Victory Capital Management Inc. Decreases Stake in Webster Financial Co. (NYSE:WBS)

Victory Capital Management Inc. lowered its position in shares of Webster Financial Co. (NYSE:WBS) by 1.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor 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 filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WBS. Charles Schwab Investment Management Inc. lifted its holdings in Webster Financial by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,507,655 shares of the financial services provider’s stock worth $83,253,000 after acquiring an additional 38,713 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Webster Financial by 47.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,102 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 674 shares during the last quarter. US Bancorp DE raised its stake in shares of Webster Financial by 2.8% during the 4th quarter. US Bancorp DE now owns 7,143 shares of the financial services provider’s stock worth $394,000 after purchasing an additional 192 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Webster Financial by 19.7% in the 4th quarter. Fisher Asset Management LLC now owns 816,179 shares of the financial services provider’s stock worth $45,069,000 after buying an additional 134,281 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Webster Financial during the fourth quarter valued at about $3,549,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a research report on Saturday, January 11th. Royal Bank of Canada lifted their price target on shares of Webster Financial from $66.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. UBS Group began coverage on Webster Financial in a research note on Tuesday, December 17th. They issued a “buy” rating and a $76.00 price objective on the stock. Wells Fargo & Company raised Webster Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $75.00 in a research report on Monday, January 6th. Finally, Barclays upped their price target on Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $63.08.

Webster Financial Stock Performance

NYSE:WBS opened at $50.88 on Tuesday. The business’s fifty day moving average is $56.55 and its 200 day moving average is $54.17. The firm has a market cap of $8.72 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 1.02 and a beta of 1.28. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 0.84. Webster Financial Co. has a 52-week low of $39.34 and a 52-week high of $63.99.

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

Webster Financial Announces Dividend

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

Insider Buying and Selling at Webster Financial

In related news, Director Laurence C. Morse sold 13,217 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total value of $780,728.19. Following the sale, the director now owns 18,808 shares in the company, valued at approximately $1,110,988.56. This trade represents a 41.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was 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 approximately $12,063,228.93. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.