Citigroup Inc. Cuts Position in Webster Financial Co. (NYSE:WBS)

Citigroup Inc. trimmed its holdings in shares of Webster Financial Co. (NYSE:WBS) by 8.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 198,012 shares of the financial services provider’s stock after selling 18,873 shares during the period. Citigroup Inc.’s holdings in Webster Financial were worth $9,229,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in Webster Financial by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,468,942 shares of the financial services provider’s stock worth $68,467,000 after purchasing an additional 34,373 shares during the period. King Luther Capital Management Corp boosted its position in shares of Webster Financial by 1.3% in the third quarter. King Luther Capital Management Corp now owns 100,502 shares of the financial services provider’s stock worth $4,684,000 after buying an additional 1,292 shares during the period. First Horizon Advisors Inc. grew its stake in shares of Webster Financial by 45.9% in the third quarter. First Horizon Advisors Inc. now owns 1,398 shares of the financial services provider’s stock valued at $65,000 after buying an additional 440 shares in the last quarter. Pathstone Holdings LLC raised its holdings in shares of Webster Financial by 8.3% during the 3rd quarter. Pathstone Holdings LLC now owns 78,342 shares of the financial services provider’s stock valued at $3,652,000 after buying an additional 5,993 shares during the period. Finally, Stieven Capital Advisors L.P. lifted its position in Webster Financial by 16.9% during the 3rd quarter. Stieven Capital Advisors L.P. now owns 602,788 shares of the financial services provider’s stock worth $28,096,000 after acquiring an additional 87,000 shares in the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Albert Jen-Wen Wang sold 4,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 14,273 shares of the company’s stock, valued at $748,333.39. This represents a 21.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daniel Bley sold 3,463 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $52.10, for a total transaction of $180,422.30. Following the completion of the transaction, the insider now owns 19,529 shares of the company’s stock, valued at $1,017,460.90. This represents a 15.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,750 shares of company stock valued at $2,074,367 over the last three months. Company insiders own 0.88% of the company’s stock.

Webster Financial Stock Down 0.4 %

Shares of NYSE:WBS opened at $61.81 on Friday. Webster Financial Co. has a 1-year low of $39.33 and a 1-year high of $63.99. The company’s fifty day moving average is $52.66 and its two-hundred day moving average is $47.48. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $10.59 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 0.92 and a beta of 1.27.

Webster Financial (NYSE:WBS) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the business earned $1.55 EPS. Equities analysts anticipate that Webster Financial Co. will post 5.24 EPS for the current year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were paid a dividend of $0.40 per share. The ex-dividend date was Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a yield of 2.59%. Webster Financial’s payout ratio is currently 36.28%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WBS shares. StockNews.com downgraded shares of Webster Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 18th. Morgan Stanley lowered their price target on shares of Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, September 30th. Stephens set a $58.00 price objective on shares of Webster Financial in a report on Thursday, October 17th. Wedbush raised their target price on Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company increased their price target on Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.85.

Webster Financial Company 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.