Fisher Asset Management LLC lowered its stake in shares of Webster Financial Corporation (NYSE:WBS) by 24.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,821,435 shares of the financial services provider’s stock after selling 579,648 shares during the period. Fisher Asset Management LLC owned about 1.98% of Webster Financial Corporation worth $95,115,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Flinton Capital Management LLC raised its position in shares of Webster Financial Corporation by 20.9% in the first quarter. Flinton Capital Management LLC now owns 3,152 shares of the financial services provider’s stock worth $158,000 after buying an additional 544 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in shares of Webster Financial Corporation by 18.6% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,185 shares of the financial services provider’s stock worth $155,000 after buying an additional 500 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of Webster Financial Corporation during the first quarter worth approximately $215,000. Meadow Creek Investment Management LLC increased its stake in shares of Webster Financial Corporation by 20.9% in the first quarter. Meadow Creek Investment Management LLC now owns 4,334 shares of the financial services provider’s stock valued at $217,000 after buying an additional 748 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new stake in shares of Webster Financial Corporation during the first quarter valued at $220,000. 96.83% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Webster Financial Corporation (NYSE:WBS) traded up 0.57% during trading on Tuesday, reaching $50.94. The company’s stock had a trading volume of 424,092 shares. The stock’s 50 day moving average price is $52.33 and its 200-day moving average price is $51.95. Webster Financial Corporation has a 12 month low of $36.21 and a 12 month high of $57.50. The firm has a market cap of $4.70 billion, a PE ratio of 21.22 and a beta of 1.25.
Webster Financial Corporation (NYSE:WBS) last issued its earnings results on Friday, July 21st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.04. The firm had revenue of $262.50 million for the quarter, compared to the consensus estimate of $260.91 million. Webster Financial Corporation had a net margin of 20.43% and a return on equity of 9.49%. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Equities analysts predict that Webster Financial Corporation will post $2.55 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 7th will be paid a $0.26 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.04 annualized dividend and a dividend yield of 2.04%. Webster Financial Corporation’s dividend payout ratio is presently 43.33%.
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A number of analysts have commented on the company. Jefferies Group LLC set a $53.00 price objective on Webster Financial Corporation and gave the stock a “hold” rating in a research report on Saturday, May 6th. BidaskClub upgraded Webster Financial Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Barclays PLC raised their price target on Webster Financial Corporation from $50.00 to $52.00 and gave the company an “equal weight” rating in a report on Tuesday, April 25th. Piper Jaffray Companies reaffirmed a “sell” rating and set a $46.00 price target on shares of Webster Financial Corporation in a report on Friday, July 14th. Finally, Zacks Investment Research cut Webster Financial Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. Webster Financial Corporation has an average rating of “Hold” and an average price target of $53.00.
In related news, EVP Nitin J. Mhatre sold 31,940 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $51.34, for a total transaction of $1,639,799.60. Following the transaction, the executive vice president now owns 23,120 shares in the company, valued at $1,186,980.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Daniel Bley sold 8,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $51.20, for a total transaction of $409,600.00. Following the transaction, the executive vice president now owns 25,657 shares in the company, valued at approximately $1,313,638.40. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
Webster Financial Corporation Company Profile
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, which includes government and institutional banking.
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