Webster Financial Co. (NYSE:WBS) Shares Sold by Legacy Wealth Management LLC MS

Legacy Wealth Management LLC MS lessened its holdings in Webster Financial Co. (NYSE:WBS - Free Report) by 69.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,975 shares of the financial services provider's stock after selling 13,630 shares during the quarter. Legacy Wealth Management LLC MS's holdings in Webster Financial were worth $278,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Texas Permanent School Fund Corp raised its stake in Webster Financial by 13.5% in the second quarter. Texas Permanent School Fund Corp now owns 170,852 shares of the financial services provider's stock worth $7,447,000 after buying an additional 20,300 shares in the last quarter. American Century Companies Inc. raised its stake in Webster Financial by 12.9% in the second quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider's stock valued at $115,096,000 after buying an additional 301,935 shares during the last quarter. M&G PLC boosted its holdings in Webster Financial by 9.4% in the third quarter. M&G PLC now owns 207,297 shares of the financial services provider's stock worth $9,743,000 after acquiring an additional 17,746 shares in the last quarter. Bank of Montreal Can grew its stake 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 worth $14,801,000 after acquiring an additional 317,814 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new position in shares of Webster Financial during the second quarter valued at about $4,582,000. 85.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on WBS shares. JPMorgan Chase & Co. dropped their target price on shares of Webster Financial from $58.00 to $55.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 9th. Barclays lifted their price target on Webster Financial from $63.00 to $69.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Morgan Stanley cut their price objective on Webster Financial from $57.00 to $54.00 and set an "equal weight" rating on the stock in a report on Monday, September 30th. Wedbush raised their price objective on Webster Financial from $52.00 to $59.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Finally, Stephens set a $58.00 target price on Webster Financial in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Webster Financial currently has an average rating of "Moderate Buy" and a consensus price target of $59.08.

Insider Activity

In other Webster Financial news, insider Daniel Bley sold 500 shares of the firm's stock in a transaction 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 transaction, the insider now owns 17,279 shares in the company, valued at approximately $1,069,742.89. This trade represents a 2.81 % 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 company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $57.41, for a total transaction of $581,965.17. Following the sale, the insider now directly owns 22,657 shares of the company's stock, valued at $1,300,738.37. The trade was a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,250 shares of company stock worth $2,105,322 over the last three months. 0.88% of the stock is currently owned by corporate insiders.

Webster Financial Stock Performance

NYSE WBS traded down $0.11 during mid-day trading on Friday, reaching $58.96. 694,316 shares of the stock were exchanged, compared to its average volume of 905,280. The company has a market capitalization of $10.11 billion, a P/E ratio of 13.37, a P/E/G ratio of 0.87 and a beta of 1.29. 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 business's 50 day moving average is $55.72 and its 200-day moving average is $48.57. Webster Financial Co. has a 1 year low of $39.33 and a 1 year high of $63.99.

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 (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 firm had revenue of $647.62 million for the quarter, compared to analysts' expectations of $677.72 million. During the same period in the previous year, the company earned $1.55 earnings per share. On average, equities research analysts forecast that Webster Financial Co. will post 5.24 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.71%. The ex-dividend date was Friday, November 1st. Webster Financial's payout ratio is currently 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.