State Treasurer State of Michigan lowered its holdings in Webster Financial Co. (NYSE:WBS) by 17.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,250 shares of the financial services provider’s stock after selling 5,600 shares during the period. State Treasurer State of Michigan’s holdings in Webster Financial were worth $1,302,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hilton Capital Management LLC bought a new stake in shares of Webster Financial in the first quarter valued at approximately $54,000. Harvest Group Wealth Management LLC bought a new stake in shares of Webster Financial in the first quarter valued at approximately $58,000. Advisory Services Network LLC raised its position in shares of Webster Financial by 10.1% in the first quarter. Advisory Services Network LLC now owns 2,988 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 275 shares during the period. Cetera Advisor Networks LLC bought a new stake in shares of Webster Financial in the first quarter valued at approximately $200,000. Finally, YHB Investment Advisors Inc. raised its position in shares of Webster Financial by 13.4% in the first quarter. YHB Investment Advisors Inc. now owns 4,819 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 571 shares during the period. 90.48% of the stock is currently owned by institutional investors.

Webster Financial stock opened at $48.14 on Wednesday. The business’s 50 day moving average price is $48.09. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.67. The company has a market cap of $4.43 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.46 and a beta of 1.25. Webster Financial Co. has a 1-year low of $43.95 and a 1-year high of $68.62.

Webster Financial (NYSE:WBS) last posted its earnings results on Thursday, July 18th. The financial services provider reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.02. The business had revenue of $317.60 million for the quarter, compared to analyst estimates of $312.36 million. Webster Financial had a net margin of 27.99% and a return on equity of 13.80%. Webster Financial’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 EPS. As a group, research analysts anticipate that Webster Financial Co. will post 4.11 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Monday, August 5th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Friday, August 2nd. Webster Financial’s dividend payout ratio (DPR) is presently 42.78%.

In other Webster Financial news, EVP Daniel Bley sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $51.45, for a total value of $102,900.00. Following the completion of the transaction, the executive vice president now owns 18,654 shares of the company’s stock, valued at approximately $959,748.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John Joseph Crawford sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $51.28, for a total transaction of $51,280.00. Following the completion of the transaction, the director now directly owns 15,099 shares of the company’s stock, valued at approximately $774,276.72. The disclosure for this sale can be found here. Insiders have sold a total of 4,000 shares of company stock worth $203,670 in the last ninety days. 1.53% of the stock is currently owned by insiders.

Several research firms have recently issued reports on WBS. Zacks Investment Research raised shares of Webster Financial from a “sell” rating to a “hold” rating and set a $49.00 price target on the stock in a research report on Friday, July 5th. Morgan Stanley raised shares of Webster Financial from an “underweight” rating to an “equal weight” rating and set a $51.00 target price on the stock in a report on Monday, July 1st. Boenning Scattergood reaffirmed a “neutral” rating on shares of Webster Financial in a report on Friday, July 19th. Finally, Compass Point started coverage on shares of Webster Financial in a report on Tuesday, May 7th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Webster Financial has a consensus rating of “Hold” and an average target price of $56.25.

Webster Financial Profile

Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.

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

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