Federated Hermes Inc. Sells 538 Shares of Webster Financial Co. (NYSE:WBS)

Federated Hermes Inc. trimmed its position in Webster Financial Co. (NYSE:WBS) by 2.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 20,116 shares of the financial services provider’s stock after selling 538 shares during the period. Federated Hermes Inc.’s holdings in Webster Financial were worth $1,111,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its stake in shares of Webster Financial by 6.8% during the 3rd 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. Quantinno Capital Management LP increased its holdings in Webster Financial by 63.7% during the third quarter. Quantinno Capital Management LP now owns 8,884 shares of the financial services provider’s stock worth $414,000 after buying an additional 3,456 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Webster Financial by 2.7% in the third quarter. Public Employees Retirement System of Ohio now owns 68,552 shares of the financial services provider’s stock worth $3,195,000 after acquiring an additional 1,784 shares during the period. Barclays PLC boosted its stake in Webster Financial by 36.4% in the third quarter. Barclays PLC now owns 297,834 shares of the financial services provider’s stock valued at $13,883,000 after acquiring an additional 79,556 shares during the last quarter. Finally, M&T Bank Corp grew its position in shares of Webster Financial by 6.6% during the 3rd quarter. M&T Bank Corp now owns 6,155 shares of the financial services provider’s stock valued at $287,000 after acquiring an additional 383 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Performance

NYSE WBS opened at $43.41 on Tuesday. The company’s 50 day simple moving average is $51.99 and its two-hundred day simple moving average is $54.42. The stock has a market capitalization of $7.44 billion, a PE ratio of 9.93, a P/E/G ratio of 1.02 and a beta of 1.05. 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.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data 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 company had revenue of $661.00 million during the quarter, compared to analyst estimates of $687.53 million. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. During the same quarter last year, the company earned $1.46 earnings per share. Analysts predict that Webster Financial Co. will post 5.88 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.69%. The ex-dividend date was Monday, February 10th. Webster Financial’s dividend payout ratio (DPR) is 36.61%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Morgan Stanley lowered their price target on shares of Webster Financial from $75.00 to $66.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada upped their price target on Webster Financial from $66.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Raymond James decreased their price objective on Webster Financial from $65.00 to $58.00 and set an “outperform” rating for the company in a report on Wednesday, April 2nd. Wells Fargo & Company dropped their price objective on shares of Webster Financial from $75.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.92.

Insider Activity at Webster Financial

In other news, Director Laurence C. Morse sold 13,217 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total transaction of $780,728.19. Following the transaction, the director now directly owns 18,808 shares in the company, valued at approximately $1,110,988.56. This represents a 41.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.43, for a total value of $459,440.00. Following the completion of the sale, the chief executive officer now owns 210,051 shares of the company’s stock, valued at $12,063,228.93. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.

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.