Webster Financial Corporation $WBS Shares Sold by Strs Ohio

Strs Ohio lessened its stake in shares of Webster Financial Corporation (NYSE:WBS) by 89.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,001 shares of the financial services provider’s stock after selling 33,875 shares during the quarter. Strs Ohio’s holdings in Webster Financial were worth $238,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in WBS. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Webster Financial by 15.6% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 42,012 shares of the financial services provider’s stock worth $2,497,000 after acquiring an additional 5,671 shares during the last quarter. Root Financial Partners LLC purchased a new position in shares of Webster Financial during the third quarter worth $29,000. Arkadios Wealth Advisors grew its stake in shares of Webster Financial by 2.4% in the third quarter. Arkadios Wealth Advisors now owns 12,410 shares of the financial services provider’s stock valued at $738,000 after buying an additional 292 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Webster Financial by 4.1% in the 3rd quarter. Verdence Capital Advisors LLC now owns 10,328 shares of the financial services provider’s stock valued at $590,000 after buying an additional 411 shares during the period. Finally, NorthCrest Asset Manangement LLC raised its holdings in shares of Webster Financial by 1.2% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 50,751 shares of the financial services provider’s stock valued at $3,052,000 after buying an additional 621 shares during the period. 85.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on WBS shares. JPMorgan Chase & Co. raised their target price on Webster Financial from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Citigroup dropped their price objective on shares of Webster Financial from $77.00 to $75.00 and set a “buy” rating for the company in a report on Monday, January 26th. Keefe, Bruyette & Woods increased their target price on shares of Webster Financial from $75.00 to $77.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Truist Financial boosted their price target on shares of Webster Financial from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $72.00 price target on shares of Webster Financial in a research note on Monday, January 12th. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $73.46.

Webster Financial Trading Up 0.4%

NYSE WBS opened at $66.05 on Tuesday. Webster Financial Corporation has a 52 week low of $39.43 and a 52 week high of $67.43. The firm has a 50 day moving average of $63.67 and a two-hundred day moving average of $60.43. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $10.65 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 0.85 and a beta of 1.07.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Friday, January 23rd. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.07. The business had revenue of $760.48 million during the quarter, compared to analysts’ expectations of $731.95 million. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. During the same period in the previous year, the company earned $1.43 EPS. As a group, research analysts expect that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Monday, February 9th will be issued a $0.40 dividend. The ex-dividend date is Monday, February 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.4%. Webster Financial’s dividend payout ratio is presently 27.07%.

Insider Buying and Selling at Webster Financial

In related news, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $55.45, for a total transaction of $443,600.00. Following the completion of the sale, the chief executive officer owned 231,872 shares in the company, valued at $12,857,302.40. The trade was a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.54% of the company’s stock.

About Webster Financial

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.