Prudential Financial Inc. Has $2.71 Million Holdings in Webster Financial Co. (WBS)

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Prudential Financial Inc. cut its position in shares of Webster Financial Co. (NYSE:WBS) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,958 shares of the financial services provider’s stock after selling 3,580 shares during the quarter. Prudential Financial Inc. owned 0.06% of Webster Financial worth $2,709,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of WBS. Enlightenment Research LLC purchased a new stake in Webster Financial during the fourth quarter valued at about $25,000. Oregon Public Employees Retirement Fund increased its holdings in shares of Webster Financial by 4,934.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,816,632 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 1,780,548 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Webster Financial in the 4th quarter valued at about $84,000. Belpointe Asset Management LLC acquired a new position in shares of Webster Financial in the 3rd quarter valued at about $124,000. Finally, Twin Tree Management LP increased its holdings in shares of Webster Financial by 105.3% in the 3rd quarter. Twin Tree Management LP now owns 2,149 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 42,549 shares during the period. 90.60% of the stock is owned by institutional investors.

In related news, Director James Copenhaver Smith sold 55,000 shares of the stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $55.06, for a total value of $3,028,300.00. Following the transaction, the director now owns 310,984 shares in the company, valued at $17,122,779.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Joseph Crawford sold 1,207 shares of the stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $55.85, for a total value of $67,410.95. Following the completion of the transaction, the director now owns 18,008 shares in the company, valued at approximately $1,005,746.80. The disclosure for this sale can be found here. Insiders sold 102,066 shares of company stock worth $5,569,345 in the last 90 days. 1.96% of the stock is currently owned by corporate insiders.

A number of equities analysts have recently weighed in on WBS shares. Sandler O’Neill upgraded Webster Financial from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Monday, December 10th. Boenning Scattergood reiterated a “hold” rating on shares of Webster Financial in a report on Thursday, January 24th. ValuEngine downgraded Webster Financial from a “hold” rating to a “sell” rating in a report on Tuesday, December 11th. Finally, Zacks Investment Research downgraded Webster Financial from a “buy” rating to a “hold” rating in a report on Sunday, January 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $61.29.

Shares of WBS opened at $55.20 on Friday. The stock has a market capitalization of $5.12 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.67 and a beta of 1.21. Webster Financial Co. has a fifty-two week low of $45.38 and a fifty-two week high of $69.63. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.83 and a current ratio of 0.83.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Thursday, January 24th. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.03. Webster Financial had a return on equity of 13.36% and a net margin of 26.94%. The firm had revenue of $310.30 million for the quarter, compared to the consensus estimate of $305.55 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. The firm’s revenue was up 14.5% on a year-over-year basis. On average, sell-side analysts expect that Webster Financial Co. will post 4.16 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 26th. Investors of record on Tuesday, February 12th were issued a $0.33 dividend. The ex-dividend date was Monday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 2.39%. Webster Financial’s dividend payout ratio is currently 35.29%.

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About Webster Financial

Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides financial services to individuals, families, and businesses in the United States. It operates through four segments: Commercial Banking, Community Banking, HSA Bank, and Private Banking.

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Institutional Ownership by Quarter for Webster Financial (NYSE:WBS)

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