Franklin Resources Inc. Reduces Stock Position in Webster Financial Co. (NYSE:WBS)

Franklin Resources Inc. trimmed its stake in shares of Webster Financial Co. (NYSE:WBS) by 14.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 171,986 shares of the financial services provider’s stock after selling 29,940 shares during the quarter. Franklin Resources Inc.’s holdings in Webster Financial were worth $8,273,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. V Square Quantitative Management LLC bought a new position in shares of Webster Financial during the third quarter valued at approximately $27,000. UMB Bank n.a. boosted its position in Webster Financial by 340.7% during the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 460 shares during the period. Hantz Financial Services Inc. bought a new position in Webster Financial during the 2nd quarter worth $32,000. Brooklyn Investment Group acquired a new stake in Webster Financial in the third quarter worth $53,000. Finally, NBC Securities Inc. lifted its stake in Webster Financial by 117.9% in the third quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock valued at $59,000 after buying an additional 686 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

Insider Transactions at Webster Financial

In other Webster Financial news, insider Javier L. Evans sold 10,137 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $57.41, for a total value of $581,965.17. Following the completion of the sale, the insider now directly owns 22,657 shares of the company’s stock, valued at $1,300,738.37. The trade was a 30.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Daniel Bley sold 500 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $61.91, for a total transaction of $30,955.00. Following the transaction, the insider now owns 17,279 shares in the company, valued at $1,069,742.89. This represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,250 shares of company stock valued at $2,105,322. 0.88% of the stock is owned by insiders.

Webster Financial Price Performance

WBS stock opened at $54.99 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $9.43 billion, a PE ratio of 12.47, a P/E/G ratio of 0.87 and a beta of 1.29. Webster Financial Co. has a one year low of $39.33 and a one year high of $63.99. The firm has a 50-day moving average of $56.74 and a two-hundred day moving average of $49.06.

Webster Financial (NYSE:WBS) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. The business had revenue of $647.62 million during the quarter, compared to analysts’ expectations of $677.72 million. During the same quarter in the previous year, the company earned $1.55 EPS. On average, analysts forecast that Webster Financial Co. will post 5.24 earnings per share for the current year.

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date was Friday, November 1st. Webster Financial’s dividend payout ratio (DPR) is currently 36.28%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. Wedbush boosted their price objective on Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Barclays raised their target price on Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Royal Bank of Canada increased their price target on Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, Morgan Stanley lowered their price target on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.31.

Webster Financial Profile

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.