Amalgamated Bank trimmed its stake in Webster Financial Co. (NYSE:WBS - Free Report) by 23.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,778 shares of the financial services provider's stock after selling 25,553 shares during the quarter. Amalgamated Bank's holdings in Webster Financial were worth $3,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in WBS. Vanguard Group Inc. lifted its position in Webster Financial by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 17,926,270 shares of the financial services provider's stock worth $910,117,000 after buying an additional 54,841 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Webster Financial by 1.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,237,482 shares of the financial services provider's stock valued at $316,678,000 after purchasing an additional 95,780 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Webster Financial by 28.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider's stock worth $240,687,000 after purchasing an additional 1,206,575 shares during the last quarter. Earnest Partners LLC raised its stake in shares of Webster Financial by 0.4% during the 2nd quarter. Earnest Partners LLC now owns 3,086,111 shares of the financial services provider's stock worth $134,524,000 after purchasing an additional 13,487 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Webster Financial by 12.9% during the 2nd quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider's stock valued at $115,096,000 after buying an additional 301,935 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently weighed in on WBS. JPMorgan Chase & Co. cut their price objective on shares of Webster Financial from $58.00 to $55.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 9th. Stephens set a $58.00 price objective on shares of Webster Financial in a report on Thursday, October 17th. Barclays raised their target price on Webster Financial from $60.00 to $63.00 and gave the company an "overweight" rating in a report on Friday, October 18th. Morgan Stanley lowered their price objective on Webster Financial from $57.00 to $54.00 and set an "equal weight" rating on the stock in a report on Monday, September 30th. Finally, Royal Bank of Canada raised their price objective on Webster Financial from $57.00 to $62.00 and gave the company an "outperform" rating in a research note on Friday, October 18th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $57.85.
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In related news, CAO Albert Jen-Wen Wang sold 4,000 shares of the company's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $52.43, for a total value of $209,720.00. Following the sale, the chief accounting officer now owns 14,273 shares of the company's stock, valued at $748,333.39. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Webster Financial news, Director Mark Pettie sold 4,500 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total transaction of $230,130.00. Following the completion of the transaction, the director now directly owns 32,780 shares in the company, valued at $1,676,369.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of the business's stock in a transaction on Monday, October 21st. The shares were sold at an average price of $52.43, for a total transaction of $209,720.00. Following the completion of the sale, the chief accounting officer now owns 14,273 shares in the company, valued at $748,333.39. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,100 shares of company stock worth $1,202,237. 0.88% of the stock is currently owned by corporate insiders.
NYSE:WBS opened at $57.71 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86. The firm's 50-day moving average is $48.36 and its 200-day moving average is $45.96. Webster Financial Co. has a 52-week low of $38.54 and a 52-week high of $60.13. The company has a market cap of $9.89 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 0.89 and a beta of 1.27.
Webster Financial (NYSE:WBS - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.01). The firm had revenue of $647.62 million during the quarter, compared to the consensus estimate of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same quarter in the prior year, the business posted $1.55 EPS. Equities research analysts anticipate that Webster Financial Co. will post 5.24 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Friday, November 1st. Webster Financial's dividend payout ratio (DPR) is presently 36.28%.
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.
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