Webster Financial Corporation $WBS Shares Sold by 111 Capital

111 Capital decreased its stake in Webster Financial Corporation (NYSE:WBS) by 68.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,690 shares of the financial services provider’s stock after selling 12,086 shares during the period. 111 Capital’s holdings in Webster Financial were worth $311,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Amundi raised its position in Webster Financial by 699.7% in the 1st quarter. Amundi now owns 137,740 shares of the financial services provider’s stock valued at $7,100,000 after purchasing an additional 120,516 shares during the last quarter. Bessemer Group Inc. raised its position in Webster Financial by 166.1% in the 1st quarter. Bessemer Group Inc. now owns 1,027 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 641 shares during the last quarter. GAMMA Investing LLC raised its position in Webster Financial by 48.3% in the 1st quarter. GAMMA Investing LLC now owns 3,032 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 987 shares during the last quarter. LPL Financial LLC raised its position in Webster Financial by 9.9% in the 1st quarter. LPL Financial LLC now owns 77,103 shares of the financial services provider’s stock valued at $3,975,000 after purchasing an additional 6,948 shares during the last quarter. Finally, Allworth Financial LP raised its position in Webster Financial by 43.7% in the 1st quarter. Allworth Financial LP now owns 941 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 286 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WBS. Cantor Fitzgerald began coverage on shares of Webster Financial in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $70.00 price target for the company. Seaport Res Ptn downgraded shares of Webster Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 25th. Morgan Stanley upped their price objective on shares of Webster Financial from $64.00 to $77.00 and gave the stock an “underperform” rating in a research report on Monday, September 29th. UBS Group restated a “buy” rating and set a $69.00 price objective on shares of Webster Financial in a research report on Wednesday, July 9th. Finally, Citigroup upped their price objective on shares of Webster Financial from $65.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Fourteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Webster Financial currently has an average rating of “Moderate Buy” and a consensus target price of $68.67.

Insider Buying and Selling at Webster Financial

In other news, insider Jason A. Soto sold 2,500 shares of the company’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $61.21, for a total transaction of $153,025.00. Following the transaction, the insider directly owned 18,889 shares of the company’s stock, valued at $1,156,195.69. This represents a 11.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $57.95, for a total transaction of $463,600.00. Following the transaction, the chief executive officer directly owned 239,872 shares in the company, valued at approximately $13,900,582.40. This trade represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,445 shares of company stock worth $2,168,537. Company insiders own 0.54% of the company’s stock.

Webster Financial Stock Performance

NYSE:WBS opened at $61.46 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.47. Webster Financial Corporation has a fifty-two week low of $39.43 and a fifty-two week high of $63.99. The stock has a market cap of $10.21 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 0.55 and a beta of 1.05. The firm’s fifty day simple moving average is $59.71 and its 200-day simple moving average is $54.63.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.09. Webster Financial had a net margin of 20.06% and a return on equity of 10.84%. The business had revenue of $715.80 million for the quarter, compared to analysts’ expectations of $716.59 million. During the same period in the prior year, the company posted $1.26 EPS. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. Analysts expect that Webster Financial Corporation will post 5.88 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Monday, August 11th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.6%. Webster Financial’s dividend payout ratio is 32.45%.

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.