Amalgamated Bank Has $3.81 Million Position in Webster Financial Co. (NYSE:WBS)

Amalgamated Bank lessened its holdings in Webster Financial Co. (NYSE:WBS) by 23.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,778 shares of the financial services provider’s stock after selling 25,553 shares during the quarter. Amalgamated Bank’s holdings in Webster Financial were worth $3,812,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. CIBC Asset Management Inc increased its position in Webster Financial by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock valued at $210,000 after acquiring an additional 248 shares during the period. William Blair Investment Management LLC lifted its holdings in Webster Financial by 6.5% during the 1st quarter. William Blair Investment Management LLC now owns 4,207 shares of the financial services provider’s stock worth $214,000 after buying an additional 255 shares during the period. US Bancorp DE grew its position in shares of Webster Financial by 3.6% in the 1st quarter. US Bancorp DE now owns 7,487 shares of the financial services provider’s stock valued at $380,000 after buying an additional 260 shares during the last quarter. Creative Financial Designs Inc. ADV increased its stake in shares of Webster Financial by 8.5% in the third quarter. Creative Financial Designs Inc. ADV now owns 3,976 shares of the financial services provider’s stock valued at $185,000 after buying an additional 311 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Webster Financial by 30.1% during the second quarter. GAMMA Investing LLC now owns 1,629 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 377 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Daniel Bley sold 3,463 shares of Webster Financial stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $52.10, for a total transaction of $180,422.30. Following the transaction, the insider now owns 19,529 shares of the company’s stock, valued at $1,017,460.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Webster Financial news, insider Daniel Bley sold 3,463 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $52.10, for a total transaction of $180,422.30. Following the transaction, the insider now directly owns 19,529 shares in the company, valued at approximately $1,017,460.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Javier L. Evans sold 10,137 shares of Webster Financial stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $57.41, for a total transaction of $581,965.17. Following the transaction, the insider now directly owns 22,657 shares in the company, valued at $1,300,738.37. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,100 shares of company stock valued at $1,202,237. Corporate insiders own 0.88% of the company’s stock.

Webster Financial Price Performance

Shares of NYSE:WBS opened at $57.71 on Friday. The stock’s 50 day moving average is $48.36 and its 200-day moving average is $45.96. Webster Financial Co. has a twelve month low of $38.54 and a twelve month high of $60.13. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $9.89 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 0.89 and a beta of 1.27.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). The business had revenue of $647.62 million during the quarter, compared to the consensus estimate of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same period last year, the business posted $1.55 earnings per share. Sell-side analysts forecast that Webster Financial Co. will post 5.24 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a yield of 2.77%. Webster Financial’s dividend payout ratio (DPR) is currently 36.28%.

Analysts Set New Price Targets

Several brokerages recently commented on WBS. Morgan Stanley reduced their target price on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. Royal Bank of Canada increased their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Wedbush lifted their target price on shares of Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Stephens set a $58.00 price target on shares of Webster Financial in a research report on Thursday, October 17th. Finally, Wells Fargo & Company increased their price target on Webster Financial from $50.00 to $60.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Webster Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.85.

Webster Financial Company 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.