Commonwealth Equity Services Inc Has $1.22 Million Position in Webster Financial Corporation (WBS)
Commonwealth Equity Services Inc reduced its stake in shares of Webster Financial Corporation (NYSE:WBS) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,272 shares of the financial services provider’s stock after selling 1,149 shares during the period. Commonwealth Equity Services Inc’s holdings in Webster Financial were worth $1,222,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in WBS. Seven Eight Capital LP bought a new position in Webster Financial during the 2nd quarter worth $141,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Webster Financial by 9.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,147 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 274 shares during the last quarter. Advisor Group Inc. raised its position in Webster Financial by 13.3% during the 2nd quarter. Advisor Group Inc. now owns 4,038 shares of the financial services provider’s stock worth $211,000 after purchasing an additional 474 shares during the last quarter. BB&T Securities LLC bought a new position in Webster Financial during the 2nd quarter worth $212,000. Finally, Flinton Capital Management LLC raised its position in Webster Financial by 42.1% during the 2nd quarter. Flinton Capital Management LLC now owns 4,480 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 1,328 shares during the last quarter. 93.69% of the stock is owned by institutional investors and hedge funds.
Webster Financial Corporation (WBS) traded down $0.57 during mid-day trading on Monday, hitting $53.03. The stock had a trading volume of 80,900 shares, compared to its average volume of 698,481. Webster Financial Corporation has a 1 year low of $44.04 and a 1 year high of $57.50. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $4,882.74, a price-to-earnings ratio of 20.96, a PEG ratio of 2.55 and a beta of 1.23.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Monday, November 6th. Webster Financial’s dividend payout ratio (DPR) is presently 41.11%.
Several research analysts recently issued reports on the company. ValuEngine lowered Webster Financial from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. BidaskClub lowered Webster Financial from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Zacks Investment Research raised Webster Financial from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Thursday, August 3rd. Deutsche Bank AG raised their target price on Webster Financial from $51.00 to $53.00 and gave the stock a “hold” rating in a research report on Wednesday, November 8th. Finally, Wells Fargo & Company raised their target price on Webster Financial from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Webster Financial presently has a consensus rating of “Hold” and an average price target of $55.22.
In other news, Chairman James Copenhaver Smith sold 8,943 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $55.93, for a total value of $500,181.99. Following the completion of the sale, the chairman now directly owns 316,103 shares in the company, valued at approximately $17,679,640.79. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Daniel Bley sold 1,486 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $54.74, for a total value of $81,343.64. Following the completion of 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. Over the last three months, insiders sold 36,107 shares of company stock valued at $1,988,452. Corporate insiders own 2.20% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Commonwealth Equity Services Inc Has $1.22 Million Position in Webster Financial Corporation (WBS)” was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this report can be accessed at https://www.thecerbatgem.com/2017/11/27/commonwealth-equity-services-inc-has-1-22-million-position-in-webster-financial-corporation-wbs.html.
About Webster Financial
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.
Receive News & Stock Ratings for Webster Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Webster Financial Corporation and related stocks with our FREE daily email newsletter.