SeaCrest Wealth Management LLC Cuts Position in Webster Financial Co. (NYSE:WBS)

SeaCrest Wealth Management LLC lowered its holdings in shares of Webster Financial Co. (NYSE:WBS) by 3.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,815 shares of the financial services provider’s stock after selling 1,010 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Webster Financial were worth $1,311,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Headlands Technologies LLC acquired a new position in shares of Webster Financial during the fourth quarter valued at approximately $127,000. Norges Bank purchased a new stake in shares of Webster Financial during the fourth quarter worth $97,217,000. Franklin Resources Inc. raised its position in shares of Webster Financial by 33.4% in the fourth quarter. Franklin Resources Inc. now owns 119,730 shares of the financial services provider’s stock valued at $6,077,000 after buying an additional 29,956 shares during the last quarter. Groupama Asset Managment purchased a new position in shares of Webster Financial in the fourth quarter worth about $20,471,000. Finally, Vanguard Personalized Indexing Management LLC boosted its position in Webster Financial by 192.2% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 24,511 shares of the financial services provider’s stock worth $1,244,000 after acquiring an additional 16,124 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Webster Financial

In other news, insider Daniel Bley sold 2,280 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $44.80, for a total value of $102,144.00. Following the completion of the transaction, the insider now owns 28,693 shares in the company, valued at approximately $1,285,446.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

WBS has been the topic of a number of analyst reports. Citigroup reduced their price objective on Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Barclays decreased their price target on Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Raymond James reissued an “outperform” rating and set a $60.00 target price on shares of Webster Financial in a research note on Tuesday, March 26th. Finally, Jefferies Financial Group lowered their target price on Webster Financial from $65.00 to $56.00 and set a “buy” rating for the company in a report on Monday, April 8th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.17.

Webster Financial Stock Up 2.0 %

WBS stock opened at $45.15 on Wednesday. Webster Financial Co. has a fifty-two week low of $36.36 and a fifty-two week high of $53.39. The company’s 50 day moving average price is $43.59 and its 200 day moving average price is $46.98. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $7.74 billion, a price-to-earnings ratio of 9.25, a PEG ratio of 0.53 and a beta of 1.30.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The firm had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $680.72 million. Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $1.49 earnings per share. On average, equities research analysts anticipate that Webster Financial Co. will post 5.56 EPS for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date was Friday, May 3rd. Webster Financial’s dividend payout ratio (DPR) is 32.79%.

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.