Edgestream Partners L.P. Sells 89,688 Shares of Webster Financial Co. (NYSE:WBS)

Edgestream Partners L.P. lowered its position in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 85.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,434 shares of the financial services provider's stock after selling 89,688 shares during the period. Edgestream Partners L.P.'s holdings in Webster Financial were worth $719,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Fourthstone LLC increased its holdings in shares of Webster Financial by 569.2% in the 3rd quarter. Fourthstone LLC now owns 82,100 shares of the financial services provider's stock worth $3,827,000 after purchasing an additional 69,832 shares in the last quarter. PEAK6 Investments LLC increased its holdings in Webster Financial by 180.4% in the 3rd quarter. PEAK6 Investments LLC now owns 9,031 shares of the financial services provider's stock worth $421,000 after buying an additional 20,263 shares in the last quarter. BNP Paribas Financial Markets raised its position in Webster Financial by 8.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 89,202 shares of the financial services provider's stock worth $4,158,000 after buying an additional 6,964 shares during the last quarter. Brooklyn Investment Group purchased a new position in Webster Financial in the 3rd quarter worth about $53,000. Finally, Bank of Montreal Can boosted its holdings in shares of Webster Financial by 182.7% during the 3rd quarter. Bank of Montreal Can now owns 959,180 shares of the financial services provider's stock valued at $44,496,000 after acquiring an additional 619,934 shares during the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Webster Financial news, Director Lauren States sold 1,650 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The stock was 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 trade represents a 9.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Daniel Bley sold 500 shares of the company's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $61.91, for a total value of $30,955.00. Following the sale, the insider now directly owns 17,279 shares in the company, valued at $1,069,742.89. This trade represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,250 shares of company stock valued at $2,105,322. Corporate insiders own 0.88% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WBS shares. JPMorgan Chase & Co. decreased their price objective on shares of Webster Financial from $58.00 to $55.00 and set an "overweight" rating for the company in a report on Wednesday, October 9th. Royal Bank of Canada lifted their target price 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. Barclays increased their price target on Webster Financial from $63.00 to $69.00 and gave the company an "overweight" rating in a report on Thursday. Wedbush lifted their price objective on Webster Financial from $52.00 to $59.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Finally, Stephens set a $58.00 price objective on Webster Financial in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $59.08.

Webster Financial Price Performance

Shares of WBS traded up $0.09 during mid-day trading on Friday, reaching $59.97. The stock had a trading volume of 161,049 shares, compared to its average volume of 1,240,427. The business has a fifty day moving average of $54.05 and a 200 day moving average of $47.98. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $10.28 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 0.89 and a beta of 1.29. Webster Financial Co. has a 12 month low of $39.33 and a 12 month high of $63.99.

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

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a yield of 2.67%. Webster Financial's dividend payout ratio is presently 36.28%.

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.