Sound Income Strategies LLC Reduces Stock Holdings in Webster Financial Co. (NYSE:WBS)

Sound Income Strategies LLC reduced its position in Webster Financial Co. (NYSE:WBS) by 95.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 801 shares of the financial services provider’s stock after selling 15,551 shares during the quarter. Sound Income Strategies LLC’s holdings in Webster Financial were worth $41,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in WBS. EverSource Wealth Advisors LLC increased its holdings in Webster Financial by 29.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 255 shares during the last quarter. Spire Wealth Management increased its stake in shares of Webster Financial by 79.1% in the fourth quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 268 shares in the last quarter. Mariner LLC raised its position in shares of Webster Financial by 2.4% in the third quarter. Mariner LLC now owns 13,812 shares of the financial services provider’s stock valued at $557,000 after purchasing an additional 320 shares during the period. Wedmont Private Capital raised its position in shares of Webster Financial by 6.5% in the first quarter. Wedmont Private Capital now owns 6,054 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 367 shares during the period. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Webster Financial by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 76,239 shares of the financial services provider’s stock valued at $3,073,000 after buying an additional 390 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors.

Webster Financial Stock Down 0.0 %

Shares of NYSE:WBS opened at $41.64 on Thursday. The firm has a fifty day moving average of $43.78 and a 200 day moving average of $47.18. Webster Financial Co. has a 52-week low of $36.36 and a 52-week high of $53.39. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $7.14 billion, a PE ratio of 8.53, a price-to-earnings-growth ratio of 0.51 and a beta of 1.31.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). The firm had revenue of $667.10 million for the quarter, compared to the consensus estimate of $680.72 million. Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. Webster Financial’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the company posted $1.49 earnings per share. As a group, research analysts anticipate that Webster Financial Co. will post 5.56 EPS for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.84%. Webster Financial’s dividend payout ratio (DPR) is 32.79%.

Insider Activity at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 2,280 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $44.80, for a total value of $102,144.00. Following the completion of the sale, the insider now directly owns 28,693 shares of the company’s stock, valued at $1,285,446.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.88% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barclays lowered their target price on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday. Raymond James reaffirmed an “outperform” rating and set a $60.00 target price on shares of Webster Financial in a report on Tuesday, March 26th. Jefferies Financial Group lowered their price target on shares of Webster Financial from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, April 8th. JPMorgan Chase & Co. reduced their price objective on shares of Webster Financial from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada lowered their target price on shares of Webster Financial from $57.00 to $54.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.58.

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.