Victory Capital Management Inc. Sells 547 Shares of Webster Financial Co. (NYSE:WBS)

Victory Capital Management Inc. cut its holdings in shares of Webster Financial Co. (NYSE:WBS) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,372 shares of the financial services provider’s stock after selling 547 shares during the quarter. Victory Capital Management Inc.’s holdings in Webster Financial were worth $1,788,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WBS. Hennion & Walsh Asset Management Inc. bought a new position in Webster Financial during the 4th quarter worth $269,000. Park Avenue Securities LLC acquired a new stake in shares of Webster Financial during the 4th quarter worth $246,000. HighTower Advisors LLC increased its position in shares of Webster Financial by 6.8% in the third quarter. HighTower Advisors LLC now owns 31,978 shares of the financial services provider’s stock worth $1,488,000 after purchasing an additional 2,032 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Webster Financial by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,468,942 shares of the financial services provider’s stock valued at $68,467,000 after purchasing an additional 34,373 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Webster Financial by 8.5% during the third quarter. BNP Paribas Financial Markets now owns 89,202 shares of the financial services provider’s stock worth $4,158,000 after purchasing an additional 6,964 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on WBS. Barclays raised their target price on shares of Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Wells Fargo & Company raised shares of Webster Financial from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $75.00 in a research note on Monday, January 6th. UBS Group initiated coverage on Webster Financial in a research note on Tuesday, December 17th. They set a “buy” rating and a $76.00 target price for the company. Royal Bank of Canada lifted their price target on Webster Financial from $66.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Finally, Morgan Stanley dropped their price objective on Webster Financial from $75.00 to $66.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Webster Financial currently has a consensus rating of “Moderate Buy” and an average target price of $63.08.

Webster Financial Stock Performance

Webster Financial stock opened at $50.88 on Tuesday. The business has a 50 day moving average of $56.55 and a 200-day moving average of $54.17. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84. Webster Financial Co. has a 1 year low of $39.34 and a 1 year high of $63.99. The company has a market capitalization of $8.72 billion, a P/E ratio of 11.64, a P/E/G ratio of 1.02 and a beta of 1.28.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.08. The firm had revenue of $661.00 million during the quarter, compared to analysts’ expectations of $687.53 million. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. During the same period in the prior year, the company posted $1.46 EPS. On average, equities research analysts predict that Webster Financial Co. will post 5.88 earnings per share for the current year.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.14%. The ex-dividend date was Monday, February 10th. Webster Financial’s payout ratio is presently 36.61%.

Insiders Place Their Bets

In related news, Director Laurence C. Morse sold 13,217 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $59.07, for a total value of $780,728.19. Following the transaction, the director now owns 18,808 shares of the company’s stock, valued at approximately $1,110,988.56. This trade represents a 41.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.43, for a total value of $459,440.00. Following the transaction, the chief executive officer now owns 210,051 shares of the company’s stock, valued at $12,063,228.93. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.88% of the company’s stock.

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.