First Mercantile Trust Co. Has $1.09 Million Stake in Webster Financial Corporation (NYSE:WBS)
First Mercantile Trust Co. cut its stake in Webster Financial Corporation (NYSE:WBS) by 33.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,909 shares of the financial services provider’s stock after selling 10,642 shares during the period. First Mercantile Trust Co.’s holdings in Webster Financial Corporation were worth $1,091,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the company. Northwestern Mutual Investment Management Company LLC increased its stake in Webster Financial Corporation by 0.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 15,857 shares of the financial services provider’s stock valued at $793,000 after buying an additional 49 shares during the period. FMR LLC increased its stake in Webster Financial Corporation by 0.6% in the fourth quarter. FMR LLC now owns 10,289 shares of the financial services provider’s stock valued at $558,000 after buying an additional 65 shares during the period. Janney Montgomery Scott LLC increased its stake in Webster Financial Corporation by 0.7% in the first quarter. Janney Montgomery Scott LLC now owns 15,869 shares of the financial services provider’s stock valued at $794,000 after buying an additional 112 shares during the period. World Asset Management Inc increased its stake in Webster Financial Corporation by 2.2% in the second quarter. World Asset Management Inc now owns 5,827 shares of the financial services provider’s stock valued at $304,000 after buying an additional 126 shares during the period. Finally, Creative Planning increased its stake in Webster Financial Corporation by 1.6% in the first quarter. Creative Planning now owns 10,019 shares of the financial services provider’s stock valued at $501,000 after buying an additional 155 shares during the period. 96.83% of the stock is currently owned by institutional investors and hedge funds.
Shares of Webster Financial Corporation (NYSE WBS) opened at 47.93 on Friday. The company’s 50-day moving average price is $52.02 and its 200-day moving average price is $51.86. Webster Financial Corporation has a 52-week low of $36.64 and a 52-week high of $57.50. The stock has a market cap of $4.41 billion, a PE ratio of 19.97 and a beta of 1.25.
Webster Financial Corporation (NYSE:WBS) last announced its quarterly earnings results on Friday, July 21st. The financial services provider reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.04. Webster Financial Corporation had a return on equity of 9.49% and a net margin of 20.43%. The firm had revenue of $262.50 million during the quarter, compared to analyst estimates of $260.91 million. During the same quarter in the previous year, the business earned $0.53 EPS. On average, equities research analysts forecast that Webster Financial Corporation will post $2.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Investors 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 2.17%. Webster Financial Corporation’s dividend payout ratio is presently 43.33%.
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Several equities research analysts have commented on the company. Jefferies Group LLC set a $53.00 target price on Webster Financial Corporation and gave the stock a “hold” rating in a report on Saturday, May 6th. Piper Jaffray Companies reissued a “sell” rating and issued a $46.00 target price on shares of Webster Financial Corporation in a report on Friday, July 14th. BidaskClub raised Webster Financial Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Barclays PLC upped 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. Finally, Zacks Investment Research downgraded Webster Financial Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $53.00.
In other Webster Financial Corporation news, EVP Nitin J. Mhatre sold 31,940 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $51.34, for a total transaction of $1,639,799.60. Following the completion of the sale, the executive vice president now directly owns 23,120 shares in the company, valued at approximately $1,186,980.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Daniel Bley sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $51.20, for a total value of $409,600.00. Following the sale, the executive vice president now owns 25,657 shares of the company’s stock, valued at $1,313,638.40. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.
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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