Oak Thistle LLC Sells 2,284 Shares of Webster Financial Co. (NYSE:WBS)

Oak Thistle LLC trimmed its holdings in shares of Webster Financial Co. (NYSE:WBS) by 23.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,579 shares of the financial services provider’s stock after selling 2,284 shares during the quarter. Oak Thistle LLC’s holdings in Webster Financial were worth $419,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WBS. V Square Quantitative Management LLC purchased a new position in Webster Financial during the third quarter valued at $27,000. UMB Bank n.a. raised its stake in shares of Webster Financial by 340.7% in the third quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock worth $28,000 after buying an additional 460 shares during the period. Brooklyn Investment Group purchased a new position in shares of Webster Financial during the 3rd quarter valued at about $53,000. NBC Securities Inc. grew its stake in shares of Webster Financial by 117.9% during the 3rd quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 686 shares during the period. Finally, First Horizon Advisors Inc. increased its holdings in Webster Financial by 45.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,398 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 440 shares in the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Lauren States sold 1,650 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $60.60, for a total transaction of $99,990.00. Following the transaction, the director now directly owns 15,023 shares in the company, valued at approximately $910,393.80. This represents a 9.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel Bley sold 500 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $61.91, for a total transaction of $30,955.00. Following the completion of the sale, the insider now directly owns 17,279 shares of the company’s stock, valued at approximately $1,069,742.89. The trade was a 2.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,250 shares of company stock valued at $2,105,322. 0.72% of the stock is currently owned by insiders.

Webster Financial Price Performance

Webster Financial stock opened at $57.91 on Friday. Webster Financial Co. has a 52-week low of $39.33 and a 52-week high of $63.99. The company has a market cap of $9.93 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 0.99 and a beta of 1.30. The firm’s fifty day moving average is $58.07 and its 200 day moving average is $50.85. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results 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). Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. The business had revenue of $647.62 million during the quarter, compared to the consensus estimate of $677.72 million. During the same period in the previous year, the business posted $1.55 EPS. Sell-side analysts forecast that Webster Financial Co. will post 5.24 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial’s dividend payout ratio (DPR) is 36.28%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WBS shares. Wells Fargo & Company upgraded shares of Webster Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $75.00 in a research report on Monday, January 6th. Wedbush upped their target price on shares of Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. UBS Group started coverage on Webster Financial in a report on Tuesday, December 17th. They set a “buy” rating and a $76.00 price target on the stock. Stephens set a $58.00 price objective on Webster Financial in a research note on Thursday, October 17th. Finally, StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a research note on Saturday, January 11th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.58.

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.