Goldman Sachs Group Inc. Decreases Stake in Webster Financial Co. (NYSE:WBS)

Goldman Sachs Group Inc. lowered its holdings in Webster Financial Co. (NYSE:WBS) by 31.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 498,938 shares of the financial services provider’s stock after selling 224,745 shares during the quarter. Goldman Sachs Group Inc. owned 0.29% of Webster Financial worth $25,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of WBS. Norges Bank bought a new stake in shares of Webster Financial in the fourth quarter worth $97,217,000. American Century Companies Inc. grew its holdings in shares of Webster Financial by 1,773.9% in the third quarter. American Century Companies Inc. now owns 1,324,457 shares of the financial services provider’s stock worth $53,389,000 after acquiring an additional 1,253,778 shares during the period. Azora Capital LP grew its holdings in shares of Webster Financial by 146.3% in the fourth quarter. Azora Capital LP now owns 1,477,198 shares of the financial services provider’s stock worth $74,983,000 after acquiring an additional 877,540 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Webster Financial by 12.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,916,013 shares of the financial services provider’s stock worth $198,785,000 after acquiring an additional 430,331 shares during the period. Finally, Sei Investments Co. grew its holdings in shares of Webster Financial by 39.5% in the fourth quarter. Sei Investments Co. now owns 1,477,642 shares of the financial services provider’s stock worth $75,006,000 after acquiring an additional 418,716 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WBS shares. Raymond James reissued an “outperform” rating and set a $60.00 price target on shares of Webster Financial in a report on Tuesday, March 26th. Barclays cut their price target on Webster Financial from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday. Royal Bank of Canada cut their price target on Webster Financial from $57.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. JPMorgan Chase & Co. cut their price target on Webster Financial from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Finally, Jefferies Financial Group cut their price target on Webster Financial from $65.00 to $56.00 and set a “buy” rating for the company in a report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.58.

Insider Activity

In other news, insider Daniel Bley sold 2,280 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $44.80, for a total transaction of $102,144.00. Following the transaction, the insider now owns 28,693 shares of the company’s stock, valued at $1,285,446.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.88% of the company’s stock.

Webster Financial Price Performance

NYSE:WBS opened at $42.13 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $7.22 billion, a P/E ratio of 8.63, a P/E/G ratio of 0.50 and a beta of 1.31. Webster Financial Co. has a 12 month low of $36.36 and a 12 month high of $53.39. The business’s 50-day moving average is $43.93 and its 200 day moving average is $47.26.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The company had revenue of $667.10 million for the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter last year, the company earned $1.49 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts forecast that Webster Financial Co. will post 5.57 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.80%. Webster Financial’s dividend payout ratio is 32.79%.

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.