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $68.67.

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.