Victory Capital Management Inc. Has $1.53 Million Stock Holdings in Webster Financial Co. (NYSE:WBS)

Victory Capital Management Inc. decreased its holdings in shares of Webster Financial Co. (NYSE:WBS) by 8.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,919 shares of the financial services provider’s stock after selling 2,999 shares during the quarter. Victory Capital Management Inc.’s holdings in Webster Financial were worth $1,534,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of WBS. V Square Quantitative Management LLC bought a new stake in shares of Webster Financial in the 3rd quarter valued at approximately $27,000. UMB Bank n.a. raised its position in shares of Webster Financial by 340.7% during the third quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock valued at $28,000 after buying an additional 460 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of Webster Financial during the 2nd quarter worth approximately $32,000. Mather Group LLC. boosted its stake in Webster Financial by 7,650.0% during the second quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock worth $54,000 after buying an additional 1,224 shares in the last quarter. Finally, NBC Securities Inc. boosted its position in shares of Webster Financial by 117.9% during the 3rd quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 686 shares in the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Webster Financial Price Performance

Shares of WBS opened at $62.82 on Tuesday. The stock has a market capitalization of $10.77 billion, a P/E ratio of 14.24, a P/E/G ratio of 0.91 and a beta of 1.27. Webster Financial Co. has a twelve month low of $39.33 and a twelve month high of $63.99. The company has a 50 day moving average of $51.76 and a 200-day moving average of $47.16. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45.

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

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial’s dividend payout ratio is 36.28%.

Insider Buying and Selling

In other news, insider Daniel Bley sold 3,463 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were 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 of the company’s stock, valued at approximately $1,017,460.90. This trade represents a 15.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of Webster Financial stock in a transaction on Monday, October 21st. The shares were sold at an average price of $52.43, for a total value of $209,720.00. Following the completion of the transaction, the chief accounting officer now directly owns 14,273 shares of the company’s stock, valued at $748,333.39. This represents a 21.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,750 shares of company stock valued at $2,074,367. Company insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Royal Bank of Canada raised their price target on shares of Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. StockNews.com downgraded Webster Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 18th. Wedbush upped their price target on Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company lifted their price objective on Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Finally, Barclays increased their target price on shares of Webster Financial from $60.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.