Bank of Montreal Can Reduces Position in Webster Financial Co. (NYSE:WBS)

Bank of Montreal Can trimmed its stake in Webster Financial Co. (NYSE:WBS - Free Report) by 41.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 565,464 shares of the financial services provider's stock after selling 393,716 shares during the period. Bank of Montreal Can owned approximately 0.33% of Webster Financial worth $31,225,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Webster Financial during the 4th quarter valued at $26,000. Headlands Technologies LLC bought a new stake in Webster Financial during the fourth quarter worth about $32,000. R Squared Ltd purchased a new position in shares of Webster Financial in the 4th quarter worth about $43,000. UMB Bank n.a. increased its position in shares of Webster Financial by 88.1% during the 4th quarter. UMB Bank n.a. now owns 1,119 shares of the financial services provider's stock valued at $62,000 after purchasing an additional 524 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd raised its holdings in shares of Webster Financial by 742.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,264 shares of the financial services provider's stock valued at $70,000 after buying an additional 1,114 shares in the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Webster Financial

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $57.43, for a total transaction of $459,440.00. Following the sale, the chief executive officer now directly owns 210,051 shares of the company's stock, valued at $12,063,228.93. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Laurence C. Morse sold 13,217 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $59.07, for a total value of $780,728.19. Following the completion of the sale, the director now directly owns 18,808 shares of the company's stock, valued at $1,110,988.56. The trade was a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.

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Analysts Set New Price Targets

WBS has been the topic of several research reports. UBS Group began coverage on shares of Webster Financial in a research note on Tuesday, December 17th. They set a "buy" rating and a $76.00 price target on the stock. StockNews.com upgraded shares of Webster Financial from a "sell" rating to a "hold" rating in a research report on Saturday, January 11th. Royal Bank of Canada upped their price target on shares of Webster Financial from $66.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, January 21st. Wells Fargo & Company decreased their price objective on Webster Financial from $75.00 to $60.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Finally, Morgan Stanley dropped their target price on Webster Financial from $75.00 to $66.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $61.92.

Webster Financial Price Performance

Shares of NYSE:WBS traded up $0.19 during midday trading on Wednesday, reaching $44.55. 106,229 shares of the company were exchanged, compared to its average volume of 1,238,374. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34. The stock has a market cap of $7.63 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 1.02 and a beta of 1.05. The business's fifty day moving average is $51.65 and its two-hundred day moving average is $54.35. Webster Financial Co. has a one year low of $39.33 and a one year high of $63.99.

Webster Financial (NYSE:WBS - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.08. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The firm had revenue of $661.00 million during the quarter, compared to analyst estimates of $687.53 million. During the same quarter last year, the business posted $1.46 earnings per share. As a group, analysts predict that Webster Financial Co. will post 5.88 earnings per share for the current year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were given a dividend of $0.40 per share. The ex-dividend date was Monday, February 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.59%. Webster Financial's dividend payout ratio is currently 36.61%.

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.