Strs Ohio Cuts Position in Webster Financial Corporation $WBS

Strs Ohio lowered its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 89.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,001 shares of the financial services provider’s stock after selling 33,875 shares during the quarter. Strs Ohio’s holdings in Webster Financial were worth $238,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Curi Capital LLC lifted its position in shares of Webster Financial by 0.3% during the 2nd quarter. Curi Capital LLC now owns 68,500 shares of the financial services provider’s stock valued at $3,740,000 after buying an additional 182 shares in the last quarter. BCGM Wealth Management LLC lifted its holdings in Webster Financial by 1.2% during the second quarter. BCGM Wealth Management LLC now owns 16,161 shares of the financial services provider’s stock valued at $882,000 after purchasing an additional 186 shares in the last quarter. Journey Strategic Wealth LLC grew its position in shares of Webster Financial by 3.2% in 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 period. Wedmont Private Capital grew its position in shares of Webster Financial by 2.9% in the third quarter. Wedmont Private Capital now owns 7,548 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 215 shares during the period. Finally, F m Investments LLC increased its stake in shares of Webster Financial by 2.8% during the second quarter. F m Investments LLC now owns 8,243 shares of the financial services provider’s stock worth $450,000 after purchasing an additional 222 shares in the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WBS has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Webster Financial from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Weiss Ratings restated a “buy (b-)” rating on shares of Webster Financial in a research report on Monday, December 29th. UBS Group reiterated a “buy” rating on shares of Webster Financial in a research report on Tuesday, January 6th. Wells Fargo & Company decreased their price objective on Webster Financial from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Finally, Truist Financial upped their target price on shares of Webster Financial from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Thirteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.46.

Webster Financial Stock Up 0.4%

Shares of NYSE:WBS opened at $66.05 on Tuesday. Webster Financial Corporation has a 52-week low of $39.43 and a 52-week high of $67.43. The stock has a market cap of $10.65 billion, a P/E ratio of 11.18, a PEG ratio of 0.85 and a beta of 1.07. The business has a fifty day moving average of $63.67 and a two-hundred day moving average of $60.43. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Friday, January 23rd. The financial services provider reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.07. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. The firm had revenue of $760.48 million for the quarter, compared to analysts’ expectations of $731.95 million. During the same quarter in the previous year, the company posted $1.43 EPS. On average, research analysts expect that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Monday, February 9th will be issued a $0.40 dividend. The ex-dividend date is Monday, February 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.4%. Webster Financial’s dividend payout ratio is currently 27.07%.

Insiders Place Their Bets

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $55.45, for a total transaction of $443,600.00. Following the completion of the sale, the chief executive officer owned 231,872 shares of the company’s stock, valued at $12,857,302.40. This trade represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.54% of the company’s stock.

About Webster Financial

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.