JPMorgan Chase & Co. Cuts Stock Position in Webster Financial Co. (NYSE:WBS)

JPMorgan Chase & Co. decreased its position in shares of Webster Financial Co. (NYSE:WBS) by 3.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 449,910 shares of the financial services provider’s stock after selling 14,057 shares during the period. JPMorgan Chase & Co.’s holdings in Webster Financial were worth $20,970,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. State Street Corp increased its position 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 purchasing an additional 333,606 shares in the last quarter. 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 valued at $240,687,000 after buying an additional 1,206,575 shares in the last quarter. Earnest Partners LLC increased its position in 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 valued at $134,524,000 after buying an additional 13,487 shares in the last quarter. Geode Capital Management LLC raised its stake in Webster Financial by 1.9% in the third 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 last quarter. Finally, American Century Companies Inc. boosted its holdings in Webster Financial by 12.9% in the second quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock worth $115,096,000 after acquiring an additional 301,935 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Webster Financial Stock Performance

Shares of WBS stock opened at $55.30 on Thursday. The stock has a market cap of $9.48 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 0.87 and a beta of 1.30. Webster Financial Co. has a 52-week low of $39.33 and a 52-week high of $63.99. The business has a 50-day simple moving average of $57.78 and a 200-day simple moving average of $50.38. 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 released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.01). The company had revenue of $647.62 million during the quarter, compared to analysts’ expectations of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same quarter in the prior year, the company posted $1.55 EPS. On average, equities analysts expect that Webster Financial Co. will post 5.24 EPS for the current year.

Webster Financial Dividend Announcement

The company also recently declared 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. The ex-dividend date was Friday, November 1st. This represents a $1.60 annualized dividend and a yield of 2.89%. Webster Financial’s dividend payout ratio is presently 36.28%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WBS shares. UBS Group initiated coverage on shares of Webster Financial in a report on Tuesday, December 17th. They set a “buy” rating and a $76.00 price objective 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 report on Friday, October 18th. Stephens set a $58.00 price objective on shares of Webster Financial in a research note on Thursday, October 17th. Morgan Stanley cut their target price on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. Finally, StockNews.com cut Webster Financial from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.46.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 3,463 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $52.10, for a total value of $180,422.30. Following the sale, 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 is accessible through this hyperlink. Also, insider Javier L. Evans sold 10,137 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $57.41, for a total value of $581,965.17. Following the completion of the sale, the insider now owns 22,657 shares of the company’s stock, valued at $1,300,738.37. This trade represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,250 shares of company stock valued at $2,105,322. Corporate insiders own 0.88% of the company’s stock.

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.