Webster Financial Co. (NYSE:WBS) Stake Trimmed by Pzena Investment Management LLC

Pzena Investment Management LLC reduced its stake in Webster Financial Co. (NYSE:WBS - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,998,370 shares of the financial services provider's stock after selling 77,351 shares during the period. Pzena Investment Management LLC owned approximately 1.16% of Webster Financial worth $101,437,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in shares of Webster Financial by 29.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider's stock worth $57,000 after buying an additional 255 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Webster Financial by 1.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 19,924 shares of the financial services provider's stock worth $785,000 after buying an additional 263 shares in the last quarter. Spire Wealth Management grew its stake in shares of Webster Financial by 79.1% in the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider's stock worth $31,000 after buying an additional 268 shares in the last quarter. Mariner LLC grew its stake in shares of Webster Financial by 2.4% in the 3rd quarter. Mariner LLC now owns 13,812 shares of the financial services provider's stock worth $557,000 after buying an additional 320 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its stake in shares of Webster Financial by 2.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 13,537 shares of the financial services provider's stock worth $546,000 after buying an additional 332 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors.

Webster Financial Stock Down 1.9 %

Shares of NYSE:WBS traded down $0.86 during trading hours on Wednesday, hitting $45.12. The company's stock had a trading volume of 592,905 shares, compared to its average volume of 1,166,652. Webster Financial Co. has a 52 week low of $34.85 and a 52 week high of $53.39. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $7.74 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 0.42 and a beta of 1.35. The firm's fifty day moving average price is $47.02 and its 200 day moving average price is $47.43.

Webster Financial (NYSE:WBS - Get Free Report) last posted its quarterly earnings results 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). Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The business had revenue of $667.10 million during the quarter, compared to the consensus estimate of $680.72 million. During the same quarter in the prior year, the firm posted $1.49 EPS. The company's revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts expect that Webster Financial Co. will post 5.57 EPS for the current year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, May 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.55%. Webster Financial's dividend payout ratio (DPR) is presently 32.79%.

Insider Buying and Selling

In related news, insider Daniel Bley sold 2,280 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 28,693 shares in the company, valued at approximately $1,285,446.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Keefe, Bruyette & Woods dropped their price target 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. StockNews.com raised shares of Webster Financial from a "sell" rating to a "hold" rating in a research note on Friday, April 26th. Citigroup dropped their price target 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. Morgan Stanley lifted their price target 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. Finally, Raymond James reaffirmed an "outperform" rating and set a $60.00 price target 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 assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $56.23.

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.