Intech Investment Management LLC Lowers Stock Holdings in Webster Financial Co. (NYSE:WBS)

Intech Investment Management LLC trimmed its position in shares of Webster Financial Co. (NYSE:WBS) by 18.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,349 shares of the financial services provider’s stock after selling 7,749 shares during the quarter. Intech Investment Management LLC’s holdings in Webster Financial were worth $1,601,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in Webster Financial during the 3rd quarter valued at about $27,000. UMB Bank n.a. boosted its stake in shares of Webster Financial by 340.7% in the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock valued at $28,000 after buying an additional 460 shares during the period. Hantz Financial Services Inc. purchased a new position in shares of Webster Financial in the 2nd quarter valued at about $32,000. Mather Group LLC. boosted its stake in shares of Webster Financial by 7,650.0% in the 2nd quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock valued at $54,000 after buying an additional 1,224 shares during the period. Finally, NBC Securities Inc. boosted its stake in shares of Webster Financial by 117.9% in the 3rd quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock valued at $59,000 after buying an additional 686 shares during the period. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Webster Financial Trading Up 1.7 %

WBS opened at $62.82 on Tuesday. The firm has a market cap of $10.77 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 0.91 and a beta of 1.27. Webster Financial Co. has a 52 week low of $39.33 and a 52 week high of $63.99. The business’s 50 day moving average is $51.76 and its two-hundred day moving average is $47.16. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 EPS 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 analyst estimates of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same period last year, the firm earned $1.55 EPS. On average, research analysts predict that Webster Financial Co. will post 5.24 EPS for the current year.

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial’s payout ratio is currently 36.28%.

Insider Activity

In other news, Director Lauren States sold 1,650 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $60.60, for a total value of $99,990.00. Following the transaction, the director now owns 15,023 shares of the company’s stock, valued at approximately $910,393.80. The trade was a 9.90 % decrease in their ownership of the stock. 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 business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 32,780 shares in the company, valued at approximately $1,676,369.20. The trade was a 12.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,750 shares of company stock valued at $2,074,367. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on WBS shares. StockNews.com cut Webster Financial from a “hold” rating to a “sell” rating in a research note on Monday, November 18th. Stephens set a $58.00 price objective on Webster Financial in a research note on Thursday, October 17th. Barclays lifted their price objective on Webster Financial from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Royal Bank of Canada lifted their price objective on Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, Wedbush raised their target price on Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average 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.