Bard Financial Services Inc. Has $1.88 Million Stake in Webster Financial Co. (NYSE:WBS)

Bard Financial Services Inc. reduced its holdings in shares of Webster Financial Co. (NYSE:WBS) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,050 shares of the financial services provider’s stock after selling 625 shares during the period. Bard Financial Services Inc.’s holdings in Webster Financial were worth $1,880,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. boosted its holdings in shares of Webster Financial by 9.3% during the 3rd quarter. Assetmark Inc. now owns 2,611 shares of the financial services provider’s stock worth $122,000 after buying an additional 222 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Webster Financial by 5.4% in the second quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 248 shares during the period. GAMMA Investing LLC increased its stake in Webster Financial by 14.8% in the fourth quarter. GAMMA Investing LLC now owns 2,045 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 264 shares in the last quarter. Covestor Ltd raised its holdings 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 purchasing an additional 276 shares during the period. Finally, Creative Financial Designs Inc. ADV boosted its position in shares of Webster Financial by 8.5% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 3,976 shares of the financial services provider’s stock worth $185,000 after purchasing an additional 311 shares in the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Webster Financial

In related news, Director Mark Pettie sold 4,500 shares of the company’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 transaction of $230,130.00. Following the sale, the director now directly owns 32,780 shares in the company, valued at approximately $1,676,369.20. This represents a 12.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Bley sold 3,463 shares of Webster Financial stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $52.10, for a total transaction of $180,422.30. Following the completion of the transaction, the insider now owns 19,529 shares of the company’s stock, valued at $1,017,460.90. This represents a 15.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,250 shares of company stock worth $2,105,322. Insiders own 0.88% of the company’s stock.

Webster Financial Stock Performance

Webster Financial stock traded up $1.12 during mid-day trading on Monday, reaching $56.60. 433,257 shares of the company’s stock were exchanged, compared to its average volume of 645,413. The business’s fifty day simple moving average is $57.58 and its 200 day simple moving average is $50.14. 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 Co. has a one year low of $39.33 and a one year high of $63.99. The firm has a market capitalization of $9.70 billion, a PE ratio of 12.83, a P/E/G ratio of 0.87 and a beta of 1.30.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The company had revenue of $647.62 million during the quarter, compared to analysts’ expectations of $677.72 million. During the same period last year, the firm posted $1.55 earnings per share. On average, sell-side analysts expect that Webster Financial Co. will post 5.24 earnings per share for the current year.

Webster Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.83%. Webster Financial’s dividend payout ratio (DPR) is presently 36.28%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. UBS Group initiated coverage on Webster Financial in a report on Tuesday, December 17th. They issued a “buy” rating and a $76.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Stephens set a $58.00 price objective on shares of Webster Financial in a report on Thursday, October 17th. Royal Bank of Canada lifted their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, Barclays upped their target price on shares of Webster Financial from $63.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $60.69.

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.