Sanctuary Advisors LLC Has $893,000 Holdings in Webster Financial Co. (NYSE:WBS)

Sanctuary Advisors LLC increased its position in shares of Webster Financial Co. (NYSE:WBS) by 6.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,158 shares of the financial services provider’s stock after acquiring an additional 1,114 shares during the period. Sanctuary Advisors LLC’s holdings in Webster Financial were worth $893,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. increased its stake in shares of Webster Financial by 9.3% in the third quarter. Assetmark Inc. now owns 2,611 shares of the financial services provider’s stock valued at $122,000 after buying an additional 222 shares during the period. CIBC Asset Management Inc raised its position in Webster Financial by 5.4% during the 2nd quarter. CIBC Asset Management Inc now owns 4,821 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 248 shares during the last quarter. Covestor Ltd lifted its holdings in Webster Financial by 17.0% during the 3rd quarter. Covestor Ltd now owns 1,895 shares of the financial services provider’s stock worth $89,000 after buying an additional 276 shares during the period. Creative Financial Designs Inc. ADV grew its position in shares of Webster Financial by 8.5% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 3,976 shares of the financial services provider’s stock valued at $185,000 after buying an additional 311 shares during the last quarter. Finally, M&T Bank Corp increased its stake in shares of Webster Financial by 6.6% in the third quarter. M&T Bank Corp now owns 6,155 shares of the financial services provider’s stock valued at $287,000 after buying an additional 383 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Trading Up 1.6 %

NYSE WBS opened at $54.99 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The business has a fifty day simple moving average of $56.74 and a 200 day simple moving average of $49.06. Webster Financial Co. has a 12 month low of $39.33 and a 12 month high of $63.99. The firm has a market capitalization of $9.43 billion, a P/E ratio of 12.47, a PEG ratio of 0.87 and a beta of 1.29.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share 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 net margin of 18.80% and a return on equity of 11.03%. During the same period in the previous year, the business earned $1.55 earnings per share. On average, analysts predict 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. 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 2.91%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial’s payout ratio is 36.28%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Morgan Stanley dropped their price target on shares of 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. Wedbush raised their target price on Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Royal Bank of Canada boosted their price target on Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. lowered their price objective on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company increased their target price on shares of Webster Financial from $60.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.31.

Insider Buying and Selling

In other Webster Financial news, CAO Albert Jen-Wen Wang sold 4,000 shares of Webster Financial 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 sale, the chief accounting officer now owns 14,273 shares of the company’s stock, valued at approximately $748,333.39. The trade was a 21.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel Bley sold 500 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $61.91, for a total transaction of $30,955.00. Following the transaction, the insider now directly owns 17,279 shares of the company’s stock, valued at $1,069,742.89. This represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,250 shares of company stock worth $2,105,322. 0.88% of the stock is owned by company 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.