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Several other large investors also recently made changes to their positions in the company. ExodusPoint Capital Management LP bought a new position in Webster Financial in the fourth quarter worth approximately $25,464,000. Cinctive Capital Management LP lifted its holdings in shares of Webster Financial by 81.9% in the 4th quarter. Cinctive Capital Management LP now owns 102,988 shares of the financial services provider’s stock worth $5,687,000 after purchasing an additional 46,359 shares in the last quarter. Trexquant Investment LP acquired a new stake in Webster Financial in the 4th quarter valued at $2,983,000. Headlands Technologies LLC bought a new stake in Webster Financial during the 4th quarter valued at $32,000. Finally, O Shaughnessy Asset Management LLC increased its stake in Webster Financial by 16.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,137 shares of the financial services provider’s stock valued at $505,000 after purchasing an additional 1,316 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, Director Laurence C. Morse sold 13,217 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total transaction of $780,728.19. Following the completion of the sale, the director now directly owns 18,808 shares in the company, valued at $1,110,988.56. This represents a 41.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.43, for a total transaction of $459,440.00. Following the completion of the sale, the chief executive officer now directly owns 210,051 shares in the company, valued at approximately $12,063,228.93. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. UBS Group began coverage on shares of Webster Financial in a report on Tuesday, December 17th. They set a “buy” rating and a $76.00 price objective for the company. Raymond James decreased their price objective on Webster Financial from $65.00 to $58.00 and set an “outperform” rating for the company in a report on Wednesday, April 2nd. Royal Bank of Canada raised their target price on Webster Financial from $66.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Barclays decreased their price target on Webster Financial from $80.00 to $72.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Wells Fargo & Company dropped their price objective on Webster Financial from $75.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.92.
Check Out Our Latest Research Report on WBS
Webster Financial Price Performance
Shares of NYSE:WBS opened at $44.34 on Wednesday. The company has a market capitalization of $7.60 billion, a P/E ratio of 10.15, a price-to-earnings-growth ratio of 1.02 and a beta of 1.05. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 0.84. Webster Financial Co. has a fifty-two week low of $39.34 and a fifty-two week high of $63.99. The company’s 50-day moving average is $51.65 and its 200 day moving average is $54.35.
Webster Financial (NYSE:WBS – Get Free Report) last released its quarterly earnings data on Friday, January 17th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.35 by $0.08. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. The company had revenue of $661.00 million during the quarter, compared to the consensus estimate of $687.53 million. During the same period last year, the firm earned $1.46 EPS. On average, equities research analysts forecast that Webster Financial Co. will post 5.88 earnings per share for the current year.
Webster Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.60 annualized dividend and a dividend yield of 3.61%. Webster Financial’s payout ratio is currently 36.61%.
Webster Financial Profile
(Free Report)
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.
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