Rhumbline Advisers decreased its holdings in shares of Webster Financial Co. (NYSE:WBS) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 199,695 shares of the financial services provider’s stock after selling 1,965 shares during the period. Rhumbline Advisers’ holdings in Webster Financial were worth $11,215,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in Webster Financial during the third quarter worth about $202,000. Fox Run Management L.L.C. acquired a new stake in Webster Financial during the fourth quarter worth about $264,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Webster Financial by 39.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,788 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 1,353 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in shares of Webster Financial in the fourth quarter valued at approximately $271,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Webster Financial in the fourth quarter valued at approximately $303,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.
In related news, Director Joel S. Becker sold 5,064 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $54.22, for a total transaction of $274,570.08. Following the transaction, the director now owns 58,283 shares in the company, valued at $3,160,104.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel Bley sold 2,917 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $58.27, for a total transaction of $169,973.59. Following the transaction, the executive vice president now owns 19,804 shares in the company, valued at approximately $1,153,979.08. The disclosure for this sale can be found here. Insiders have sold 11,272 shares of company stock worth $629,959 in the last quarter. Company insiders own 2.20% of the company’s stock.
Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.06. Webster Financial had a net margin of 21.77% and a return on equity of 9.91%. The business had revenue of $270.97 million for the quarter, compared to analyst estimates of $269.64 million. During the same quarter last year, the business earned $0.60 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. research analysts expect that Webster Financial Co. will post 3.37 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, February 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.91%. Webster Financial’s dividend payout ratio is presently 39.10%.
Several equities research analysts have commented on WBS shares. Deutsche Bank raised their price target on shares of Webster Financial from $51.00 to $53.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. ValuEngine lowered shares of Webster Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Zacks Investment Research upgraded shares of Webster Financial from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Wednesday, December 20th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $71.00 price target on shares of Webster Financial in a research note on Friday, December 22nd. Finally, Barclays raised their price target on shares of Webster Financial from $55.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. Webster Financial presently has a consensus rating of “Hold” and a consensus target price of $59.82.
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Webster Financial 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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