Mutual of America Capital Management LLC Sells 4,308 Shares of Webster Financial Co. (NYSE:WBS)

Mutual of America Capital Management LLC lowered its position in Webster Financial Co. (NYSE:WBS) by 3.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,189 shares of the financial services provider’s stock after selling 4,308 shares during the quarter. Mutual of America Capital Management LLC owned 0.06% of Webster Financial worth $4,760,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. CIBC Asset Management Inc grew its position in Webster Financial by 5.4% during the 2nd 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 raised its holdings in shares of Webster Financial by 29.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock valued at $57,000 after buying an additional 255 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of Webster Financial by 6.5% in the first quarter. William Blair Investment Management LLC now owns 4,207 shares of the financial services provider’s stock worth $214,000 after acquiring an additional 255 shares during the last quarter. US Bancorp DE lifted its position in shares of Webster Financial by 3.6% during the first quarter. US Bancorp DE now owns 7,487 shares of the financial services provider’s stock worth $380,000 after purchasing an additional 260 shares in the last quarter. Finally, Wedmont Private Capital grew its stake in shares of Webster Financial by 6.5% during the first quarter. Wedmont Private Capital now owns 6,054 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 367 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WBS shares. Morgan Stanley lowered Webster Financial from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $54.00 to $57.00 in a research note on Monday, August 5th. Royal Bank of Canada lowered their target price on shares of Webster Financial from $54.00 to $51.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Jefferies Financial Group cut their price target on Webster Financial from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods decreased their price objective on Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, July 9th. Finally, Barclays cut their target price on Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.36.

Insiders Place Their Bets

In other news, insider Charles L. Wilkins sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were 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 of the company’s stock, valued at approximately $2,215,853.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Charles L. Wilkins sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $49.07, for a total value of $245,350.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason A. Soto sold 1,650 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total value of $76,428.00. Following the sale, the insider now owns 20,539 shares in the company, valued at approximately $951,366.48. The disclosure for this sale can be found here. Insiders sold a total of 14,650 shares of company stock valued at $706,098 in the last quarter. 0.88% of the stock is currently owned by insiders.

Webster Financial Stock Down 0.7 %

Webster Financial stock opened at $48.03 on Friday. Webster Financial Co. has a twelve month low of $36.36 and a twelve month 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 50 day moving average of $46.12 and a 200-day moving average of $45.65. The stock has a market capitalization of $8.24 billion, a PE ratio of 9.84, a price-to-earnings-growth ratio of 0.67 and a beta of 1.28.

Webster Financial (NYSE:WBS) last released its 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). The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $671.91 million. Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. During the same quarter last year, the company posted $1.50 EPS. On average, equities research analysts anticipate that Webster Financial Co. will post 5.27 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Monday, July 29th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.33%. The ex-dividend date was Monday, July 29th. Webster Financial’s payout ratio is 32.79%.

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.