Webster Financial Co. (NYSE:WBS) Shares Sold by Algebris UK Ltd

Algebris UK Ltd lessened its holdings in shares of Webster Financial Co. (NYSE:WBS) by 30.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 167,146 shares of the financial services provider’s stock after selling 73,139 shares during the quarter. Webster Financial makes up about 2.3% of Algebris UK Ltd’s portfolio, making the stock its 17th biggest holding. Algebris UK Ltd’s holdings in Webster Financial were worth $8,914,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp raised its holdings in shares of Webster Financial by 4.8% during the 3rd quarter. State Street Corp now owns 7,320,930 shares of the financial services provider’s stock worth $341,229,000 after acquiring an additional 333,606 shares during the period. Geode Capital Management LLC raised its holdings in shares of Webster Financial by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,969,928 shares of the financial services provider’s stock worth $138,465,000 after acquiring an additional 54,613 shares during the period. Basswood Capital Management L.L.C. raised its holdings in shares of Webster Financial by 5.6% during the 3rd quarter. Basswood Capital Management L.L.C. now owns 1,777,413 shares of the financial services provider’s stock worth $82,845,000 after acquiring an additional 93,929 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Webster Financial by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,507,655 shares of the financial services provider’s stock worth $83,253,000 after acquiring an additional 38,713 shares during the period. Finally, Systematic Financial Management LP raised its holdings in shares of Webster Financial by 12.6% during the 3rd quarter. Systematic Financial Management LP now owns 960,383 shares of the financial services provider’s stock worth $44,763,000 after acquiring an additional 107,165 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Stock Up 0.1 %

Shares of NYSE:WBS opened at $50.90 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $8.72 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 1.02 and a beta of 1.28. The firm’s 50-day moving average is $56.46 and its two-hundred day moving average is $54.20. Webster Financial Co. has a 1 year low of $39.34 and a 1 year high of $63.99.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Friday, January 17th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.08. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The business had revenue of $661.00 million during the quarter, compared to the consensus estimate of $687.53 million. During the same period in the previous year, the company posted $1.46 earnings per share. Analysts predict that Webster Financial Co. will post 5.88 EPS for the current year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Monday, February 10th. Webster Financial’s dividend payout ratio is presently 36.61%.

Analyst Ratings Changes

WBS has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their price target on Webster Financial from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley reduced their price objective on shares of Webster Financial from $75.00 to $66.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. UBS Group began coverage on shares of Webster Financial in a report on Tuesday, December 17th. They issued a “buy” rating and a $76.00 price objective on the stock. Royal Bank of Canada boosted their price objective on shares of Webster Financial from $66.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Finally, Barclays boosted their price objective on shares of Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.08.

Insider Transactions at Webster Financial

In other news, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.43, for a total transaction of $459,440.00. Following the completion of the transaction, the chief executive officer now directly owns 210,051 shares of the company’s stock, valued at approximately $12,063,228.93. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Laurence C. Morse sold 13,217 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $59.07, for a total value of $780,728.19. Following the completion of the transaction, the director now directly owns 18,808 shares of the company’s stock, valued at $1,110,988.56. This trade represents a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.