Leeward Investments LLC MA Trims Stock Position in Webster Financial Co. (NYSE:WBS)

Leeward Investments LLC MA decreased its position in shares of Webster Financial Co. (NYSE:WBS) by 20.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 148,670 shares of the financial services provider’s stock after selling 38,518 shares during the quarter. Leeward Investments LLC MA’s holdings in Webster Financial were worth $6,930,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. M&G PLC grew its stake in Webster Financial by 9.4% during the 3rd quarter. M&G PLC now owns 207,297 shares of the financial services provider’s stock worth $9,743,000 after buying an additional 17,746 shares during the last quarter. Forum Financial Management LP purchased a new position in shares of Webster Financial during the third quarter worth approximately $209,000. Janney Montgomery Scott LLC increased its holdings in shares of Webster Financial by 5.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 36,378 shares of the financial services provider’s stock valued at $1,696,000 after acquiring an additional 1,736 shares during the period. Creative Financial Designs Inc. ADV raised its position in Webster Financial by 8.5% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 3,976 shares of the financial services provider’s stock valued at $185,000 after purchasing an additional 311 shares during the last quarter. Finally, Hartford Financial Management Inc. boosted its stake in Webster Financial by 38.8% during the 3rd quarter. Hartford Financial Management Inc. now owns 2,231 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 624 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 $57.68 on Friday. The firm’s fifty day simple moving average is $48.16 and its 200-day simple moving average is $45.89. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. The stock has a market cap of $9.89 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 0.89 and a beta of 1.27. Webster Financial Co. has a fifty-two week low of $38.54 and a fifty-two week high of $60.13.

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 for the quarter, compared to analyst estimates of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same quarter in the previous year, the business posted $1.55 earnings per share. Analysts expect that Webster Financial Co. will post 5.24 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

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 dividend yield of 2.77%. The ex-dividend date is Friday, November 1st. Webster Financial’s dividend payout ratio (DPR) is presently 36.28%.

Insider Activity

In related news, Director Mark Pettie sold 4,500 shares of Webster Financial stock in a transaction that occurred 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Webster Financial news, Director Mark Pettie sold 4,500 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $51.14, for a total value of $230,130.00. Following the transaction, the director now directly owns 32,780 shares in the company, valued at approximately $1,676,369.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Bley sold 3,463 shares of Webster Financial stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $52.10, for a total transaction of $180,422.30. Following the sale, the insider now owns 19,529 shares of the company’s stock, valued at approximately $1,017,460.90. This trade represents a 0.00 % 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 ninety days. 0.88% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on WBS shares. Stephens set a $58.00 price objective on shares of Webster Financial in a research note on Thursday, October 17th. Wells Fargo & Company upped their price objective on Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Morgan Stanley cut their price target on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday, September 30th. Finally, Wedbush lifted their price objective on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Webster Financial has a consensus rating of “Moderate Buy” and a consensus price target of $57.85.

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.