Oppenheimer Asset Management Inc. Sells 766 Shares of Webster Financial Co. (NYSE:WBS)

Oppenheimer Asset Management Inc. decreased its position in Webster Financial Co. (NYSE:WBS) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,927 shares of the financial services provider’s stock after selling 766 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Webster Financial were worth $1,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in shares of Webster Financial in the 3rd quarter worth approximately $27,000. UMB Bank n.a. lifted its stake in Webster Financial by 340.7% in the third quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 460 shares during the last quarter. Hantz Financial Services Inc. bought a new position in shares of Webster Financial during the second quarter valued at about $32,000. Mather Group LLC. increased its holdings in shares of Webster Financial by 7,650.0% in the second quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock worth $54,000 after buying an additional 1,224 shares during the period. Finally, NBC Securities Inc. lifted its stake in shares of Webster Financial by 117.9% in the 3rd quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 686 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Insider Transactions at Webster Financial

In other Webster Financial news, CAO Albert Jen-Wen Wang sold 4,000 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $52.43, for a total value of $209,720.00. Following the sale, the chief accounting officer now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Javier L. Evans sold 10,137 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 22,657 shares of the company’s stock, valued at $1,300,738.37. The trade was a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,100 shares of company stock valued at $1,202,237 in the last ninety days. 0.88% of the stock is currently owned by corporate insiders.

Webster Financial Price Performance

Shares of WBS stock opened at $60.07 on Monday. 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 stock has a market cap of $10.30 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 0.89 and a beta of 1.27. The business’s fifty day moving average is $49.79 and its 200 day moving average is $46.51. Webster Financial Co. has a twelve month low of $39.33 and a twelve month high of $61.12.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The business had revenue of $647.62 million during the quarter, compared to the consensus estimate of $677.72 million. During the same quarter in the previous year, the business earned $1.55 earnings per share. Research analysts expect that Webster Financial Co. will post 5.24 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.60 annualized dividend and a dividend yield of 2.66%. Webster Financial’s payout ratio is 36.28%.

Analysts Set New Price Targets

A number of brokerages have commented on WBS. StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Wells Fargo & Company increased their price target on shares of Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Royal Bank of Canada upped their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Morgan Stanley reduced their price target on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. dropped their price objective on Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.