Fifth Third Bancorp Trims Stake in Webster Financial Co. (NYSE:WBS)

Fifth Third Bancorp reduced its stake in Webster Financial Co. (NYSE:WBS - Free Report) by 29.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,272 shares of the financial services provider's stock after selling 12,377 shares during the period. Fifth Third Bancorp's holdings in Webster Financial were worth $1,672,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in shares of Webster Financial in the third quarter worth $27,000. UMB Bank n.a. raised its position in Webster Financial by 340.7% in the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider's stock worth $28,000 after buying an additional 460 shares during the last quarter. Brooklyn Investment Group bought a new position in Webster Financial during the 3rd quarter valued at about $53,000. NBC Securities Inc. boosted its holdings 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 acquiring an additional 686 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of Webster Financial by 45.9% in the third quarter. First Horizon Advisors Inc. now owns 1,398 shares of the financial services provider's stock worth $65,000 after acquiring an additional 440 shares during the period. Hedge funds and other institutional investors own 85.58% of the company's stock.

Insider Activity at Webster Financial

In related news, insider Javier L. Evans sold 10,137 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 22,657 shares of the company's stock, valued at approximately $1,300,738.37. This represents a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren States sold 1,650 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $60.60, for a total value of $99,990.00. Following the transaction, the director now owns 15,023 shares of the company's stock, valued at $910,393.80. This represents a 9.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,287 shares of company stock valued at $1,485,050. 0.88% of the stock is owned by company insiders.

Webster Financial Stock Performance

NYSE WBS traded up $0.59 on Wednesday, reaching $59.95. 804,835 shares of the stock were exchanged, compared to its average volume of 1,102,502. The firm has a market capitalization of $10.28 billion, a PE ratio of 13.72, a PEG ratio of 1.06 and a beta of 1.30. Webster Financial Co. has a one year low of $39.33 and a one year high of $63.99. The company's 50-day simple moving average is $58.02 and its two-hundred day simple moving average is $51.89. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34.

Webster Financial (NYSE:WBS - Get Free Report) last announced its quarterly earnings data on Friday, January 17th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.35 by $0.08. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. The firm had revenue of $661.00 million for the quarter, compared to the consensus estimate of $687.53 million. During the same period last year, the firm earned $1.46 EPS. Analysts expect that Webster Financial Co. will post 5.83 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Monday, February 10th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.67%. Webster Financial's dividend payout ratio is currently 36.61%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company upgraded shares of Webster Financial from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $70.00 to $75.00 in a report on Monday, January 6th. Stephens set a $58.00 price target on Webster Financial in a research note on Thursday, October 17th. Wedbush upped their price objective on Webster Financial from $52.00 to $59.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Barclays raised their target price on Webster Financial from $63.00 to $69.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Finally, UBS Group initiated coverage on Webster Financial in a research note on Tuesday, December 17th. They set a "buy" rating and a $76.00 price target for the company. Three equities 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.08.

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.