Mason Street Advisors LLC reduced its holdings in shares of Webster Financial Co. (NYSE:WBS) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,331 shares of the financial services provider’s stock after selling 783 shares during the quarter. Mason Street Advisors LLC owned approximately 0.05% of Webster Financial worth $2,265,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the business. Cullen Frost Bankers Inc. bought a new stake in shares of Webster Financial in the third quarter valued at approximately $48,000. Quest Capital Management Inc. ADV bought a new position in Webster Financial in the third quarter worth approximately $110,000. Advisory Services Network LLC boosted its holdings in Webster Financial by 9.6% in the second quarter. Advisory Services Network LLC now owns 3,275 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 287 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in Webster Financial by 21.9% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,747 shares of the financial services provider’s stock worth $176,000 after acquiring an additional 674 shares in the last quarter. Finally, Menta Capital LLC bought a new position in Webster Financial in the second quarter worth approximately $202,000. Hedge funds and other institutional investors own 89.27% of the company’s stock.
In related news, Director Mark Pettie sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $46.32, for a total transaction of $185,280.00. Following the sale, the director now directly owns 35,272 shares of the company’s stock, valued at approximately $1,633,799.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Joseph Crawford sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $45.34, for a total transaction of $90,680.00. Following the sale, the director now directly owns 12,099 shares in the company, valued at $548,568.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,000 shares of company stock worth $321,640. Company insiders own 1.53% of the company’s stock.
WBS has been the subject of several research analyst reports. Zacks Investment Research lowered Webster Financial from a “hold” rating to a “sell” rating and set a $47.00 price target for the company. in a research note on Saturday, October 19th. Boenning Scattergood reaffirmed a “neutral” rating on shares of Webster Financial in a report on Friday, July 19th. Sandler O’Neill lowered shares of Webster Financial from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Stephens started coverage on shares of Webster Financial in a research note on Monday, October 28th. They issued an “underweight” rating and a $42.00 target price for the company. Finally, Compass Point downgraded shares of Webster Financial from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $52.33.
WBS traded up $0.39 on Friday, reaching $48.28. The stock had a trading volume of 74,566 shares, compared to its average volume of 842,780. Webster Financial Co. has a 12-month low of $42.29 and a 12-month high of $61.22. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.65. The business’s 50-day moving average price is $45.98 and its two-hundred day moving average price is $47.32. The company has a market cap of $4.42 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 1.47 and a beta of 1.27.
Webster Financial (NYSE:WBS) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.01). Webster Financial had a net margin of 27.14% and a return on equity of 13.49%. The firm had revenue of $310.50 million during the quarter, compared to analysts’ expectations of $314.65 million. During the same period in the previous year, the firm posted $0.98 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, analysts predict that Webster Financial Co. will post 4.09 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be issued a $0.40 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 3.31%. Webster Financial’s dividend payout ratio is currently 42.78%.
About Webster Financial
Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.
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