Icon Advisers Inc. Co. decreased its holdings in Webster Financial Co. (NYSE:WBS) by 15.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,100 shares of the financial services provider’s stock after selling 7,400 shares during the quarter. Icon Advisers Inc. Co.’s holdings in Webster Financial were worth $1,963,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. Hilton Capital Management LLC purchased a new position in Webster Financial during the 1st quarter worth approximately $54,000. Harvest Group Wealth Management LLC purchased a new position in Webster Financial during the 1st quarter worth approximately $58,000. Advisory Services Network LLC grew its position in Webster Financial by 10.1% during the 1st quarter. Advisory Services Network LLC now owns 2,988 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 275 shares in the last quarter. Cetera Advisor Networks LLC purchased a new position in Webster Financial during the 1st quarter worth approximately $200,000. Finally, YHB Investment Advisors Inc. grew its position in Webster Financial by 13.4% during the 1st quarter. YHB Investment Advisors Inc. now owns 4,819 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 571 shares in the last quarter. Hedge funds and other institutional investors own 90.48% of the company’s stock.
Shares of NYSE:WBS traded up $1.16 during trading on Friday, reaching $45.93. 865,900 shares of the company traded hands, compared to its average volume of 780,775. The firm has a fifty day simple moving average of $48.08 and a 200 day simple moving average of $50.90. The firm has a market cap of $4.24 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 1.40 and a beta of 1.25. Webster Financial Co. has a 1-year low of $43.95 and a 1-year high of $68.62. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.67.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Monday, August 5th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Friday, August 2nd. Webster Financial’s dividend payout ratio (DPR) is currently 42.78%.
In related news, EVP Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $51.45, for a total value of $102,900.00. Following the completion of the sale, the executive vice president now owns 18,654 shares of the company’s stock, valued at approximately $959,748.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Joseph Crawford sold 1,000 shares of Webster Financial stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $49.49, for a total transaction of $49,490.00. Following the completion of the sale, the director now directly owns 16,099 shares of the company’s stock, valued at approximately $796,739.51. The disclosure for this sale can be found here. Insiders have sold a total of 4,000 shares of company stock valued at $203,670 in the last three months. Company insiders own 1.53% of the company’s stock.
Several equities analysts have weighed in on the stock. Morgan Stanley upgraded shares of Webster Financial from an “underweight” rating to an “equal weight” rating and set a $51.00 price objective on the stock in a research report on Monday, July 1st. Boenning Scattergood reissued a “neutral” rating on shares of Webster Financial in a research note on Friday, July 19th. Zacks Investment Research raised shares of Webster Financial from a “sell” rating to a “hold” rating and set a $49.00 target price for the company in a research note on Friday, July 5th. Finally, Compass Point started coverage on shares of Webster Financial in a research note on Tuesday, May 7th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $56.25.
Webster Financial Profile
Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.
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