Webster Financial Corporation (WBS) Holdings Cut by Lincoln National Corp
Lincoln National Corp cut its position in Webster Financial Corporation (NYSE:WBS) by 15.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,168 shares of the financial services provider’s stock after selling 1,100 shares during the period. Lincoln National Corp’s holdings in Webster Financial Corporation were worth $324,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Seven Eight Capital LP purchased a new position in Webster Financial Corporation in the second quarter worth about $141,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Webster Financial Corporation by 9.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,147 shares of the financial services provider’s stock worth $164,000 after buying an additional 274 shares during the last quarter. Sky Investment Group LLC purchased a new position in Webster Financial Corporation in the second quarter worth about $200,000. Advisor Group Inc. raised its holdings in Webster Financial Corporation by 13.3% in the second quarter. Advisor Group Inc. now owns 4,038 shares of the financial services provider’s stock worth $211,000 after buying an additional 474 shares during the last quarter. Finally, BB&T Securities LLC purchased a new position in Webster Financial Corporation in the second quarter worth about $212,000. 92.17% of the stock is owned by institutional investors and hedge funds.
Shares of Webster Financial Corporation (NYSE:WBS) traded down $0.38 during mid-day trading on Monday, hitting $54.58. 2,620 shares of the stock were exchanged, compared to its average volume of 456,676. Webster Financial Corporation has a 52-week low of $39.62 and a 52-week high of $57.50. The company has a market capitalization of $5,058.19, a price-to-earnings ratio of 21.72, a PEG ratio of 2.65 and a beta of 1.23. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.81 and a quick ratio of 0.81.
Webster Financial Corporation (NYSE:WBS) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.03. The firm had revenue of $266.75 million during the quarter, compared to analyst estimates of $269.03 million. Webster Financial Corporation had a net margin of 21.09% and a return on equity of 9.89%. During the same period in the previous year, the business posted $0.54 earnings per share. sell-side analysts forecast that Webster Financial Corporation will post 2.6 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 21st. Investors of record on Tuesday, November 7th will be given a dividend of $0.26 per share. The ex-dividend date is Monday, November 6th. This represents a $1.04 annualized dividend and a yield of 1.91%. Webster Financial Corporation’s dividend payout ratio (DPR) is 41.11%.
In related news, Director John Joseph Crawford sold 11,516 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $54.83, for a total transaction of $631,422.28. Following the completion of the sale, the director now directly owns 16,953 shares in the company, valued at $929,532.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel Bley sold 1,486 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $54.74, for a total transaction of $81,343.64. Following the sale, the executive vice president now owns 25,547 shares of the company’s stock, valued at $1,398,442.78. The disclosure for this sale can be found here. Insiders have sold 36,107 shares of company stock valued at $1,988,452 over the last 90 days. 2.20% of the stock is currently owned by company insiders.
Several brokerages have issued reports on WBS. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $63.00 target price on shares of Webster Financial Corporation in a report on Friday, October 20th. Barclays PLC set a $55.00 target price on shares of Webster Financial Corporation and gave the stock a “hold” rating in a report on Friday, October 20th. Wells Fargo & Company lifted their target price on shares of Webster Financial Corporation from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, October 20th. Boenning Scattergood reaffirmed a “hold” rating on shares of Webster Financial Corporation in a report on Friday, October 20th. Finally, Zacks Investment Research raised shares of Webster Financial Corporation from a “sell” rating to a “hold” rating in a report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $54.11.
Webster Financial Corporation Profile
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.
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