Goldman Sachs Group Inc. Cuts Stock Holdings in Webster Financial Co. (NYSE:WBS)

Goldman Sachs Group Inc. reduced its stake in shares of Webster Financial Co. (NYSE:WBS) by 31.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 498,938 shares of the financial services provider’s stock after selling 224,745 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Webster Financial were worth $25,326,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WBS. Kestra Advisory Services LLC grew its position in shares of Webster Financial by 15.7% in the third quarter. Kestra Advisory Services LLC now owns 13,022 shares of the financial services provider’s stock valued at $525,000 after purchasing an additional 1,766 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Webster Financial in the 3rd quarter valued at $427,000. Envestnet Asset Management Inc. increased its stake in Webster Financial by 58.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 319,379 shares of the financial services provider’s stock worth $12,874,000 after buying an additional 117,437 shares during the period. Hsbc Holdings PLC increased its stake in Webster Financial by 15.8% during the 3rd quarter. Hsbc Holdings PLC now owns 39,052 shares of the financial services provider’s stock worth $1,575,000 after buying an additional 5,331 shares during the period. Finally, Mariner LLC increased its stake in Webster Financial by 2.4% during the 3rd quarter. Mariner LLC now owns 13,812 shares of the financial services provider’s stock worth $557,000 after buying an additional 320 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on WBS. StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Raymond James reissued an “outperform” rating and issued a $60.00 price target on shares of Webster Financial in a research note on Tuesday, March 26th. Citigroup cut their target price on Webster Financial from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. JPMorgan Chase & Co. lowered their price objective on shares of Webster Financial from $65.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods decreased their target price on Webster Financial from $64.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Webster Financial currently has an average rating of “Moderate Buy” and an average price target of $56.58.

Webster Financial Stock Up 3.1 %

Shares of Webster Financial stock opened at $42.13 on Tuesday. Webster Financial Co. has a 1 year low of $36.36 and a 1 year high of $53.39. The stock has a 50-day moving average price of $43.93 and a 200 day moving average price of $47.26. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.54. The company has a market cap of $7.22 billion, a P/E ratio of 8.63, a P/E/G ratio of 0.50 and a beta of 1.31.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The firm had revenue of $667.10 million for the quarter, compared to analysts’ expectations of $680.72 million. During the same period last year, the business earned $1.49 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts expect that Webster Financial Co. will post 5.57 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend was Friday, May 3rd. Webster Financial’s payout ratio is 32.79%.

Insider Activity at Webster Financial

In related news, insider Daniel Bley sold 2,280 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $44.80, for a total value of $102,144.00. Following the transaction, the insider now directly owns 28,693 shares of the company’s stock, valued at approximately $1,285,446.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is owned by company insiders.

About Webster Financial

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.