Webster Financial Co. (NYSE:WBS) Shares Sold by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC decreased its position in shares of Webster Financial Co. (NYSE:WBS) by 5.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 6,985 shares of the financial services provider’s stock after selling 374 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Webster Financial were worth $355,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its holdings in shares of Webster Financial by 6.1% in the fourth quarter. Fifth Third Bancorp now owns 36,119 shares of the financial services provider’s stock valued at $1,833,000 after purchasing an additional 2,067 shares during the period. Oak Thistle LLC acquired a new position in shares of Webster Financial in the fourth quarter valued at approximately $611,000. Trust Point Inc. acquired a new position in shares of Webster Financial in the fourth quarter valued at approximately $219,000. Arizona State Retirement System increased its holdings in shares of Webster Financial by 1.6% in the fourth quarter. Arizona State Retirement System now owns 48,433 shares of the financial services provider’s stock valued at $2,458,000 after purchasing an additional 760 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of Webster Financial in the fourth quarter valued at approximately $4,438,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Stock Performance

NYSE WBS opened at $49.62 on Thursday. Webster Financial Co. has a fifty-two week low of $36.36 and a fifty-two week high of $53.39. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 0.73 and a beta of 1.30. The business has a fifty day moving average of $44.03 and a 200-day moving average of $46.40. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.44.

Webster Financial (NYSE:WBS) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.08). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $671.91 million. Webster Financial had a net margin of 19.81% and a return on equity of 11.81%. During the same quarter in the previous year, the company posted $1.50 earnings per share. As a group, analysts predict that Webster Financial Co. will post 5.29 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Monday, July 29th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, July 29th. This represents a $1.60 annualized dividend and a yield of 3.22%. Webster Financial’s payout ratio is currently 32.79%.

Insider Activity at Webster Financial

In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $49.07, for a total transaction of $245,350.00. Following the completion of the sale, the insider now directly owns 45,157 shares in the company, valued at $2,215,853.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $49.07, for a total transaction of $245,350.00. Following the completion of the sale, the insider now directly owns 45,157 shares in the company, valued at $2,215,853.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason A. Soto sold 1,650 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total value of $76,428.00. Following the sale, the insider now owns 20,539 shares of the company’s stock, valued at $951,366.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,650 shares of company stock worth $706,098. 0.88% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WBS. JPMorgan Chase & Co. decreased their price target on Webster Financial from $63.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Citigroup decreased their price target on Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Jefferies Financial Group decreased their target price on Webster Financial from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods decreased their target price on Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 9th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.73.

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.