Profund Advisors LLC trimmed its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 45.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,121 shares of the financial services provider’s stock after selling 9,209 shares during the period. Profund Advisors LLC’s holdings in Webster Financial Corporation were worth $581,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Northwestern Mutual Investment Management Company LLC increased its holdings in Webster Financial Corporation by 0.3% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 15,857 shares of the financial services provider’s stock valued at $793,000 after purchasing an additional 49 shares in the last quarter. World Asset Management Inc increased its holdings in Webster Financial Corporation by 2.2% during the 2nd quarter. World Asset Management Inc now owns 5,827 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 126 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in Webster Financial Corporation by 2.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 7,391 shares of the financial services provider’s stock valued at $386,000 after purchasing an additional 181 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Webster Financial Corporation by 3.4% in the 2nd quarter. Bank of Montreal Can now owns 6,047 shares of the financial services provider’s stock valued at $315,000 after buying an additional 200 shares during the period. Finally, Hartford Financial Management Inc. increased its stake in shares of Webster Financial Corporation by 0.6% in the 2nd quarter. Hartford Financial Management Inc. now owns 38,340 shares of the financial services provider’s stock valued at $2,002,000 after buying an additional 220 shares during the period. 93.67% of the stock is owned by hedge funds and other institutional investors.

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Several equities research analysts have recently commented on the company. BidaskClub raised Webster Financial Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Zacks Investment Research raised Webster Financial Corporation from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Thursday, August 3rd. Jefferies Group LLC reissued a “hold” rating and issued a $53.00 target price on shares of Webster Financial Corporation in a research note on Friday, July 14th. ValuEngine raised Webster Financial Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Piper Jaffray Companies reissued a “sell” rating and issued a $46.00 target price on shares of Webster Financial Corporation in a research note on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $53.00.

Webster Financial Corporation (NYSE WBS) opened at 52.00 on Thursday. Webster Financial Corporation has a 52-week low of $36.96 and a 52-week high of $57.50. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 21.67 and a beta of 1.27. The stock has a 50 day moving average price of $47.96 and a 200 day moving average price of $50.49.

Webster Financial Corporation (NYSE:WBS) last announced its quarterly earnings results on Friday, July 21st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.04. The company had revenue of $262.50 million during the quarter, compared to the consensus estimate of $260.91 million. Webster Financial Corporation had a net margin of 20.43% and a return on equity of 9.49%. During the same period in the prior year, the business earned $0.53 earnings per share. Analysts anticipate that Webster Financial Corporation will post $2.55 EPS for the current fiscal year.

In other news, EVP Nitin J. Mhatre sold 31,940 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $51.34, for a total transaction of $1,639,799.60. Following the completion of the transaction, the executive vice president now directly owns 23,120 shares in the company, valued at $1,186,980.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Daniel Bley sold 8,000 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $51.20, for a total transaction of $409,600.00. Following the transaction, the executive vice president now owns 25,657 shares of the company’s stock, valued at $1,313,638.40. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.

Webster Financial Corporation Company 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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Institutional Ownership by Quarter for Webster Financial Corporation (NYSE:WBS)

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