Y Intercept Hong Kong Ltd Reduces Stake in Webster Financial Co. (NYSE:WBS)

Y Intercept Hong Kong Ltd lessened its holdings in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 58.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,521 shares of the financial services provider's stock after selling 41,164 shares during the period. Y Intercept Hong Kong Ltd's holdings in Webster Financial were worth $1,376,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. XTX Topco Ltd acquired a new position in Webster Financial in the third quarter valued at $690,000. EP Wealth Advisors LLC acquired a new position in Webster Financial in the third quarter valued at $243,000. Wellington Management Group LLP lifted its holdings in Webster Financial by 57.6% in the third quarter. Wellington Management Group LLP now owns 770,684 shares of the financial services provider's stock valued at $35,922,000 after buying an additional 281,686 shares during the period. State Street Corp lifted its holdings in Webster Financial by 4.8% in the third quarter. State Street Corp now owns 7,320,930 shares of the financial services provider's stock valued at $341,229,000 after buying an additional 333,606 shares during the period. Finally, Stifel Financial Corp lifted its holdings in Webster Financial by 12.0% in the third quarter. Stifel Financial Corp now owns 158,454 shares of the financial services provider's stock valued at $7,386,000 after buying an additional 17,020 shares during the period. Institutional investors and hedge funds own 85.58% of the company's stock.

Webster Financial Stock Down 1.0 %

Shares of NYSE:WBS traded down $0.62 during midday trading on Thursday, hitting $59.07. 842,838 shares of the company's stock were exchanged, compared to its average volume of 1,237,146. 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 stock has a 50 day moving average price of $55.16 and a 200-day moving average price of $48.40. The company has a market cap of $10.13 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 0.87 and a beta of 1.29. 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 released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share 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 quarter last year, the firm posted $1.55 earnings per share. On average, sell-side analysts anticipate that Webster Financial Co. will post 5.24 EPS for the current fiscal year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial's dividend payout ratio (DPR) is presently 36.28%.

Analyst Ratings Changes

Several equities analysts recently issued reports on WBS shares. Stephens set a $58.00 target price on shares of Webster Financial in a report on Thursday, October 17th. Wedbush lifted their price target on shares of Webster Financial from $52.00 to $59.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Barclays lifted their price target on shares of Webster Financial from $63.00 to $69.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Morgan Stanley decreased their price target 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. Finally, Wells Fargo & Company lifted their price target on shares of Webster Financial from $60.00 to $70.00 and gave the company an "equal weight" rating in a research note on Tuesday, December 3rd. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $59.08.

Insider Buying and Selling

In other Webster Financial news, CAO Albert Jen-Wen Wang sold 4,000 shares of the business's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $52.43, for a total value of $209,720.00. Following the transaction, the chief accounting officer now directly owns 14,273 shares in the company, valued at $748,333.39. The trade was a 21.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Bley sold 500 shares of the business's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $61.91, for a total transaction of $30,955.00. Following the completion of the transaction, the insider now owns 17,279 shares in the company, valued at approximately $1,069,742.89. The trade was a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,250 shares of company stock worth $2,105,322. 0.88% of the stock is owned by insiders.

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.