Entropy Technologies LP Sells 17,557 Shares of Webster Financial Co. (NYSE:WBS)

Entropy Technologies LP lessened its position in Webster Financial Co. (NYSE:WBS - Free Report) by 44.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,600 shares of the financial services provider's stock after selling 17,557 shares during the period. Entropy Technologies LP's holdings in Webster Financial were worth $1,007,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sound Income Strategies LLC increased its position in shares of Webster Financial by 1,859.1% in the second quarter. Sound Income Strategies LLC now owns 15,692 shares of the financial services provider's stock worth $684,000 after acquiring an additional 14,891 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in Webster Financial during the first quarter valued at $3,529,000. Boston Partners boosted its position in Webster Financial by 44.2% during the 1st quarter. Boston Partners now owns 264,937 shares of the financial services provider's stock worth $13,439,000 after acquiring an additional 81,201 shares during the period. Texas Permanent School Fund Corp boosted its position in Webster Financial by 13.5% during the 2nd quarter. Texas Permanent School Fund Corp now owns 170,852 shares of the financial services provider's stock worth $7,447,000 after acquiring an additional 20,300 shares during the period. Finally, Capital Group Private Client Services Inc. lifted its position in shares of Webster Financial by 18.3% in the first quarter. Capital Group Private Client Services Inc. now owns 106,042 shares of the financial services provider's stock worth $5,384,000 after purchasing an additional 16,394 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WBS has been the subject of a number of research analyst reports. Wedbush increased their target price on shares of Webster Financial from $52.00 to $59.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Wells Fargo & Company upped their price objective on shares of Webster Financial from $50.00 to $60.00 and gave the stock an "equal weight" rating in a report on Friday, October 18th. Royal Bank of Canada upped 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. Stephens set a $58.00 price target on Webster Financial in a report on Thursday, October 17th. Finally, Barclays increased their price objective on shares of Webster Financial from $60.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, October 18th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $57.85.

Insider Buying and Selling at Webster Financial

In related 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 transaction, the insider now owns 19,529 shares in the company, valued at $1,017,460.90. The trade was a 15.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Javier L. Evans sold 10,137 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $57.41, for a total transaction of $581,965.17. Following the transaction, the insider now directly owns 22,657 shares in the company, valued at approximately $1,300,738.37. The trade was a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,100 shares of company stock valued at $1,202,237 in the last 90 days. 0.88% of the stock is currently owned by company insiders.

Webster Financial Stock Down 0.3 %

Shares of Webster Financial stock traded down $0.17 during trading hours on Thursday, reaching $59.67. The company's stock had a trading volume of 819,855 shares, compared to its average volume of 1,261,685. 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 stock's fifty day simple moving average is $49.46 and its two-hundred day simple moving average is $46.37. The company has a market capitalization of $10.23 billion, a P/E ratio of 13.53, a P/E/G ratio of 0.89 and a beta of 1.27. Webster Financial Co. has a one year low of $39.33 and a one year high of $61.12.

Webster Financial (NYSE:WBS - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.01). The business had revenue of $647.62 million for the quarter, compared to analysts' expectations 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 previous year, the business posted $1.55 earnings per share. On average, research analysts forecast that Webster Financial Co. will post 5.24 earnings per share for the current year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial's dividend payout ratio (DPR) is presently 36.28%.

Webster Financial Company 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.