Legacy Wealth Management LLC MS Cuts Stock Position in Webster Financial Co. (NYSE:WBS)

Legacy Wealth Management LLC MS trimmed its position in Webster Financial Co. (NYSE:WBS) by 19.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,795 shares of the financial services provider’s stock after selling 1,180 shares during the period. Legacy Wealth Management LLC MS’s holdings in Webster Financial were worth $265,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. State Street Corp increased its stake in shares of Webster Financial by 4.8% during the third quarter. State Street Corp now owns 7,320,930 shares of the financial services provider’s stock worth $341,229,000 after acquiring an additional 333,606 shares during the period. Dimensional Fund Advisors LP increased its position in Webster Financial by 28.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock worth $240,687,000 after purchasing an additional 1,206,575 shares during the period. Earnest Partners LLC raised its stake in shares of Webster Financial by 0.4% during the 2nd quarter. Earnest Partners LLC now owns 3,086,111 shares of the financial services provider’s stock worth $134,524,000 after buying an additional 13,487 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Webster Financial by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,969,928 shares of the financial services provider’s stock valued at $138,465,000 after buying an additional 54,613 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Webster Financial by 12.9% during the 2nd quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock worth $115,096,000 after purchasing an additional 301,935 shares in the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on WBS shares. Royal Bank of Canada boosted their price target on Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Stephens set a $58.00 price target on Webster Financial in a research report on Thursday, October 17th. Wedbush boosted their price objective on shares of Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. cut their target price on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Finally, Barclays upped their price target on shares of Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $60.69.

Insider Buying and Selling

In related news, insider Javier L. Evans sold 10,137 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $57.41, for a total value of $581,965.17. Following the sale, the insider now owns 22,657 shares of the company’s stock, valued at approximately $1,300,738.37. This trade represents a 30.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 14,273 shares of the company’s stock, valued at $748,333.39. This represents a 21.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,250 shares of company stock worth $2,105,322 over the last quarter. 0.88% of the stock is owned by company insiders.

Webster Financial Stock Up 1.3 %

Shares of Webster Financial stock traded up $0.70 during trading on Monday, reaching $56.18. The company had a trading volume of 104,398 shares, compared to its average volume of 518,206. The company has a market cap of $9.63 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 0.87 and a beta of 1.30. Webster Financial Co. has a fifty-two week low of $39.33 and a fifty-two week high of $63.99. The firm’s fifty day moving average is $57.58 and its 200-day moving average is $50.14. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86.

Webster Financial (NYSE:WBS) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). The firm had revenue of $647.62 million for the quarter, compared to the consensus estimate of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same period in the prior year, the business earned $1.55 EPS. On average, analysts anticipate that Webster Financial Co. will post 5.24 EPS for the current year.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Friday, November 1st. Webster Financial’s dividend payout ratio is presently 36.28%.

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.