Victory Capital Management Inc. Sells 537,916 Shares of Webster Financial Corporation (WBS)
Victory Capital Management Inc. cut its holdings in Webster Financial Corporation (NYSE:WBS) by 66.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 266,860 shares of the financial services provider’s stock after selling 537,916 shares during the quarter. Victory Capital Management Inc. owned 0.29% of Webster Financial Corporation worth $14,023,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Chilton Investment Co. LLC bought a new position in Webster Financial Corporation in the 2nd quarter valued at approximately $2,994,000. BNP Paribas Arbitrage SA lifted its position in Webster Financial Corporation by 65.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 34,826 shares of the financial services provider’s stock valued at $1,819,000 after acquiring an additional 13,781 shares in the last quarter. BlueCrest Capital Management Ltd bought a new position in Webster Financial Corporation in the 2nd quarter valued at approximately $7,481,000. Marshall Wace North America L.P. bought a new position in Webster Financial Corporation in the 2nd quarter valued at approximately $5,515,000. Finally, Jennison Associates LLC lifted its position in Webster Financial Corporation by 8.0% in the 2nd quarter. Jennison Associates LLC now owns 47,275 shares of the financial services provider’s stock valued at $2,469,000 after acquiring an additional 3,504 shares in the last quarter. 93.94% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on WBS shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $63.00 price objective on shares of Webster Financial Corporation in a research report on Friday, October 20th. Boenning Scattergood reaffirmed a “hold” rating on shares of Webster Financial Corporation in a research report on Friday, October 20th. BidaskClub cut Webster Financial Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Wells Fargo & Company upped their price objective on Webster Financial Corporation from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 20th. Finally, ValuEngine raised Webster Financial Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $55.22.
Webster Financial Corporation (NYSE:WBS) opened at $52.29 on Monday. The firm has a market capitalization of $4,814.59, a price-to-earnings ratio of 20.67, a PEG ratio of 2.52 and a beta of 1.23. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.81 and a current ratio of 0.81. Webster Financial Corporation has a twelve month low of $44.04 and a twelve month high of $57.50.
Webster Financial Corporation (NYSE:WBS) last released its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.03. The firm had revenue of $266.75 million for the quarter, compared to analysts’ expectations of $269.03 million. Webster Financial Corporation had a return on equity of 9.89% and a net margin of 21.09%. During the same period in the prior year, the firm earned $0.54 EPS. sell-side analysts predict that Webster Financial Corporation will post 2.6 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 21st. Investors of record on Tuesday, November 7th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.04 dividend on an annualized basis and a yield of 1.99%. Webster Financial Corporation’s dividend payout ratio is currently 41.11%.
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In related news, Chairman James Copenhaver Smith sold 8,943 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $55.93, for a total value of $500,181.99. Following the transaction, the chairman now directly owns 316,103 shares of the company’s stock, valued at approximately $17,679,640.79. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Karen R. Osar sold 12,923 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $54.70, for a total value of $706,888.10. Following the completion of the transaction, the director now directly owns 36,984 shares in the company, valued at $2,023,024.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,107 shares of company stock worth $1,988,452. 2.20% of the stock is owned by insiders.
About Webster Financial Corporation
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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