Webster Financial Co. (NYSE:WBS) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lessened its holdings in Webster Financial Co. (NYSE:WBS) by 29.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,272 shares of the financial services provider’s stock after selling 12,377 shares during the quarter. Fifth Third Bancorp’s holdings in Webster Financial were worth $1,672,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of WBS. M&G PLC grew its position in Webster Financial by 9.4% during the 3rd quarter. M&G PLC now owns 207,297 shares of the financial services provider’s stock worth $9,743,000 after purchasing an additional 17,746 shares during the last quarter. Webster Bank N. A. lifted its stake in shares of Webster Financial by 100.9% during the third quarter. Webster Bank N. A. now owns 56,532 shares of the financial services provider’s stock worth $2,635,000 after buying an additional 28,393 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Webster Financial during the fourth quarter valued at $269,000. Hunter Perkins Capital Management LLC acquired a new position in shares of Webster Financial in the 3rd quarter valued at $4,761,000. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in Webster Financial by 76,570.5% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 72,837 shares of the financial services provider’s stock worth $3,395,000 after acquiring an additional 72,742 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on WBS. Barclays boosted their price target on Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Wells Fargo & Company upgraded shares of Webster Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $70.00 to $75.00 in a report on Monday, January 6th. StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a research note on Saturday, January 11th. Royal Bank of Canada increased their price objective on shares of Webster Financial from $66.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Finally, UBS Group assumed coverage on shares of Webster Financial in a report on Tuesday, December 17th. They issued a “buy” rating and a $76.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $62.08.

Webster Financial Price Performance

NYSE:WBS opened at $59.44 on Wednesday. The stock has a market capitalization of $10.19 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 1.06 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 company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.34. The stock’s 50-day moving average price is $58.02 and its 200-day moving average price is $51.84.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Friday, January 17th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.08. The business had revenue of $661.00 million during the quarter, compared to analysts’ expectations of $687.53 million. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. During the same period in the previous year, the business earned $1.46 earnings per share. As a group, equities analysts expect that Webster Financial Co. will post 5.83 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Javier L. Evans sold 10,137 shares of the business’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 transaction of $581,965.17. Following the completion of the sale, the insider now directly owns 22,657 shares in the company, valued at approximately $1,300,738.37. The trade was a 30.91 % 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 the SEC website. Also, insider Charles L. Wilkins sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $59.50, for a total value of $297,500.00. Following the completion of the transaction, the insider now owns 33,657 shares in the company, valued at $2,002,591.50. The trade was a 12.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,287 shares of company stock valued at $1,485,050. 0.88% of the stock is owned by corporate insiders.

About Webster Financial

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.