Webster Financial Co. (NYSE:WBS) Shares Sold by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. cut its holdings in Webster Financial Co. (NYSE:WBS - Free Report) by 4.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,760,407 shares of the financial services provider's stock after selling 89,755 shares during the quarter. Diamond Hill Capital Management Inc. owned approximately 1.03% of Webster Financial worth $82,053,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in WBS. Dimensional Fund Advisors LP lifted its stake in 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 worth $240,687,000 after acquiring an additional 1,206,575 shares during the period. Point72 Asset Management L.P. lifted its position in shares of Webster Financial by 64.9% during the second 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. purchased a new stake in shares of Webster Financial during the third quarter valued at about $22,146,000. Bank of Montreal Can lifted its position in shares of Webster Financial by 1,482.9% during the second quarter. Bank of Montreal Can now owns 339,246 shares of the financial services provider's stock valued at $14,801,000 after buying an additional 317,814 shares during the last quarter. Finally, Earnest Partners LLC lifted its position in shares of Webster Financial by 11.2% during the first quarter. Earnest Partners LLC now owns 3,072,624 shares of the financial services provider's stock valued at $155,997,000 after buying an additional 308,455 shares during the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Stock Performance

Webster Financial stock traded up $3.26 during mid-day trading on Monday, hitting $60.96. The company had a trading volume of 572,089 shares, compared to its average volume of 1,256,836. 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 $38.71 and a 12-month high of $61.04. The company's fifty day moving average is $48.36 and its 200-day moving average is $45.97. The company has a market capitalization of $10.45 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 0.85 and a beta of 1.27.

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

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.62%. Webster Financial's dividend payout ratio (DPR) is 36.28%.

Analysts Set New Price Targets

Several analysts have commented on WBS shares. Wells Fargo & Company increased their price target on shares of Webster Financial from $50.00 to $60.00 and gave the company an "equal weight" rating in a research report on Friday, October 18th. Royal Bank of Canada upped their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the company an "outperform" rating in a report on Friday, October 18th. Stephens set a $58.00 price objective on shares of Webster Financial in a report on Thursday, October 17th. 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. Finally, Morgan Stanley cut 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 report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $57.85.

Insider Activity

In other news, Director Mark Pettie sold 4,500 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total transaction of $230,130.00. Following the transaction, the director now owns 32,780 shares in the company, valued at $1,676,369.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Webster Financial news, Director Mark Pettie sold 4,500 shares of the firm's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total value of $230,130.00. Following the transaction, the director now owns 32,780 shares in the company, valued at approximately $1,676,369.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Javier L. Evans sold 10,137 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $57.41, for a total value of $581,965.17. Following the completion of the transaction, the insider now owns 22,657 shares in the company, valued at $1,300,738.37. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,100 shares of company stock worth $1,202,237 in the last quarter. Corporate insiders own 0.88% of the company's stock.

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.