Bard Financial Services Inc. Lowers Position in Webster Financial Corporation $WBS

Key Points

• Bard Financial Services Inc. reduced its position in Webster Financial Corporation by 14.7% in Q2, holding 29,050 shares valued at $1,586,000 after selling 5,000 shares.
• Analyst upgrades for Webster Financial include raised target prices from Citigroup to $71.00 and Barclays to $77.00, with an average rating of "Moderate Buy" among 14 analysts.
• Webster Financial recently declared a quarterly dividend of $0.40, resulting in an annualized dividend yield of 2.6% and demonstrating a dividend payout ratio of 32.45%.

Bard Financial Services Inc. lessened its position in shares of Webster Financial Corporation (NYSE:WBS - Free Report) by 14.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 29,050 shares of the financial services provider's stock after selling 5,000 shares during the quarter. Bard Financial Services Inc.'s holdings in Webster Financial were worth $1,586,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Webster Financial by 7.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,108,082 shares of the financial services provider's stock worth $366,408,000 after buying an additional 487,264 shares during the period. Invesco Ltd. grew its holdings in Webster Financial by 3.1% in the first quarter. Invesco Ltd. now owns 5,049,297 shares of the financial services provider's stock worth $260,291,000 after purchasing an additional 153,236 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Webster Financial by 0.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,597,943 shares of the financial services provider's stock worth $237,025,000 after purchasing an additional 42,406 shares during the period. American Century Companies Inc. grew its holdings in Webster Financial by 1.6% in the first quarter. American Century Companies Inc. now owns 3,015,647 shares of the financial services provider's stock worth $155,457,000 after purchasing an additional 48,942 shares during the period. Finally, Systematic Financial Management LP grew its stake in shares of Webster Financial by 1.0% in the 1st quarter. Systematic Financial Management LP now owns 1,005,441 shares of the financial services provider's stock valued at $51,830,000 after buying an additional 9,626 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Elzbieta Cieslik sold 2,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $61.58, for a total transaction of $123,160.00. Following the sale, the chief accounting officer owned 14,894 shares of the company's stock, valued at approximately $917,172.52. This represents a 11.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $57.95, for a total value of $463,600.00. Following the sale, the chief executive officer directly owned 239,872 shares in the company, valued at $13,900,582.40. This trade represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,445 shares of company stock valued at $2,168,537. 0.54% of the stock is currently owned by corporate insiders.

Webster Financial Stock Performance

Shares of NYSE WBS traded down $0.81 during trading on Friday, reaching $61.51. 613,808 shares of the stock traded hands, compared to its average volume of 1,301,124. Webster Financial Corporation has a 52-week low of $39.43 and a 52-week high of $63.99. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.86 and a quick ratio of 0.85. The company has a 50-day moving average of $59.69 and a 200-day moving average of $53.81. The stock has a market capitalization of $10.22 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 0.56 and a beta of 1.07.

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

Webster Financial Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently commented on the company. Raymond James Financial raised their target price on Webster Financial from $65.00 to $68.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Cantor Fitzgerald assumed coverage on Webster Financial in a research note on Wednesday, September 10th. They issued an "overweight" rating and a $70.00 price objective for the company. Wells Fargo & Company lifted their price target on shares of Webster Financial from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Citigroup lifted their price target on shares of Webster Financial from $65.00 to $71.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Keefe, Bruyette & Woods 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. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Webster Financial currently has an average rating of "Moderate Buy" and a consensus target price of $67.00.

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.