Webster Financial Co. (NYSE:WBS) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in shares of Webster Financial Co. (NYSE:WBS) by 8.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,919 shares of the financial services provider’s stock after selling 2,999 shares during the period. Victory Capital Management Inc.’s holdings in Webster Financial were worth $1,534,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Assetmark Inc. boosted its holdings in shares of Webster Financial by 9.3% in the 3rd quarter. Assetmark Inc. now owns 2,611 shares of the financial services provider’s stock valued at $122,000 after buying an additional 222 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Webster Financial by 5.4% during the second quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 248 shares during the last quarter. Covestor Ltd increased its position in shares of Webster Financial by 17.0% during the third quarter. Covestor Ltd now owns 1,895 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 276 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in shares of Webster Financial by 8.5% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 3,976 shares of the financial services provider’s stock valued at $185,000 after purchasing an additional 311 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Webster Financial by 30.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,629 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 377 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WBS shares. Wedbush raised their price target on Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company increased their price target on shares of Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Morgan Stanley dropped their price objective on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, September 30th. JPMorgan Chase & Co. cut their price target on Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Finally, Royal Bank of Canada increased their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Webster Financial currently has an average rating of “Moderate Buy” and an average target price of $57.85.

Webster Financial Price Performance

Shares of WBS stock opened at $62.82 on Tuesday. The firm has a fifty day moving average of $51.76 and a two-hundred day moving average of $47.16. The firm has a market cap of $10.77 billion, a P/E ratio of 14.24, a P/E/G ratio of 0.91 and a beta of 1.27. Webster Financial Co. has a 1-year low of $39.33 and a 1-year high of $63.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86.

Webster Financial (NYSE:WBS) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The firm had revenue of $647.62 million during the quarter, compared to analyst estimates of $677.72 million. During the same quarter in the previous year, the business posted $1.55 EPS. As a group, research analysts anticipate that Webster Financial Co. will post 5.24 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were given a dividend of $0.40 per share. The ex-dividend date was Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a yield of 2.55%. Webster Financial’s dividend payout ratio is currently 36.28%.

Insider Transactions at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 3,463 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $52.10, for a total value of $180,422.30. Following the completion of the sale, the insider now directly owns 19,529 shares of the company’s stock, valued at approximately $1,017,460.90. This represents a 15.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $59.33, for a total transaction of $474,640.00. Following the sale, the chief executive officer now directly owns 218,924 shares of the company’s stock, valued at approximately $12,988,760.92. This represents a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,750 shares of company stock worth $2,074,367. Insiders own 0.72% of the company’s stock.

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.