Nicholas Company Inc. Sells 98,341 Shares of Webster Financial Co. (NYSE:WBS)

Nicholas Company Inc. lessened its holdings in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 39.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 151,159 shares of the financial services provider's stock after selling 98,341 shares during the quarter. Nicholas Company Inc. owned 0.09% of Webster Financial worth $8,347,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of WBS. Natixis Advisors LLC lifted its stake in shares of Webster Financial by 15.7% during the fourth quarter. Natixis Advisors LLC now owns 273,267 shares of the financial services provider's stock worth $15,090,000 after purchasing an additional 37,015 shares in the last quarter. First Eagle Investment Management LLC bought a new stake in Webster Financial in the fourth quarter valued at about $337,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Webster Financial during the 4th quarter valued at approximately $26,000. Swiss National Bank raised its holdings in shares of Webster Financial by 0.7% during the fourth quarter. Swiss National Bank now owns 337,100 shares of the financial services provider's stock worth $18,615,000 after purchasing an additional 2,400 shares during the period. Finally, Avantax Advisory Services Inc. bought a new position in Webster Financial in the fourth quarter worth about $225,000. Hedge funds and other institutional investors own 85.58% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WBS. Royal Bank of Canada boosted their price target on shares of Webster Financial from $66.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, January 21st. Morgan Stanley dropped their target price on Webster Financial from $75.00 to $66.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. JPMorgan Chase & Co. reduced their price objective on shares of Webster Financial from $67.00 to $65.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Wells Fargo & Company upgraded Webster Financial from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $70.00 to $75.00 in a report on Monday, January 6th. Finally, UBS Group started coverage on shares of Webster Financial in a research note on Tuesday, December 17th. They set a "buy" rating and a $76.00 target price on the stock. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $63.08.

Remove Ads

Insider Transactions at Webster Financial

In other news, Director Laurence C. Morse sold 13,217 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total value of $780,728.19. Following the sale, the director now directly owns 18,808 shares in the company, valued at approximately $1,110,988.56. This represents a 41.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John R. Ciulla sold 8,000 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.43, for a total value of $459,440.00. Following the completion of the sale, the chief executive officer now owns 210,051 shares in the company, valued at $12,063,228.93. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by corporate insiders.

Webster Financial Stock Down 1.0 %

Shares of WBS traded down $0.53 during mid-day trading on Thursday, hitting $51.58. 1,185,479 shares of the company's stock were exchanged, compared to its average volume of 1,171,690. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.34. Webster Financial Co. has a twelve month low of $39.34 and a twelve month high of $63.99. The firm has a fifty day moving average of $56.40 and a two-hundred day moving average of $54.18. The stock has a market cap of $8.84 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 1.02 and a beta of 1.28.

Webster Financial (NYSE:WBS - Get Free Report) last announced its earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.08. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The firm had revenue of $661.00 million during the quarter, compared to analysts' expectations of $687.53 million. During the same quarter in the prior year, the business earned $1.46 earnings per share. On average, sell-side analysts forecast that Webster Financial Co. will post 5.88 earnings per share for the current year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Monday, February 10th. Webster Financial's dividend payout ratio (DPR) is currently 36.61%.

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.