PFG Investments LLC Sells 559 Shares of Webster Financial Corporation (NYSE:WBS)

PFG Investments LLC cut its stake in Webster Financial Corporation (NYSE:WBS) by 12.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,961 shares of the financial services provider’s stock after selling 559 shares during the quarter. PFG Investments LLC’s holdings in Webster Financial were worth $204,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. lifted its position in Webster Financial by 22.4% in the first quarter. Blue Trust Inc. now owns 8,090 shares of the financial services provider’s stock worth $417,000 after buying an additional 1,480 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Webster Financial by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 20,084 shares of the financial services provider’s stock worth $1,035,000 after purchasing an additional 545 shares during the last quarter. Cardinal Capital Management lifted its position in shares of Webster Financial by 3.4% during the first quarter. Cardinal Capital Management now owns 51,673 shares of the financial services provider’s stock worth $2,664,000 after purchasing an additional 1,690 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Webster Financial by 13.8% during the first quarter. Janney Montgomery Scott LLC now owns 41,994 shares of the financial services provider’s stock worth $2,165,000 after purchasing an additional 5,078 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Webster Financial by 42.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,517 shares of the financial services provider’s stock worth $800,000 after purchasing an additional 4,653 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Webster Financial news, insider Daniel Bley sold 1,800 shares of the business’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $47.84, for a total value of $86,112.00. Following the completion of the transaction, the insider now directly owns 21,517 shares in the company, valued at approximately $1,029,373.28. The trade was a 7.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Charles L. Wilkins sold 5,000 shares of the business’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $53.25, for a total transaction of $266,250.00. Following the completion of the transaction, the insider now owns 31,534 shares of the company’s stock, valued at $1,679,185.50. This represents a 13.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,000 shares of company stock worth $934,210. 0.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on WBS. Barclays decreased their target price on Webster Financial from $80.00 to $72.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Royal Bank Of Canada set a $60.00 target price on Webster Financial and gave the stock an “outperform” rating in a research report on Friday, April 25th. Wells Fargo & Company decreased their target price on Webster Financial from $75.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Jefferies Financial Group began coverage on Webster Financial in a research report on Wednesday, May 21st. They set a “buy” rating and a $65.00 target price for the company. Finally, Keefe, Bruyette & Woods decreased their target price on Webster Financial from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Webster Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.75.

Webster Financial Stock Performance

Shares of Webster Financial stock opened at $53.08 on Thursday. The company has a market capitalization of $8.93 billion, a PE ratio of 11.95, a P/E/G ratio of 0.70 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50-day simple moving average of $50.78 and a two-hundred day simple moving average of $53.06. Webster Financial Corporation has a one year low of $39.43 and a one year high of $63.99.

Webster Financial (NYSE:WBS) last announced its earnings results on Thursday, April 24th. The financial services provider reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.08). The firm had revenue of $704.80 million during the quarter, compared to the consensus estimate of $708.46 million. Webster Financial had a return on equity of 10.57% and a net margin of 18.58%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.35 earnings per share. Research analysts expect that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial announced that its Board of Directors has authorized a share buyback program on Thursday, May 1st that allows the company to buyback $700.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.60 dividend on an annualized basis and a yield of 3.01%. Webster Financial’s dividend payout ratio is presently 36.04%.

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.