Elk Creek Partners LLC decreased its holdings in shares of Webster Financial Co. (NYSE:WBS) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 64,507 shares of the financial services provider’s stock after selling 1,683 shares during the period. Elk Creek Partners LLC owned approximately 0.07% of Webster Financial worth $3,390,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Artisan Partners Limited Partnership raised its holdings in Webster Financial by 5.6% during the third quarter. Artisan Partners Limited Partnership now owns 735,294 shares of the financial services provider’s stock worth $38,640,000 after purchasing an additional 39,259 shares in the last quarter. Brown Advisory Inc. purchased a new position in Webster Financial during the third quarter worth about $29,151,000. BB&T Securities LLC raised its holdings in Webster Financial by 119.7% during the third quarter. BB&T Securities LLC now owns 8,930 shares of the financial services provider’s stock worth $469,000 after purchasing an additional 4,865 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Webster Financial by 38.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 491,173 shares of the financial services provider’s stock worth $25,812,000 after purchasing an additional 137,635 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Webster Financial during the third quarter worth about $465,000. Institutional investors and hedge funds own 93.52% of the company’s stock.
Shares of Webster Financial Co. (NYSE:WBS) traded down $0.43 during trading on Monday, reaching $56.94. 649,000 shares of the company’s stock were exchanged, compared to its average volume of 695,511. Webster Financial Co. has a 12 month low of $44.04 and a 12 month high of $58.78. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $5,242.74, a PE ratio of 22.51, a PEG ratio of 2.74 and a beta of 1.23.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 7th were issued a $0.26 dividend. The ex-dividend date was Monday, November 6th. This represents a $1.04 dividend on an annualized basis and a yield of 1.83%. Webster Financial’s dividend payout ratio (DPR) is presently 41.11%.
In other news, Chairman James Copenhaver Smith sold 8,943 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $55.93, for a total transaction of $500,181.99. Following the completion of the transaction, the chairman now directly owns 316,103 shares of the company’s stock, valued at approximately $17,679,640.79. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Karen R. Osar sold 12,923 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $54.70, for a total transaction of $706,888.10. Following the transaction, the director now directly owns 36,984 shares of the company’s stock, valued at $2,023,024.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,107 shares of company stock valued at $1,988,452. Corporate insiders own 2.20% of the company’s stock.
Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods reissued a “buy” rating and set a $63.00 price target on shares of Webster Financial in a report on Friday, October 20th. Barclays set a $55.00 price target on shares of Webster Financial and gave the stock a “hold” rating in a report on Friday, October 20th. Wells Fargo & Company increased their price target on shares of Webster Financial from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, October 20th. Boenning Scattergood reissued a “hold” rating on shares of Webster Financial in a report on Friday, October 20th. Finally, Deutsche Bank increased their price target on shares of Webster Financial from $51.00 to $53.00 and gave the stock a “hold” rating in a report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $55.22.
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About Webster Financial
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.
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