Webster Financial Corporation (WBS) Position Lowered by Macquarie Group Ltd.
Macquarie Group Ltd. reduced its stake in Webster Financial Corporation (NYSE:WBS) by 4.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,503,326 shares of the financial services provider’s stock after selling 118,421 shares during the quarter. Macquarie Group Ltd. owned about 2.72% of Webster Financial Corporation worth $131,550,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Chilton Investment Co. LLC acquired a new position in Webster Financial Corporation in the second quarter valued at approximately $2,994,000. BNP Paribas Arbitrage SA lifted its stake in Webster Financial Corporation by 65.5% in the second quarter. BNP Paribas Arbitrage SA now owns 34,826 shares of the financial services provider’s stock valued at $1,819,000 after buying an additional 13,781 shares during the period. BlueCrest Capital Management Ltd acquired a new position in Webster Financial Corporation in the second quarter valued at approximately $7,481,000. Victory Capital Management Inc. lifted its stake in Webster Financial Corporation by 3,821.0% in the second quarter. Victory Capital Management Inc. now owns 804,776 shares of the financial services provider’s stock valued at $42,026,000 after buying an additional 784,251 shares during the period. Finally, Marshall Wace North America L.P. acquired a new position in Webster Financial Corporation in the second quarter valued at approximately $5,515,000. 93.94% of the stock is currently owned by institutional investors.
Shares of Webster Financial Corporation (NYSE:WBS) traded up $0.51 during trading hours on Friday, hitting $53.23. The stock had a trading volume of 283,316 shares, compared to its average volume of 431,018. 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 has a one year low of $44.04 and a one year high of $57.50. The firm has a market capitalization of $4,950.00, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 2.54 and a beta of 1.23.
Webster Financial Corporation (NYSE:WBS) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.03. Webster Financial Corporation had a return on equity of 9.89% and a net margin of 21.09%. The company had revenue of $266.75 million for the quarter, compared to analyst estimates of $269.03 million. During the same period in the prior year, the firm earned $0.54 earnings per share. research analysts anticipate that Webster Financial Corporation will post 2.6 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Investors of record on Tuesday, November 7th will be issued 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 1.95%. Webster Financial Corporation’s dividend payout ratio (DPR) is currently 40.94%.
Several equities analysts have issued reports on the company. ValuEngine lowered Webster Financial Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research raised Webster Financial Corporation from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Thursday, August 3rd. BidaskClub lowered Webster Financial Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Barclays PLC set a $55.00 price target on Webster Financial Corporation and gave the company a “hold” rating in a research note on Friday, October 20th. Finally, Deutsche Bank AG upped their target price on Webster Financial Corporation from $51.00 to $53.00 and gave the stock a “hold” rating in a research report on Wednesday, November 8th. Two equities 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 stock. The company has an average rating of “Hold” and an average target price of $55.22.
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In related news, EVP Daniel Bley sold 1,486 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $54.74, for a total transaction of $81,343.64. Following the completion of the sale, the executive vice president now owns 25,547 shares in the company, valued at $1,398,442.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Joseph Crawford sold 11,516 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $54.83, for a total value of $631,422.28. Following the sale, the director now owns 16,953 shares of the company’s stock, valued at approximately $929,532.99. The disclosure for this sale can be found here. Insiders have sold 36,107 shares of company stock valued at $1,988,452 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.
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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