56,629 Shares in Webster Financial Co. (NYSE:WBS) Purchased by Cinctive Capital Management LP

Cinctive Capital Management LP purchased a new stake in shares of Webster Financial Co. (NYSE:WBS) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 56,629 shares of the financial services provider’s stock, valued at approximately $2,639,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WBS. Dimensional Fund Advisors LP grew its stake in shares of Webster Financial by 28.0% during the second quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock valued at $240,687,000 after buying an additional 1,206,575 shares during the last quarter. Earnest Partners LLC boosted its holdings in Webster Financial by 0.4% during the 2nd quarter. Earnest Partners LLC now owns 3,086,111 shares of the financial services provider’s stock valued at $134,524,000 after acquiring an additional 13,487 shares during the period. American Century Companies Inc. grew its position in Webster Financial by 12.9% in the 2nd quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock valued at $115,096,000 after acquiring an additional 301,935 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Webster Financial by 11.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,874,644 shares of the financial services provider’s stock worth $87,377,000 after purchasing an additional 191,894 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Webster Financial by 8.1% during the second quarter. Sei Investments Co. now owns 1,833,761 shares of the financial services provider’s stock worth $79,934,000 after purchasing an additional 137,242 shares during the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Trading Down 1.3 %

WBS opened at $60.96 on Tuesday. The firm has a market cap of $10.45 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 0.91 and a beta of 1.29. The stock has a fifty day moving average price of $52.93 and a 200-day moving average price of $47.61. Webster Financial Co. has a 12 month low of $39.33 and a 12 month high of $63.99. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.01). The business had revenue of $647.62 million for the quarter, compared to analysts’ expectations of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same quarter in the prior year, the company posted $1.55 EPS. As a group, equities research analysts anticipate that Webster Financial Co. will post 5.24 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial’s payout ratio is currently 36.28%.

Insider Buying and Selling

In related news, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $59.33, for a total value of $474,640.00. Following the completion of the transaction, the chief executive officer now owns 218,924 shares in the company, valued at $12,988,760.92. This trade represents a 3.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lauren States sold 1,650 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $60.60, for a total value of $99,990.00. Following the sale, the director now owns 15,023 shares in the company, valued at approximately $910,393.80. The trade was a 9.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,750 shares of company stock worth $2,074,367 in the last three months. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Royal Bank of Canada upped their price target on shares of Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Wells Fargo & Company upped their target price on shares of Webster Financial from $50.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Barclays lifted their price target on shares of Webster Financial from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. dropped their price objective on Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Finally, Morgan Stanley reduced their price objective on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Webster Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.85.

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.