KBC Group NV Sells 185,982 Shares of Webster Financial Co. (NYSE:WBS)

KBC Group NV reduced its position in shares of Webster Financial Co. (NYSE:WBS) by 88.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,468 shares of the financial services provider’s stock after selling 185,982 shares during the quarter. KBC Group NV’s holdings in Webster Financial were worth $1,141,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. raised its stake in shares of Webster Financial by 9.3% during the third quarter. Assetmark Inc. now owns 2,611 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 222 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Webster Financial by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock worth $210,000 after buying an additional 248 shares during the period. US Bancorp DE grew its position in shares of Webster Financial by 3.6% in the 1st quarter. US Bancorp DE now owns 7,487 shares of the financial services provider’s stock worth $380,000 after buying an additional 260 shares during the last quarter. Covestor Ltd increased its stake in shares of Webster Financial by 17.0% during the third quarter. Covestor Ltd now owns 1,895 shares of the financial services provider’s stock valued at $89,000 after buying an additional 276 shares during the period. Finally, Creative Financial Designs Inc. ADV raised its holdings in shares of Webster Financial by 8.5% during the third quarter. Creative Financial Designs Inc. ADV now owns 3,976 shares of the financial services provider’s stock valued at $185,000 after acquiring an additional 311 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Insider Buying and Selling

In other Webster Financial news, insider Javier L. Evans sold 10,137 shares of Webster Financial 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 owns 22,657 shares of the company’s stock, valued at approximately $1,300,738.37. The trade was a 30.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark Pettie sold 4,500 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $51.14, for a total value of $230,130.00. Following the transaction, the director now directly owns 32,780 shares in the company, valued at $1,676,369.20. The trade was a 12.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,100 shares of company stock worth $1,202,237. 0.88% of the stock is owned by corporate insiders.

Webster Financial Stock Up 0.8 %

NYSE:WBS opened at $60.53 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $10.38 billion, a P/E ratio of 13.73, a P/E/G ratio of 0.89 and a beta of 1.27. Webster Financial Co. has a fifty-two week low of $39.33 and a fifty-two week high of $61.12. The firm has a 50-day simple moving average of $50.11 and a two-hundred day simple moving average of $46.62.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.01). The firm had revenue of $647.62 million for the quarter, compared to the consensus estimate of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same period last year, the business earned $1.55 EPS. Analysts predict that Webster Financial Co. will post 5.24 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were given a dividend of $0.40 per share. The ex-dividend date was Friday, November 1st. This represents a $1.60 annualized dividend and a dividend yield of 2.64%. Webster Financial’s dividend payout ratio (DPR) is presently 36.28%.

Analyst Upgrades and Downgrades

WBS has been the topic of several recent analyst reports. Wedbush lifted their price target on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Barclays boosted their price target on shares of Webster Financial from $60.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Morgan Stanley lowered their price objective on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, September 30th. JPMorgan Chase & Co. decreased their target price on Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada lifted their price target on Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.85.

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.