Bradley Foster & Sargent Inc. CT Sells 1,000 Shares of Webster Financial Co. (NYSE:WBS)

Bradley Foster & Sargent Inc. CT lowered its stake in Webster Financial Co. (NYSE:WBS) by 12.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,060 shares of the financial services provider’s stock after selling 1,000 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Webster Financial were worth $308,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WBS. CIBC Asset Management Inc grew its stake in shares of 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 acquiring an additional 248 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Webster Financial by 29.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 255 shares during the last quarter. William Blair Investment Management LLC increased its stake in Webster Financial by 6.5% during the 1st quarter. William Blair Investment Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $214,000 after purchasing an additional 255 shares in the last quarter. US Bancorp DE increased its stake in Webster Financial by 3.6% during the 1st quarter. US Bancorp DE now owns 7,487 shares of the financial services provider’s stock valued at $380,000 after purchasing an additional 260 shares in the last quarter. Finally, Wedmont Private Capital raised its holdings in Webster Financial by 6.5% in the first quarter. Wedmont Private Capital now owns 6,054 shares of the financial services provider’s stock worth $294,000 after buying an additional 367 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Up 3.4 %

NYSE WBS opened at $48.36 on Friday. Webster Financial Co. has a 52 week low of $36.36 and a 52 week high of $53.39. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $8.29 billion, a P/E ratio of 9.91, a price-to-earnings-growth ratio of 0.67 and a beta of 1.28. The stock’s 50-day moving average price is $46.06 and its 200-day moving average price is $45.65.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $671.91 million. During the same quarter in the previous year, the company posted $1.50 EPS. On average, equities research analysts predict that Webster Financial Co. will post 5.27 earnings per share for the current year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Monday, July 29th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Monday, July 29th. Webster Financial’s payout ratio is currently 32.79%.

Insider Transactions at Webster Financial

In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $49.07, for a total value of $245,350.00. Following the sale, the insider now owns 45,157 shares in the company, valued at approximately $2,215,853.99. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Charles L. Wilkins sold 5,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $49.07, for a total transaction of $245,350.00. Following the completion of the transaction, the insider now directly owns 45,157 shares in the company, valued at approximately $2,215,853.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $48.04, for a total transaction of $384,320.00. Following the completion of the sale, the chief executive officer now owns 237,049 shares in the company, valued at approximately $11,387,833.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,650 shares of company stock valued at $706,098. 0.88% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on WBS shares. Barclays cut their price target on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Keefe, Bruyette & Woods reduced their target price on Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, July 9th. JPMorgan Chase & Co. decreased their price target on Webster Financial from $63.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Morgan Stanley cut Webster Financial from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $54.00 to $57.00 in a research report on Monday, August 5th. Finally, Jefferies Financial Group decreased their target price on Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.36.

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.