Handelsbanken Fonder AB Has $2.29 Million Stock Position in Webster Financial Corporation $WBS

Handelsbanken Fonder AB cut its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,893 shares of the financial services provider’s stock after selling 1,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Webster Financial were worth $2,287,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Picton Mahoney Asset Management acquired a new stake in shares of Webster Financial in the first quarter worth $25,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Webster Financial by 327.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 739 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 566 shares during the period. TCTC Holdings LLC grew its position in Webster Financial by 118.4% in the 1st quarter. TCTC Holdings LLC now owns 832 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 451 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Webster Financial by 3,628.6% during the 2nd quarter. IFP Advisors Inc now owns 783 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 762 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in shares of Webster Financial by 56.1% during the second quarter. Parkside Financial Bank & Trust now owns 829 shares of the financial services provider’s stock valued at $45,000 after buying an additional 298 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $55.45, for a total value of $443,600.00. Following the transaction, the chief executive officer directly owned 231,872 shares of the company’s stock, valued at $12,857,302.40. The trade was a 3.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James Mi Griffin sold 807 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $62.14, for a total value of $50,146.98. Following the sale, the insider owned 12,556 shares in the company, valued at approximately $780,229.84. This trade represents a 6.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 11,807 shares of company stock worth $678,527. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Raymond James Financial reissued an “outperform” rating and set a $65.00 target price (down from $68.00) on shares of Webster Financial in a research report on Monday, October 20th. Barclays lifted their price objective on Webster Financial from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Cantor Fitzgerald started coverage on Webster Financial in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $70.00 target price for the company. Truist Financial decreased their price target on shares of Webster Financial from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Monday, October 20th. Finally, Morgan Stanley boosted their price target on shares of Webster Financial from $64.00 to $77.00 and gave the company an “underperform” rating in a report on Monday, September 29th. Thirteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Webster Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.85.

Webster Financial Stock Performance

Webster Financial stock opened at $59.82 on Wednesday. The firm has a market capitalization of $9.65 billion, a P/E ratio of 11.14, a P/E/G ratio of 0.50 and a beta of 1.13. The stock has a fifty day moving average price of $57.81 and a two-hundred day moving average price of $57.13. Webster Financial Corporation has a 52-week low of $39.43 and a 52-week high of $63.59. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.85.

Webster Financial (NYSE:WBS) last posted its earnings results on Friday, October 17th. The financial services provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.02. The business had revenue of $756.06 million for the quarter, compared to analyst estimates of $725.22 million. Webster Financial had a net margin of 21.32% and a return on equity of 11.07%. During the same quarter in the prior year, the firm earned $1.34 EPS. As a group, analysts anticipate that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.60 annualized dividend and a dividend yield of 2.7%. Webster Financial’s dividend payout ratio (DPR) is presently 29.80%.

About Webster Financial

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.