Point72 Asset Management L.P. Sells 217,458 Shares of Webster Financial Co. (NYSE:WBS)

Point72 Asset Management L.P. reduced its holdings in Webster Financial Co. (NYSE:WBS - Free Report) by 13.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,386,740 shares of the financial services provider's stock after selling 217,458 shares during the period. Point72 Asset Management L.P. owned 0.81% of Webster Financial worth $64,636,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in shares of Webster Financial by 28.0% in the second quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider's stock valued at $240,687,000 after buying an additional 1,206,575 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Webster Financial by 182.7% during the 3rd quarter. Bank of Montreal Can now owns 959,180 shares of the financial services provider's stock worth $44,496,000 after purchasing an additional 619,934 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Webster Financial during the 3rd quarter worth about $22,146,000. American Century Companies Inc. lifted its stake in Webster Financial by 12.9% in the 2nd quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider's stock valued at $115,096,000 after purchasing an additional 301,935 shares during the last quarter. Finally, Samlyn Capital LLC grew its holdings in Webster Financial by 58.3% during the second quarter. Samlyn Capital LLC now owns 536,481 shares of the financial services provider's stock worth $23,385,000 after purchasing an additional 197,679 shares during the period. 85.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on WBS. Stephens set a $58.00 price objective on Webster Financial in a research note on Thursday, October 17th. StockNews.com cut Webster Financial from a "hold" rating to a "sell" rating in a research note on Monday, November 18th. Wells Fargo & Company raised their price target on Webster Financial from $60.00 to $70.00 and gave the company an "equal weight" rating in a report on Tuesday. Barclays upped their price objective on shares of Webster Financial from $63.00 to $69.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Morgan Stanley cut their target price on shares of Webster Financial from $57.00 to $54.00 and set an "equal weight" rating for the company in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Webster Financial presently has a consensus rating of "Moderate Buy" and an average price target of $59.08.

Webster Financial Price Performance

Webster Financial stock traded down $0.49 during mid-day trading on Thursday, reaching $59.90. 644,752 shares of the company were exchanged, compared to its average volume of 1,245,096. The firm has a market cap of $10.27 billion, a PE ratio of 13.68, a PEG ratio of 0.89 and a beta of 1.29. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86. The company has a fifty day simple moving average of $53.78 and a 200-day simple moving average of $47.89. Webster Financial Co. has a 12 month low of $39.33 and a 12 month high of $63.99.

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). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The company had revenue of $647.62 million during the quarter, compared to the consensus estimate of $677.72 million. During the same quarter in the previous year, the business posted $1.55 EPS. As a group, equities research analysts expect that Webster Financial Co. will post 5.24 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial's payout ratio is presently 36.28%.

Insider Transactions at Webster Financial

In related news, CAO Albert Jen-Wen Wang sold 4,000 shares of the firm's stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $52.43, for a total value of $209,720.00. Following the sale, the chief accounting officer now directly owns 14,273 shares of the company's stock, valued at $748,333.39. This trade represents a 21.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Javier L. Evans sold 10,137 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $57.41, for a total value of $581,965.17. Following the transaction, the insider now directly owns 22,657 shares of the company's stock, valued at approximately $1,300,738.37. The trade was a 30.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,250 shares of company stock valued at $2,105,322. Company insiders own 0.88% of the company's stock.

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.