Webster Financial Corporation $WBS Shares Sold by Nitorum Capital L.P.

Key Points

• Nitorum Capital L.P. sold 60,673 shares of Webster Financial Corporation, reducing its holdings by 14.6%, and now owns approximately 353,942 shares, valued at $18.25 million.
• Webster Financial recently reported quarterly earnings of $1.52 per share, exceeding analysts' expectations, and its year-over-year revenue grew by 16.5% to $715.80 million.
• The company announced a quarterly dividend of $0.40 per share, translating to an annualized yield of 2.5%, with a dividend payout ratio of 32.45%.

Nitorum Capital L.P. reduced its holdings in shares of Webster Financial Corporation (NYSE:WBS - Free Report) by 14.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 353,942 shares of the financial services provider's stock after selling 60,673 shares during the quarter. Webster Financial makes up 2.6% of Nitorum Capital L.P.'s investment portfolio, making the stock its 17th largest position. Nitorum Capital L.P. owned approximately 0.21% of Webster Financial worth $18,246,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new position in Webster Financial during the 1st quarter valued at about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Webster Financial by 327.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 739 shares of the financial services provider's stock worth $38,000 after buying an additional 566 shares in the last quarter. TCTC Holdings LLC grew its holdings in shares of Webster Financial by 118.4% during the first quarter. TCTC Holdings LLC now owns 832 shares of the financial services provider's stock worth $43,000 after buying an additional 451 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Webster Financial by 43.7% during the first quarter. Allworth Financial LP now owns 941 shares of the financial services provider's stock worth $45,000 after buying an additional 286 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Webster Financial by 171.2% during the first quarter. Versant Capital Management Inc now owns 1,025 shares of the financial services provider's stock worth $53,000 after buying an additional 647 shares in the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on WBS shares. UBS Group reiterated a "buy" rating and set a $69.00 price target on shares of Webster Financial in a report on Wednesday, July 9th. JPMorgan Chase & Co. lifted their price target on shares of Webster Financial from $55.00 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Wells Fargo & Company lifted their price target on shares of Webster Financial from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Raymond James Financial lifted their price target on shares of Webster Financial from $65.00 to $68.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Finally, Barclays lifted their price target on shares of Webster Financial from $72.00 to $77.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $66.77.

Webster Financial Trading Down 1.4%

Shares of WBS traded down $0.89 during mid-day trading on Friday, hitting $62.03. The company had a trading volume of 1,209,966 shares, compared to its average volume of 987,125. The business's 50-day simple moving average is $59.12 and its 200-day simple moving average is $53.43. 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 1-year low of $39.43 and a 1-year high of $63.99. The stock has a market cap of $10.31 billion, a PE ratio of 12.58, a P/E/G ratio of 0.57 and a beta of 1.07.

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

Webster Financial Dividend Announcement

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

Insider Activity

In other Webster Financial news, insider Jason A. Soto sold 2,500 shares of Webster Financial stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $61.21, for a total transaction of $153,025.00. Following the transaction, the insider directly owned 18,889 shares of the company's stock, valued at $1,156,195.69. The trade was a 11.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 239,872 shares in the company, valued at approximately $13,900,582.40. This trade represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,445 shares of company stock valued at $1,983,757 over the last quarter. 0.54% of the stock is owned by insiders.

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.