Webster Financial Co. (NYSE:WBS) Shares Sold by Citigroup Inc.

Citigroup Inc. decreased its holdings in Webster Financial Co. (NYSE:WBS - Free Report) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 198,012 shares of the financial services provider's stock after selling 18,873 shares during the quarter. Citigroup Inc. owned about 0.12% of Webster Financial worth $9,229,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of Webster Financial by 28.0% in the second quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider's stock valued at $240,687,000 after purchasing an additional 1,206,575 shares during the period. Point72 Asset Management L.P. grew its position in Webster Financial by 64.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,604,198 shares of the financial services provider's stock valued at $69,927,000 after buying an additional 631,080 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Webster Financial in the 3rd quarter valued at $22,146,000. Bank of Montreal Can raised its position in Webster Financial by 1,482.9% during the 2nd quarter. Bank of Montreal Can now owns 339,246 shares of the financial services provider's stock worth $14,801,000 after buying an additional 317,814 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Webster Financial by 12.9% in the 2nd quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider's stock worth $115,096,000 after acquiring an additional 301,935 shares during the period. Institutional investors and hedge funds own 85.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WBS shares. Barclays boosted their price target on shares of Webster Financial from $60.00 to $63.00 and gave the stock an "overweight" rating in a research note on Friday, October 18th. StockNews.com cut Webster Financial from a "hold" rating to a "sell" rating in a research report on Monday, November 18th. Morgan Stanley cut their target price on Webster Financial from $57.00 to $54.00 and set an "equal weight" rating for the company in a research note on Monday, September 30th. Wedbush lifted their price target on Webster Financial from $52.00 to $59.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Finally, Stephens set a $58.00 price objective on Webster Financial in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Webster Financial currently has an average rating of "Moderate Buy" and an average target price of $57.85.

Webster Financial Price Performance

Shares of WBS stock traded down $0.27 during mid-day trading on Friday, reaching $61.78. The stock had a trading volume of 489,466 shares, compared to its average volume of 1,324,911. The company has a market cap of $10.59 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 0.92 and a beta of 1.27. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. Webster Financial Co. has a 12-month low of $39.33 and a 12-month high of $63.99. The business has a 50-day simple moving average of $52.93 and a 200 day simple moving average of $47.59.

Webster Financial (NYSE:WBS - Get Free Report) last posted its 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). Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. The business had revenue of $647.62 million for the quarter, compared to analysts' expectations of $677.72 million. During the same quarter last year, the business posted $1.55 earnings per share. On average, sell-side analysts anticipate that Webster Financial Co. will post 5.24 earnings per share for the current year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were given a dividend of $0.40 per share. The ex-dividend date was Friday, November 1st. This represents a $1.60 annualized dividend and a dividend yield of 2.59%. Webster Financial's dividend payout ratio is currently 36.28%.

Insider Activity at Webster Financial

In related news, CEO John R. Ciulla sold 8,000 shares of the business's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $59.33, for a total value of $474,640.00. Following the completion of the transaction, the chief executive officer now owns 218,924 shares of the company's stock, valued at approximately $12,988,760.92. The trade was a 3.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charles L. Wilkins sold 5,000 shares of the firm's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $59.50, for a total transaction of $297,500.00. Following the sale, the insider now directly owns 33,657 shares in the company, valued at $2,002,591.50. This represents a 12.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,750 shares of company stock valued at $2,074,367. 0.88% of the stock is owned by corporate insiders.

Webster Financial 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.