Rhumbline Advisers Has $27.39 Million Holdings in Webster Financial Corporation $WBS

Rhumbline Advisers cut its position in shares of Webster Financial Corporation (NYSE:WBS) by 1.2% in the second quarter, Holdings Channel reports. The firm owned 501,605 shares of the financial services provider’s stock after selling 5,944 shares during the period. Rhumbline Advisers’ holdings in Webster Financial were worth $27,388,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Picton Mahoney Asset Management acquired a new position in Webster Financial in the first quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Webster Financial by 327.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 739 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 566 shares in the last quarter. TCTC Holdings LLC increased its stake in shares of Webster Financial by 118.4% during the 1st quarter. TCTC Holdings LLC now owns 832 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 451 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Webster Financial by 3,628.6% during the 2nd quarter. IFP Advisors Inc now owns 783 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 762 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Webster Financial by 56.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 829 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 298 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

Webster Financial Trading Down 0.7%

Webster Financial stock opened at $59.43 on Thursday. Webster Financial Corporation has a 52 week low of $39.43 and a 52 week high of $63.59. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $9.59 billion, a PE ratio of 11.07, a PEG ratio of 0.50 and a beta of 1.13. The business’s 50-day simple moving average is $57.78 and its 200-day simple moving average is $57.15.

Webster Financial (NYSE:WBS) last announced its earnings results on Friday, October 17th. The financial services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.02. The firm had revenue of $756.06 million during the quarter, compared to the consensus estimate of $725.22 million. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.During the same quarter in the prior year, the company earned $1.34 EPS. Equities research analysts forecast that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were paid a $0.40 dividend. The ex-dividend date was Monday, November 10th. This represents a $1.60 annualized dividend and a dividend yield of 2.7%. Webster Financial’s dividend payout ratio (DPR) is presently 29.80%.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $55.45, for a total value of $443,600.00. Following the completion of the sale, the chief executive officer directly owned 231,872 shares of the company’s stock, valued at $12,857,302.40. This represents a 3.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Elzbieta Cieslik sold 2,000 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $61.58, for a total transaction of $123,160.00. Following the completion of the sale, the chief accounting officer owned 14,894 shares in the company, valued at $917,172.52. This represents a 11.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 11,000 shares of company stock worth $628,380. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on WBS shares. Weiss Ratings cut shares of Webster Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. Raymond James Financial reaffirmed an “outperform” rating and issued a $65.00 price target (down previously from $68.00) on shares of Webster Financial in a research report on Monday, October 20th. Morgan Stanley upped their price target on Webster Financial from $64.00 to $77.00 and gave the stock an “underperform” rating in a research note on Monday, September 29th. Cowen initiated coverage on Webster Financial in a report on Wednesday, September 24th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. cut their price objective on Webster Financial from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.85.

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.