Truist Financial Corp Cuts Stock Holdings in Webster Financial Co. (NYSE:WBS)

Truist Financial Corp lessened its holdings in Webster Financial Co. (NYSE:WBS) by 8.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 135,035 shares of the financial services provider’s stock after selling 12,152 shares during the period. Truist Financial Corp owned about 0.08% of Webster Financial worth $6,854,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WBS. DekaBank Deutsche Girozentrale boosted its position in Webster Financial by 1.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 19,924 shares of the financial services provider’s stock valued at $785,000 after acquiring an additional 263 shares in the last quarter. Mariner LLC grew its stake in Webster Financial by 2.4% in the third quarter. Mariner LLC now owns 13,812 shares of the financial services provider’s stock valued at $557,000 after purchasing an additional 320 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in Webster Financial by 2.5% in the third quarter. Teacher Retirement System of Texas now owns 13,537 shares of the financial services provider’s stock worth $546,000 after purchasing an additional 332 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Webster Financial by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 76,239 shares of the financial services provider’s stock valued at $3,073,000 after buying an additional 390 shares during the last quarter. Finally, John G Ullman & Associates Inc. boosted its holdings in shares of Webster Financial by 1.3% in the 4th quarter. John G Ullman & Associates Inc. now owns 31,850 shares of the financial services provider’s stock valued at $1,617,000 after buying an additional 400 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors.

Webster Financial Stock Up 1.2 %

WBS stock opened at $44.92 on Friday. The firm’s fifty day simple moving average is $47.62 and its 200-day simple moving average is $46.66. The company has a market capitalization of $7.72 billion, a P/E ratio of 9.20, a price-to-earnings-growth ratio of 0.40 and a beta of 1.35. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.86 and a quick ratio of 0.86. Webster Financial Co. has a 12 month low of $31.03 and a 12 month high of $53.39.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). The business had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $680.72 million. Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The firm’s revenue was up .2% on a year-over-year basis. During the same period last year, the company earned $1.49 earnings per share. As a group, equities research analysts forecast that Webster Financial Co. will post 5.62 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, May 16th. Stockholders of record on Monday, May 6th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Friday, May 3rd. Webster Financial’s dividend payout ratio (DPR) is currently 32.79%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Webster Financial from $64.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Morgan Stanley boosted their price objective on shares of Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Citigroup reduced their price objective on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Finally, Raymond James reiterated an “outperform” rating and set a $60.00 price objective on shares of Webster Financial in a research note on Tuesday, March 26th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $56.23.

Insider Activity

In related news, insider Daniel Bley sold 2,280 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $44.80, for a total transaction of $102,144.00. Following the sale, the insider now directly owns 28,693 shares of the company’s stock, valued at $1,285,446.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.88% of the company’s stock.

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.