Webster Financial Co. (NYSE:WBS) Stock Position Reduced by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its position in Webster Financial Co. (NYSE:WBS) by 20.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 694,263 shares of the financial services provider’s stock after selling 175,546 shares during the quarter. Fisher Asset Management LLC owned approximately 0.40% of Webster Financial worth $35,241,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in WBS. NBC Securities Inc. bought a new stake in Webster Financial during the third quarter valued at $32,000. Bruce G. Allen Investments LLC bought a new stake in shares of Webster Financial during the 4th quarter valued at about $42,000. GAMMA Investing LLC acquired a new stake in Webster Financial during the fourth quarter worth about $69,000. Headlands Technologies LLC bought a new position in Webster Financial in the fourth quarter worth about $127,000. Finally, Covestor Ltd boosted its stake in Webster Financial by 17.0% in the third quarter. Covestor Ltd now owns 3,529 shares of the financial services provider’s stock valued at $142,000 after acquiring an additional 513 shares during the period. 85.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WBS has been the topic of several recent research reports. Morgan Stanley raised their price target on Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Royal Bank of Canada reduced their price target on shares of Webster Financial from $57.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Bank of America began coverage on shares of Webster Financial in a report on Thursday, January 11th. They issued a “buy” rating and a $60.00 price objective on the stock. Barclays reduced their target price on shares of Webster Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Finally, Raymond James restated an “outperform” rating and issued a $60.00 price target on shares of Webster Financial in a research note on Tuesday, March 26th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.23.

Insider Transactions at Webster Financial

In related news, insider Daniel Bley sold 2,280 shares of the 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 sale, the insider now directly owns 28,693 shares of the company’s stock, valued at $1,285,446.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.88% of the company’s stock.

Webster Financial Price Performance

Shares of NYSE:WBS opened at $44.92 on Friday. The stock’s 50 day moving average price is $47.58 and its 200 day moving average price is $46.74. 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 stock has a market cap of $7.72 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 0.40 and a beta of 1.35. Webster Financial Co. has a 12 month low of $31.03 and a 12 month high of $53.39.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The firm had revenue of $667.10 million during the quarter, compared to the consensus estimate of $680.72 million. During the same period in the prior year, the firm posted $1.49 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts anticipate that Webster Financial Co. will post 5.62 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.56%. Webster Financial’s dividend payout ratio (DPR) is 32.79%.

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.