Groupama Asset Managment Sells 9,806 Shares of Webster Financial Corporation $WBS

Groupama Asset Managment lessened its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 6.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 143,009 shares of the financial services provider’s stock after selling 9,806 shares during the period. Groupama Asset Managment owned 0.09% of Webster Financial worth $7,831,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in WBS. BCGM Wealth Management LLC grew its holdings in Webster Financial by 1.2% during the 2nd quarter. BCGM Wealth Management LLC now owns 16,161 shares of the financial services provider’s stock worth $882,000 after acquiring an additional 186 shares during the last quarter. Perigon Wealth Management LLC lifted its position in shares of Webster Financial by 4.5% during the second quarter. Perigon Wealth Management LLC now owns 4,348 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 189 shares in the last quarter. Journey Strategic Wealth LLC grew its stake in shares of Webster Financial by 3.2% during the second quarter. Journey Strategic Wealth LLC now owns 6,747 shares of the financial services provider’s stock valued at $368,000 after purchasing an additional 210 shares during the last quarter. PenderFund Capital Management Ltd. increased its holdings in shares of Webster Financial by 4.0% in the first quarter. PenderFund Capital Management Ltd. now owns 5,578 shares of the financial services provider’s stock valued at $288,000 after purchasing an additional 215 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its position in Webster Financial by 56.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 829 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 298 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

Webster Financial Stock Performance

Shares of NYSE:WBS opened at $59.43 on Friday. The firm’s 50 day simple moving average is $57.73 and its 200 day simple moving average is $57.16. Webster Financial Corporation has a fifty-two week low of $39.43 and a fifty-two week high of $63.59. The company has a market capitalization of $9.59 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 0.50 and a beta of 1.13. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.85.

Webster Financial (NYSE:WBS) last issued its earnings results on Friday, October 17th. The financial services provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.52 by $0.02. The firm had revenue of $756.06 million during the quarter, compared to the consensus estimate of $725.22 million. Webster Financial had a net margin of 21.32% and a return on equity of 11.07%. During the same quarter in the prior year, the firm earned $1.34 earnings per share. As a group, sell-side analysts forecast that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, November 10th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, November 10th. Webster Financial’s dividend payout ratio (DPR) is presently 29.80%.

Insider Activity

In other news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $55.45, for a total transaction of $443,600.00. Following the transaction, the chief executive officer owned 231,872 shares in the company, valued at $12,857,302.40. The trade was a 3.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Elzbieta Cieslik sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $61.58, for a total value of $123,160.00. Following the completion of the transaction, the chief accounting officer owned 14,894 shares of the company’s stock, valued at $917,172.52. This represents a 11.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 11,000 shares of company stock worth $628,380. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Barclays lifted their target price on Webster Financial from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. TD Cowen assumed coverage on Webster Financial in a research report on Thursday, September 25th. They issued a “buy” rating and a $78.00 price objective for the company. Cantor Fitzgerald started coverage on shares of Webster Financial in a research report on Wednesday, September 10th. They set an “overweight” rating and a $70.00 target price on the stock. Wells Fargo & Company lowered their price target on shares of Webster Financial from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. Finally, Morgan Stanley increased their price objective on shares of Webster Financial from $64.00 to $77.00 and gave the company an “underperform” rating in a report on Monday, September 29th. Thirteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.85.

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.