Webster Financial Co. (NYSE:WBS) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its stake in Webster Financial Co. (NYSE:WBS) by 8.3% during the fourth quarter, Holdings Channel reports. The firm owned 135,035 shares of the financial services provider’s stock after selling 12,152 shares during the period. Truist Financial Corp’s holdings in Webster Financial were worth $6,854,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Commonwealth Equity Services LLC grew its position in Webster Financial by 4.2% during the third quarter. Commonwealth Equity Services LLC now owns 86,977 shares of the financial services provider’s stock valued at $3,506,000 after acquiring an additional 3,505 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Webster Financial by 12.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 7,325 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 792 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Webster Financial by 31.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 24,979 shares of the financial services provider’s stock valued at $1,007,000 after buying an additional 5,915 shares during the period. Bank of New York Mellon Corp raised its holdings in Webster Financial by 1.8% in the third quarter. Bank of New York Mellon Corp now owns 2,732,942 shares of the financial services provider’s stock valued at $110,165,000 after buying an additional 48,445 shares during the period. Finally, Advisor Partners II LLC lifted its position in Webster Financial by 18.5% during the third quarter. Advisor Partners II LLC now owns 7,682 shares of the financial services provider’s stock valued at $310,000 after buying an additional 1,197 shares in the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WBS has been the subject of several recent research reports. Morgan Stanley increased their price objective on shares of Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Citigroup reduced their price objective 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. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. reduced their price target on Webster Financial from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Finally, Bank of America started coverage on shares of Webster Financial in a research report on Thursday, January 11th. They issued a “buy” rating and a $60.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Webster Financial presently has an average rating of “Moderate Buy” and a consensus target price of $56.23.

Insider Transactions at Webster Financial

In related news, insider Daniel Bley sold 2,280 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $44.80, for a total transaction of $102,144.00. Following the sale, the insider now directly owns 28,693 shares of the company’s stock, valued at approximately $1,285,446.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.88% of the company’s stock.

Webster Financial Stock Up 1.2 %

Shares of NYSE:WBS opened at $44.92 on Friday. Webster Financial Co. has a 12-month low of $31.03 and a 12-month high of $53.39. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.54. The firm has a market cap of $7.72 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 0.40 and a beta of 1.35. The company has a fifty day simple moving average of $47.62 and a 200 day simple moving average of $46.66.

Webster Financial (NYSE:WBS) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The company had revenue of $667.10 million during the quarter, compared to the consensus estimate of $680.72 million. During the same period in the previous year, the firm posted $1.49 EPS. Webster Financial’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts anticipate that Webster Financial Co. will post 5.62 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Friday, May 3rd. Webster Financial’s dividend payout ratio is presently 32.79%.

Webster Financial 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.