Hudson Valley Investment Advisors Inc. ADV Sells 19,426 Shares of Webster Financial Co. (NYSE:WBS)

Hudson Valley Investment Advisors Inc. ADV trimmed its position in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 26.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,498 shares of the financial services provider's stock after selling 19,426 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV's holdings in Webster Financial were worth $2,540,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of Webster Financial during the third quarter valued at approximately $27,000. UMB Bank n.a. lifted its position in shares of Webster Financial by 340.7% during the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider's stock valued at $28,000 after buying an additional 460 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in shares of Webster Financial during the 2nd quarter valued at $32,000. Mather Group LLC. raised its stake in shares of Webster Financial by 7,650.0% during the 2nd quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 1,224 shares during the period. Finally, NBC Securities Inc. raised its stake in shares of Webster Financial by 117.9% during the 3rd quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 686 shares during the period. 85.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WBS. Royal Bank of Canada upped their price objective on Webster Financial from $57.00 to $62.00 and gave the stock an "outperform" rating in a report on Friday, October 18th. Wedbush increased their target price on Webster Financial from $52.00 to $59.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. StockNews.com raised Webster Financial from a "sell" rating to a "hold" rating in a research report on Tuesday. Barclays lifted their target price on Webster Financial from $60.00 to $63.00 and gave the stock an "overweight" rating in a report on Friday, October 18th. Finally, Jefferies Financial Group dropped their price target on Webster Financial from $56.00 to $51.00 and set a "buy" rating on the stock in a research note on Wednesday, July 3rd. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $57.85.

Insider Activity

In related news, insider Daniel Bley sold 3,463 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $52.10, for a total transaction of $180,422.30. Following the completion of the transaction, the insider now directly owns 19,529 shares of the company's stock, valued at $1,017,460.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Webster Financial news, Director Mark Pettie sold 4,500 shares of the firm's stock in a transaction dated Tuesday, October 22nd. The shares were 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 of the company's stock, valued at $1,676,369.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Daniel Bley sold 3,463 shares of the firm's stock in a transaction that occurred on Monday, October 21st. The shares were 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,963 shares of company stock valued at $620,272. Insiders own 0.88% of the company's stock.

Webster Financial Price Performance

WBS stock traded down $0.75 during mid-day trading on Thursday, reaching $51.82. The company's stock had a trading volume of 1,019,502 shares, compared to its average volume of 1,245,660. The stock has a market cap of $8.89 billion, a PE ratio of 10.61, a P/E/G ratio of 0.85 and a beta of 1.28. 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 fifty-two week low of $37.18 and a fifty-two week high of $54.38. The company's 50 day moving average is $47.33 and its two-hundred day moving average is $45.56.

Webster Financial (NYSE:WBS - Get Free Report) last announced its 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). The firm had revenue of $647.62 million during 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 firm earned $1.55 EPS. Equities research analysts expect that Webster Financial Co. will post 5.27 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 issued a $0.40 dividend. 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 3.09%. Webster Financial's payout ratio is 32.79%.

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.