Cinctive Capital Management LP Acquires New Position in Webster Financial Co. (NYSE:WBS)

Cinctive Capital Management LP bought a new position in Webster Financial Co. (NYSE:WBS - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 56,629 shares of the financial services provider's stock, valued at approximately $2,639,000.

Other hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of Webster Financial in the 3rd quarter valued at approximately $27,000. UMB Bank n.a. raised its holdings in shares of Webster Financial by 340.7% in the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 460 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of Webster Financial in the 2nd quarter worth approximately $32,000. Brooklyn Investment Group purchased a new stake in shares of Webster Financial in the 3rd quarter worth approximately $53,000. Finally, Mather Group LLC. boosted its stake in shares of Webster Financial by 7,650.0% during the second quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 1,224 shares in the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Webster Financial

In related news, Director Lauren States sold 1,650 shares of the company's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $60.60, for a total transaction of $99,990.00. Following the completion of the transaction, the director now owns 15,023 shares in the company, valued at $910,393.80. This represents a 9.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of Webster Financial stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $52.43, for a total value of $209,720.00. Following the completion of the sale, the chief accounting officer now owns 14,273 shares in the company, valued at approximately $748,333.39. The trade was a 21.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,750 shares of company stock worth $2,074,367 in the last 90 days. Corporate insiders own 0.72% of the company's stock.

Webster Financial Stock Performance

NYSE:WBS traded down $0.44 during mid-day trading on Tuesday, hitting $60.50. The company's stock had a trading volume of 301,032 shares, compared to its average volume of 1,248,405. The business's fifty day moving average is $53.20 and its two-hundred day moving average is $47.71. The stock has a market cap of $10.37 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 0.91 and a beta of 1.29. Webster Financial Co. has a 1 year low of $39.33 and a 1 year high of $63.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86.

Webster Financial (NYSE:WBS - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.01). The company 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 business posted $1.55 earnings per share. Analysts anticipate that Webster Financial Co. will post 5.24 EPS for the current fiscal year.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial's payout ratio is currently 36.28%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on WBS shares. Royal Bank of Canada lifted their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the stock an "outperform" rating in a research report on Friday, October 18th. Wells Fargo & Company raised their price objective on Webster Financial from $60.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Barclays upped their target price on Webster Financial from $60.00 to $63.00 and gave the company an "overweight" rating in a research report on Friday, October 18th. StockNews.com downgraded Webster Financial from a "hold" rating to a "sell" rating in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Webster Financial from $58.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Webster Financial presently has a consensus rating of "Moderate Buy" and an average price target of $58.62.

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.