Bradley Foster & Sargent Inc. CT Sells 1,000 Shares of Webster Financial Co. (NYSE:WBS)

Bradley Foster & Sargent Inc. CT cut its stake in Webster Financial Co. (NYSE:WBS) by 12.4% in the second quarter, Holdings Channel reports. The institutional investor owned 7,060 shares of the financial services provider’s stock after selling 1,000 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Webster Financial were worth $308,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Principal Securities Inc. purchased a new position in shares of Webster Financial during the 4th quarter worth about $45,000. Janney Montgomery Scott LLC boosted its position in shares of Webster Financial by 3.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 33,087 shares of the financial services provider’s stock valued at $1,680,000 after buying an additional 988 shares during the period. Beacon Pointe Advisors LLC grew its stake in shares of Webster Financial by 29.5% during the fourth quarter. Beacon Pointe Advisors LLC now owns 10,758 shares of the financial services provider’s stock valued at $546,000 after buying an additional 2,449 shares during the last quarter. Great Lakes Advisors LLC purchased a new stake in shares of Webster Financial in the fourth quarter worth approximately $255,000. Finally, Norges Bank bought a new stake in shares of Webster Financial during the 4th quarter worth approximately $97,217,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Trading Up 3.4 %

WBS opened at $48.36 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The firm has a market cap of $8.29 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 0.67 and a beta of 1.28. Webster Financial Co. has a 12 month low of $36.36 and a 12 month high of $53.39. The stock has a fifty day moving average price of $46.06 and a 200-day moving average price of $45.65.

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

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Monday, July 29th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Monday, July 29th. Webster Financial’s payout ratio is presently 32.79%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Morgan Stanley downgraded Webster Financial from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $54.00 to $57.00 in a research report on Monday, August 5th. Barclays reduced their price target 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. Jefferies Financial Group lowered their price objective on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. reduced their target price on shares of Webster Financial from $63.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, June 27th. Finally, Keefe, Bruyette & Woods lowered their price target on Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Webster Financial currently has an average rating of “Moderate Buy” and a consensus price target of $55.36.

Insider Activity

In other news, insider Jason A. Soto sold 1,650 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total transaction of $76,428.00. Following the transaction, the insider now owns 20,539 shares in the company, valued at $951,366.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $48.04, for a total transaction of $384,320.00. Following the completion of the transaction, the chief executive officer now directly owns 237,049 shares of the company’s stock, valued at approximately $11,387,833.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason A. Soto sold 1,650 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total transaction of $76,428.00. Following the transaction, the insider now 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 quarter, insiders sold 14,650 shares of company stock worth $706,098. Insiders own 0.88% of the company’s stock.

About Webster Financial

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.