BCGM Wealth Management LLC Lowers Stock Holdings in Webster Financial Co. (NYSE:WBS)

BCGM Wealth Management LLC reduced its stake in Webster Financial Co. (NYSE:WBS) by 5.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,093 shares of the financial services provider’s stock after selling 875 shares during the quarter. BCGM Wealth Management LLC’s holdings in Webster Financial were worth $750,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. US Bancorp DE grew its stake in shares of Webster Financial by 3.6% in the first quarter. US Bancorp DE now owns 7,487 shares of the financial services provider’s stock worth $380,000 after acquiring an additional 260 shares during the last quarter. Bleakley Financial Group LLC grew its position in Webster Financial by 9.6% during the 1st quarter. Bleakley Financial Group LLC now owns 5,987 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 524 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Webster Financial by 3.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 154,856 shares of the financial services provider’s stock valued at $7,862,000 after purchasing an additional 5,499 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in Webster Financial by 19.7% during the 1st quarter. Orion Portfolio Solutions LLC now owns 23,063 shares of the financial services provider’s stock valued at $1,171,000 after purchasing an additional 3,801 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in Webster Financial in the first quarter worth about $3,529,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Barclays upped their price target on Webster Financial from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Wedbush upped their target price on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. reduced their price target on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, Royal Bank of Canada raised their target price on shares of Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.85.

Insider Transactions at Webster Financial

In related news, Director Mark Pettie sold 4,500 shares of Webster Financial stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $51.14, for a total value of $230,130.00. Following the sale, the director now owns 32,780 shares of the company’s stock, valued at approximately $1,676,369.20. This trade represents a 12.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Javier L. Evans sold 10,137 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $57.41, for a total transaction of $581,965.17. Following the transaction, the insider now directly owns 22,657 shares in the company, valued at approximately $1,300,738.37. The trade was a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,100 shares of company stock worth $1,202,237 over the last 90 days. 0.88% of the stock is currently owned by company insiders.

Webster Financial Trading Up 0.6 %

Shares of NYSE:WBS opened at $60.07 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $10.30 billion, a P/E ratio of 13.62, a P/E/G ratio of 0.89 and a beta of 1.27. The business’s 50-day moving average is $49.79 and its 200 day moving average is $46.50. Webster Financial Co. has a 1 year low of $39.33 and a 1 year high of $61.12.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). The company had revenue of $647.62 million during the quarter, compared to analysts’ expectations of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same period in the prior year, the business posted $1.55 EPS. On average, research analysts predict that Webster Financial Co. will post 5.24 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial’s payout ratio is 36.28%.

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.