111 Capital Trims Holdings in Webster Financial Corporation $WBS

Key Points

• 111 Capital reduced its stake in Webster Financial Corporation by 68%, ending the second quarter with 5,690 shares valued at approximately $311,000.
• Insider trading activity includes Jason A. Soto selling 2,500 shares and CEO John R. Ciulla selling 8,000 shares, indicating a decrease in their positions.
• Webster Financial recently declared a quarterly dividend of $0.40 per share, translating to an annualized yield of 2.6%.

111 Capital trimmed its stake in Webster Financial Corporation (NYSE:WBS - Free Report) by 68.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,690 shares of the financial services provider's stock after selling 12,086 shares during the period. 111 Capital's holdings in Webster Financial were worth $311,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in WBS. Picton Mahoney Asset Management purchased a new stake in shares of Webster Financial in the 1st quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Webster Financial by 327.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 739 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 566 shares during the period. TCTC Holdings LLC raised its stake in shares of Webster Financial by 118.4% in the 1st quarter. TCTC Holdings LLC now owns 832 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 451 shares during the period. Allworth Financial LP raised its stake in shares of Webster Financial by 43.7% in the 1st quarter. Allworth Financial LP now owns 941 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 286 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of Webster Financial by 166.1% in the 1st quarter. Bessemer Group Inc. now owns 1,027 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 641 shares during the period. 85.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Webster Financial

In other news, insider Jason A. Soto sold 2,500 shares of the company's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $61.21, for a total value of $153,025.00. Following the completion of the transaction, the insider owned 18,889 shares in the company, valued at approximately $1,156,195.69. This represents a 11.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John R. Ciulla sold 8,000 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $57.95, for a total transaction of $463,600.00. Following the completion of the transaction, the chief executive officer owned 239,872 shares of the company's stock, valued at approximately $13,900,582.40. The trade was a 3.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,445 shares of company stock worth $2,168,537 over the last ninety days. 0.54% of the stock is currently owned by insiders.

Webster Financial Trading Up 3.1%

NYSE WBS opened at $61.46 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.47. Webster Financial Corporation has a 52 week low of $39.43 and a 52 week high of $63.99. The stock has a market capitalization of $10.21 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 0.55 and a beta of 1.05. The firm has a 50 day moving average of $59.71 and a two-hundred day moving average of $54.63.

Webster Financial (NYSE:WBS - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.43 by $0.09. Webster Financial had a net margin of 20.06% and a return on equity of 10.84%. The company had revenue of $715.80 million during the quarter, compared to analysts' expectations of $716.59 million. During the same quarter in the previous year, the business posted $1.26 EPS. The firm's revenue was up 16.5% on a year-over-year basis. As a group, research analysts expect that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Monday, August 11th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.6%. The ex-dividend date was Monday, August 11th. Webster Financial's payout ratio is 32.45%.

Analyst Upgrades and Downgrades

WBS has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price target on shares of Webster Financial from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Citigroup lifted their price objective on shares of Webster Financial from $65.00 to $71.00 and gave the company a "buy" rating in a report on Friday, July 18th. TD Cowen started coverage on shares of Webster Financial in a report on Thursday, September 25th. They issued a "buy" rating and a $78.00 price objective for the company. Barclays lifted their price objective on shares of Webster Financial from $72.00 to $77.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Raymond James Financial lifted their price objective on shares of Webster Financial from $65.00 to $68.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Fourteen 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $68.67.

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.

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