Entropy Technologies LP Sells 17,557 Shares of Webster Financial Co. (NYSE:WBS)

Entropy Technologies LP reduced its position in shares of Webster Financial Co. (NYSE:WBS) by 44.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,600 shares of the financial services provider’s stock after selling 17,557 shares during the quarter. Entropy Technologies LP’s holdings in Webster Financial were worth $1,007,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC raised its stake in shares of Webster Financial by 1,859.1% during the second quarter. Sound Income Strategies LLC now owns 15,692 shares of the financial services provider’s stock worth $684,000 after buying an additional 14,891 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Webster Financial during the 1st quarter valued at $3,529,000. Boston Partners lifted its stake in shares of Webster Financial by 44.2% in the 1st quarter. Boston Partners now owns 264,937 shares of the financial services provider’s stock valued at $13,439,000 after purchasing an additional 81,201 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of Webster Financial by 13.5% in the 2nd quarter. Texas Permanent School Fund Corp now owns 170,852 shares of the financial services provider’s stock worth $7,447,000 after purchasing an additional 20,300 shares during the last quarter. Finally, Capital Group Private Client Services Inc. grew its stake in shares of Webster Financial by 18.3% during the first quarter. Capital Group Private Client Services Inc. now owns 106,042 shares of the financial services provider’s stock worth $5,384,000 after purchasing an additional 16,394 shares during the period. 85.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

WBS has been the topic of several analyst reports. StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Barclays lifted their price objective on shares of Webster Financial from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. lowered their target price 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. Wedbush lifted their price target on shares of Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Morgan Stanley lowered their price objective on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.85.

Insider Activity at Webster Financial

In other Webster Financial news, insider Javier L. Evans sold 10,137 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $57.41, for a total transaction of $581,965.17. Following the sale, the insider now directly owns 22,657 shares of the company’s stock, valued at $1,300,738.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Daniel Bley sold 3,463 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $1,017,460.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Javier L. Evans sold 10,137 shares of the firm’s 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 completion of the transaction, the insider now directly owns 22,657 shares of the company’s stock, valued at $1,300,738.37. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,100 shares of company stock valued at $1,202,237. Corporate insiders own 0.88% of the company’s stock.

Webster Financial Stock Performance

WBS opened at $59.84 on Thursday. The company has a market capitalization of $10.26 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 0.89 and a beta of 1.27. The business’s 50-day moving average price is $49.16 and its two-hundred day moving average price is $46.28. Webster Financial Co. has a 1 year low of $39.33 and a 1 year high of $61.12. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86.

Webster Financial (NYSE:WBS) last announced its 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). Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. The firm had revenue of $647.62 million during the quarter, compared to analyst estimates of $677.72 million. During the same period in the prior year, the business posted $1.55 EPS. Equities analysts expect that Webster Financial Co. will post 5.24 EPS for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.67%. 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.