National Bank of Canada FI Decreases Stock Position in Webster Financial Co. (NYSE:WBS)

National Bank of Canada FI lessened its position in shares of Webster Financial Co. (NYSE:WBS) by 85.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,730 shares of the financial services provider’s stock after selling 95,370 shares during the period. National Bank of Canada FI’s holdings in Webster Financial were worth $696,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WBS. BNP Paribas Financial Markets boosted its position in Webster Financial by 156.5% during the first quarter. BNP Paribas Financial Markets now owns 96,052 shares of the financial services provider’s stock worth $4,877,000 after purchasing an additional 58,602 shares during the period. Sound Income Strategies LLC lifted its stake in shares of Webster Financial by 1,859.1% during the 2nd quarter. Sound Income Strategies LLC now owns 15,692 shares of the financial services provider’s stock valued at $684,000 after buying an additional 14,891 shares in the last quarter. Norges Bank bought a new position in Webster Financial in the 4th quarter worth approximately $97,217,000. Jupiter Asset Management Ltd. purchased a new position in Webster Financial in the 1st quarter valued at approximately $3,529,000. Finally, Franklin Resources Inc. raised its holdings in Webster Financial by 33.4% during the 4th quarter. Franklin Resources Inc. now owns 119,730 shares of the financial services provider’s stock valued at $6,077,000 after acquiring an additional 29,956 shares during the period. Institutional investors own 85.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WBS. Royal Bank of Canada cut their price target on Webster Financial from $54.00 to $51.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Jefferies Financial Group reduced their target price on Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods lowered their price target on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, July 9th. JPMorgan Chase & Co. reduced their price objective on shares of Webster Financial from $63.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Finally, Barclays lowered their target price on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.36.

Insider Activity

In related news, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $48.04, for a total value of $384,320.00. Following the completion of the sale, the chief executive officer now owns 237,049 shares in the company, valued at approximately $11,387,833.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction on Monday, July 15th. The shares were sold at an average price of $48.04, for a total value of $384,320.00. Following the transaction, the chief executive officer now owns 237,049 shares in the company, valued at approximately $11,387,833.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jason A. Soto sold 1,650 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total transaction of $76,428.00. Following the completion of the sale, the insider now directly owns 20,539 shares of the company’s stock, valued at $951,366.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,650 shares of company stock worth $706,098. 0.88% of the stock is currently owned by insiders.

Webster Financial Trading Down 0.5 %

Shares of Webster Financial stock opened at $43.73 on Friday. The company has a 50 day simple moving average of $45.89 and a two-hundred day simple moving average of $45.70. The firm has a market cap of $7.50 billion, a PE ratio of 8.96, a PEG ratio of 0.65 and a beta of 1.28. Webster Financial Co. has a 1 year low of $36.36 and a 1 year high of $53.39. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.85.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $671.91 million. Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. During the same period in the prior year, the firm posted $1.50 earnings per share. Analysts expect that Webster Financial Co. will post 5.27 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Monday, July 29th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Monday, July 29th. Webster Financial’s payout ratio is currently 32.79%.

Webster Financial Company 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.