Webster Financial Co. (NYSE:WBS) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its position in shares of Webster Financial Co. (NYSE:WBS) by 1.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,684 shares of the financial services provider’s stock after selling 261 shares during the period. Pacer Advisors Inc.’s holdings in Webster Financial were worth $1,120,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in shares of Webster Financial during the 1st quarter worth approximately $29,000. Hantz Financial Services Inc. acquired a new position in Webster Financial during the second quarter worth $32,000. Mather Group LLC. lifted its holdings in Webster Financial by 7,650.0% in the second quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 1,224 shares during the period. GAMMA Investing LLC lifted its holdings in Webster Financial by 30.1% in the second quarter. GAMMA Investing LLC now owns 1,629 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 377 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of Webster Financial during the 2nd quarter worth $71,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Price Performance

WBS stock opened at $46.39 on Friday. The stock has a 50-day simple moving average of $45.90 and a 200-day simple moving average of $45.58. The firm has a market cap of $7.96 billion, a P/E ratio of 9.51, a price-to-earnings-growth ratio of 0.69 and a beta of 1.28. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 0.85. Webster Financial Co. has a 1 year low of $36.36 and a 1 year high of $53.39.

Webster Financial (NYSE:WBS) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates 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 previous year, the firm posted $1.50 earnings per share. On average, equities analysts predict that Webster Financial Co. will post 5.27 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently announced 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 3.45%. The ex-dividend date was Monday, July 29th. Webster Financial’s payout ratio is 32.79%.

Insiders Place Their Bets

In other news, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were 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 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 available through the SEC website. In other 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 directly owns 237,049 shares in the company, valued at approximately $11,387,833.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the insider now owns 20,539 shares of the company’s stock, valued at approximately $951,366.48. The disclosure for this sale can be found here. Insiders have sold 14,650 shares of company stock worth $706,098 in the last three months. 0.88% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WBS. Keefe, Bruyette & Woods lowered their target price on Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, July 9th. Barclays dropped their target price on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Royal Bank of Canada dropped their price objective on shares of Webster Financial from $54.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. JPMorgan Chase & Co. reduced their target price on Webster Financial from $63.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Finally, Morgan Stanley downgraded Webster Financial from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $54.00 to $57.00 in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Webster Financial has an average rating of “Moderate Buy” and a consensus price target of $55.36.

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.