Greenleaf Trust Trims Position in Webster Financial Corporation $WBS

Greenleaf Trust reduced its position in Webster Financial Corporation (NYSE:WBS) by 6.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,254 shares of the financial services provider’s stock after selling 377 shares during the period. Greenleaf Trust’s holdings in Webster Financial were worth $287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WBS. Wealth Enhancement Advisory Services LLC raised its position in shares of Webster Financial by 15.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 10,864 shares of the financial services provider’s stock worth $600,000 after acquiring an additional 1,459 shares during the period. GAMMA Investing LLC boosted its stake in shares of Webster Financial by 7,543.0% during the 1st quarter. GAMMA Investing LLC now owns 156,300 shares of the financial services provider’s stock worth $8,057,000 after acquiring an additional 154,255 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Webster Financial by 78.7% during the 1st quarter. Parallel Advisors LLC now owns 1,117 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 492 shares in the last quarter. NBC Securities Inc. boosted its stake in shares of Webster Financial by 228,800.0% during the 1st quarter. NBC Securities Inc. now owns 2,289 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 2,288 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new stake in shares of Webster Financial during the 1st quarter worth about $344,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Trading Up 1.0%

Shares of WBS opened at $59.54 on Friday. Webster Financial Corporation has a 52-week low of $39.43 and a 52-week high of $63.99. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.47. The firm’s fifty day moving average is $59.67 and its two-hundred day moving average is $54.54. The stock has a market cap of $9.89 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 0.55 and a beta of 1.05.

Webster Financial (NYSE:WBS) last announced its earnings results on Thursday, July 17th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.09. Webster Financial had a net margin of 20.06% and a return on equity of 10.84%. The company had revenue of $715.80 million for the quarter, compared to analysts’ expectations of $716.59 million. During the same quarter in the previous year, the company posted $1.26 EPS. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. Research analysts forecast that Webster Financial Corporation will post 5.88 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Monday, August 11th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, August 11th. Webster Financial’s payout ratio is 32.45%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on WBS shares. TD Cowen started coverage on shares of Webster Financial in a research note on Thursday, September 25th. They set a “buy” rating and a $78.00 target price on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Webster Financial from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Friday, July 18th. Wells Fargo & Company boosted their price target on shares of Webster Financial from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Citigroup boosted their price target on shares of Webster Financial from $65.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Finally, Cowen started coverage on shares of Webster Financial in a report on Wednesday, September 24th. They issued a “buy” rating for the company. Fourteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.67.

Insider Activity at Webster Financial

In other news, insider James Mi Griffin sold 807 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $62.14, for a total transaction of $50,146.98. Following the transaction, the insider owned 12,556 shares of the company’s stock, valued at approximately $780,229.84. The trade was a 6.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Elzbieta Cieslik sold 2,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $61.58, for a total transaction of $123,160.00. Following the transaction, the chief accounting officer directly owned 14,894 shares in the company, valued at approximately $917,172.52. The trade was a 11.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,445 shares of company stock worth $2,168,537 over the last 90 days. Corporate insiders own 0.54% of the company’s stock.

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.