Wolverine Asset Management LLC Lowers Position in Webster Financial Co. (NYSE:WBS)

Wolverine Asset Management LLC trimmed its position in shares of Webster Financial Co. (NYSE:WBS) by 84.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 782 shares of the financial services provider’s stock after selling 4,272 shares during the quarter. Wolverine Asset Management LLC’s holdings in Webster Financial were worth $36,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in Webster Financial by 28.0% in 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. Point72 Asset Management L.P. lifted its stake in Webster Financial by 64.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,604,198 shares of the financial services provider’s stock valued at $69,927,000 after buying an additional 631,080 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Webster Financial in the 3rd quarter worth about $22,146,000. Bank of Montreal Can increased its stake in Webster Financial by 1,482.9% during the 2nd quarter. Bank of Montreal Can now owns 339,246 shares of the financial services provider’s stock worth $14,801,000 after buying an additional 317,814 shares in the last quarter. Finally, Earnest Partners LLC raised its holdings in shares of Webster Financial by 11.2% during the first quarter. Earnest Partners LLC now owns 3,072,624 shares of the financial services provider’s stock valued at $155,997,000 after acquiring an additional 308,455 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Webster Financial Stock Performance

Shares of Webster Financial stock opened at $59.67 on Friday. The business’s fifty day simple moving average is $49.46 and its 200-day simple moving average is $46.37. 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 cap of $10.23 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 0.89 and a beta of 1.27. Webster Financial Co. has a 52 week low of $39.33 and a 52 week high of $61.12.

Webster Financial (NYSE:WBS) last announced its 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). The company had revenue of $647.62 million for 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 period last year, the business earned $1.55 EPS. Equities analysts forecast that Webster Financial Co. will post 5.24 earnings per share for the current year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial’s payout ratio is 36.28%.

Insiders Place Their Bets

In related news, insider Javier L. Evans sold 10,137 shares of the stock in a transaction dated 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 owns 22,657 shares of the company’s stock, valued at approximately $1,300,738.37. This represents a 30.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of the firm’s stock in a transaction dated 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 trade represents a 21.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,100 shares of company stock worth $1,202,237 over the last ninety days. Corporate insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

WBS has been the topic of a number of research analyst reports. Stephens set a $58.00 price target on Webster Financial in a research note on Thursday, October 17th. Wedbush upped their target price on shares of Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Royal Bank of Canada boosted their price target 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. Finally, Morgan Stanley cut their price objective on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Webster Financial has a consensus rating of “Moderate Buy” and an average target price of $57.85.

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.