Cambiar Investors LLC Decreases Stake in Webster Financial Corporation $WBS

Cambiar Investors LLC lowered its position in Webster Financial Corporation (NYSE:WBS) by 7.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 160,191 shares of the financial services provider’s stock after selling 12,741 shares during the quarter. Cambiar Investors LLC’s holdings in Webster Financial were worth $8,746,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Versor Investments LP purchased a new position in Webster Financial in the second quarter worth approximately $463,000. AlphaStar Capital Management LLC purchased a new position in Webster Financial in the second quarter worth approximately $205,000. Strs Ohio lifted its stake in Webster Financial by 2.0% in the second quarter. Strs Ohio now owns 37,876 shares of the financial services provider’s stock worth $2,068,000 after acquiring an additional 739 shares during the last quarter. Keybank National Association OH purchased a new position in Webster Financial in the second quarter worth approximately $216,000. Finally, Hantz Financial Services Inc. lifted its stake in Webster Financial by 50.3% in the second quarter. Hantz Financial Services Inc. now owns 899 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 301 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Insider Activity

In other news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $57.95, for a total value of $463,600.00. Following the transaction, the chief executive officer directly owned 239,872 shares of the company’s stock, valued at $13,900,582.40. The trade was a 3.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James Mi Griffin sold 807 shares of Webster Financial stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $62.14, for a total transaction of $50,146.98. Following the completion of the transaction, the insider directly owned 12,556 shares in the company, valued at $780,229.84. The trade was a 6.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 11,807 shares of company stock valued at $698,527 in the last ninety days. 0.54% of the stock is currently owned by company insiders.

Webster Financial Stock Performance

Shares of Webster Financial stock opened at $56.98 on Friday. The firm’s fifty day simple moving average is $59.45 and its 200-day simple moving average is $55.94. The stock has a market capitalization of $9.47 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 0.50 and a beta of 1.05. Webster Financial Corporation has a 12 month low of $39.43 and a 12 month high of $63.99. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.85.

Webster Financial (NYSE:WBS) last announced its earnings results on Friday, October 17th. The financial services provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.02. The business had revenue of $732.60 million for the quarter, compared to analysts’ expectations of $725.22 million. Webster Financial had a net margin of 21.32% and a return on equity of 11.07%. During the same period in the previous year, the company posted $1.34 EPS. As a group, equities analysts forecast that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, November 10th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, November 10th. Webster Financial’s payout ratio is presently 29.80%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WBS. Citigroup lifted their price target on shares of Webster Financial from $65.00 to $71.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Truist Financial decreased their price target on shares of Webster Financial from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Monday, October 20th. TD Cowen started coverage on shares of Webster Financial in a report on Thursday, September 25th. They set a “buy” rating and a $78.00 price objective on the stock. Seaport Res Ptn cut shares of Webster Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Finally, Weiss Ratings cut shares of Webster Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Webster Financial has an average rating of “Moderate Buy” and a consensus target price of $69.69.

Webster Financial Profile

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.