Boston Partners Reduces Stock Holdings in Webster Financial Corporation $WBS

Boston Partners lessened its stake in shares of Webster Financial Corporation (NYSE:WBS) by 29.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 473,149 shares of the financial services provider’s stock after selling 200,275 shares during the quarter. Boston Partners’ holdings in Webster Financial were worth $25,836,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of WBS. Amundi increased its holdings in shares of Webster Financial by 699.7% in the first 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 period. LPL Financial LLC grew 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 buying an additional 6,948 shares during the last quarter. Great Lakes Advisors LLC increased its stake in Webster Financial by 3,066.1% in the 1st quarter. Great Lakes Advisors LLC now owns 126,012 shares of the financial services provider’s stock valued at $6,496,000 after buying an additional 122,032 shares during the period. Hunter Perkins Capital Management LLC raised its position in Webster Financial by 15.9% during the 2nd quarter. Hunter Perkins Capital Management LLC now owns 118,256 shares of the financial services provider’s stock worth $6,457,000 after buying an additional 16,211 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in shares of Webster Financial by 43.7% in the 1st quarter. Allworth Financial LP now owns 941 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 286 shares during the period. 85.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Webster Financial news, CAO Elzbieta Cieslik sold 2,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $61.58, for a total transaction of $123,160.00. Following the sale, the chief accounting officer owned 14,894 shares in the company, valued at approximately $917,172.52. This represents a 11.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Mi Griffin sold 807 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $62.14, for a total transaction of $50,146.98. Following the sale, the insider directly owned 12,556 shares in the company, valued at $780,229.84. This represents a 6.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 3,807 shares of company stock worth $234,927 in the last ninety days. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Cantor Fitzgerald started coverage on shares of Webster Financial in a research note on Wednesday, September 10th. They set an “overweight” rating and a $70.00 price target on the stock. Keefe, Bruyette & Woods increased their target price on Webster Financial from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday, July 18th. Morgan Stanley lifted their price target on Webster Financial from $64.00 to $77.00 and gave the company an “underperform” rating in a research note on Monday, September 29th. JPMorgan Chase & Co. dropped their price objective on Webster Financial from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. Finally, TD Cowen started coverage on Webster Financial in a report on Thursday, September 25th. They issued a “buy” rating and a $78.00 target price for the company. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.85.

Webster Financial Stock Up 0.6%

WBS opened at $57.57 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 0.50 and a beta of 1.13. Webster Financial Corporation has a one year low of $39.43 and a one year high of $63.99. The business’s fifty day moving average is $58.66 and its two-hundred day moving average is $56.57.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Friday, October 17th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.02. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.The business had revenue of $732.60 million during the quarter, compared to the consensus estimate of $725.22 million. During the same quarter in the previous year, the company posted $1.34 EPS. Analysts anticipate that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, November 10th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, November 10th. This represents a $1.60 dividend on an annualized basis and a yield of 2.8%. Webster Financial’s payout ratio is presently 29.80%.

Webster Financial 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.