Amalgamated Bank Sells 25,553 Shares of Webster Financial Co. (NYSE:WBS)

Amalgamated Bank reduced its stake in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 23.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,778 shares of the financial services provider's stock after selling 25,553 shares during the period. Amalgamated Bank's holdings in Webster Financial were worth $3,812,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Webster Financial by 0.3% in the first quarter. Vanguard Group Inc. now owns 17,926,270 shares of the financial services provider's stock worth $910,117,000 after acquiring an additional 54,841 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Webster Financial by 1.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,237,482 shares of the financial services provider's stock worth $316,678,000 after purchasing an additional 95,780 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Webster Financial by 28.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider's stock worth $240,687,000 after acquiring an additional 1,206,575 shares in the last quarter. Earnest Partners LLC increased its holdings in Webster Financial by 0.4% during the 2nd quarter. Earnest Partners LLC now owns 3,086,111 shares of the financial services provider's stock valued at $134,524,000 after purchasing an additional 13,487 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Webster Financial by 12.9% in the second quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider's stock valued at $115,096,000 after buying an additional 301,935 shares during the last quarter. Institutional investors own 85.58% of the company's stock.

Insider Activity

In other Webster Financial news, insider Daniel Bley sold 3,463 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $52.10, for a total value of $180,422.30. Following the sale, the insider now directly owns 19,529 shares in the company, valued at $1,017,460.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Daniel Bley sold 3,463 shares of the business's stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $52.10, for a total transaction of $180,422.30. Following the completion of the transaction, the insider now owns 19,529 shares of the company's stock, valued at approximately $1,017,460.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Javier L. Evans sold 10,137 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $57.41, for a total transaction of $581,965.17. Following the completion of the transaction, the insider now owns 22,657 shares in the company, valued at approximately $1,300,738.37. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,100 shares of company stock worth $1,202,237. 0.88% of the stock is owned by company insiders.

Webster Financial Stock Performance

WBS traded up $0.02 during trading on Friday, hitting $57.70. 1,490,092 shares of the company traded hands, compared to its average volume of 1,259,992. Webster Financial Co. has a one year low of $38.54 and a one year high of $60.13. The stock's fifty day moving average is $48.36 and its 200 day moving average is $45.96. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. The firm has a market cap of $9.89 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 0.89 and a beta of 1.27.

Webster Financial (NYSE:WBS - Get Free Report) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing analysts' consensus estimates of $1.35 by ($0.01). The company had revenue of $647.62 million for the quarter, compared to the consensus estimate of $677.72 million. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same period in the prior year, the company earned $1.55 earnings per share. As a group, equities analysts predict that Webster Financial Co. will post 5.24 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Friday, November 1st. Webster Financial's payout ratio is 36.28%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Webster Financial from $58.00 to $55.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 9th. Royal Bank of Canada increased their price target on Webster Financial from $57.00 to $62.00 and gave the stock an "outperform" rating in a report on Friday, October 18th. StockNews.com raised Webster Financial from a "sell" rating to a "hold" rating in a research report on Tuesday, October 29th. Stephens set a $58.00 price target on Webster Financial in a report on Thursday, October 17th. Finally, Morgan Stanley dropped their price objective on shares of Webster Financial from $57.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Webster Financial currently has a consensus rating of "Moderate Buy" and an average target price of $57.85.

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.