LS Investment Advisors LLC Trims Holdings in Webster Financial Co. (NYSE:WBS)
LS Investment Advisors LLC cut its holdings in shares of Webster Financial Co. (NYSE:WBS) by 19.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,677 shares of the financial services provider’s stock after selling 1,359 shares during the quarter. LS Investment Advisors LLC’s holdings in Webster Financial were worth $319,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. GSA Capital Partners LLP bought a new position in Webster Financial during the 3rd quarter worth $202,000. Fox Run Management L.L.C. acquired a new stake in shares of Webster Financial in the fourth quarter valued at $264,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Webster Financial by 39.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,788 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 1,353 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in shares of Webster Financial during the fourth quarter worth $271,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Webster Financial by 4.0% during the second quarter. PNC Financial Services Group Inc. now owns 5,048 shares of the financial services provider’s stock worth $263,000 after purchasing an additional 195 shares during the period. Institutional investors own 94.63% of the company’s stock.
In related news, EVP Daniel Bley sold 2,917 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $58.27, for a total transaction of $169,973.59. Following the completion of the sale, the executive vice president now owns 19,804 shares in the company, valued at approximately $1,153,979.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark Pettie sold 3,291 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $56.34, for a total value of $185,414.94. Following the sale, the director now owns 16,405 shares of the company’s stock, valued at approximately $924,257.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,272 shares of company stock valued at $629,959. 2.20% of the stock is currently owned by corporate insiders.
Shares of Webster Financial Co. (NYSE:WBS) traded down $1.07 during mid-day trading on Wednesday, reaching $56.77. The company’s stock had a trading volume of 378,997 shares, compared to its average volume of 552,344. The firm has a market cap of $5,321.25, a price-to-earnings ratio of 21.74, a P/E/G ratio of 2.14 and a beta of 1.14. Webster Financial Co. has a 12 month low of $44.04 and a 12 month high of $60.32. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82.
Webster Financial (NYSE:WBS) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.06. The company had revenue of $270.97 million during the quarter, compared to the consensus estimate of $269.64 million. Webster Financial had a return on equity of 9.91% and a net margin of 21.77%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. sell-side analysts forecast that Webster Financial Co. will post 3.37 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, February 12th. This represents a $1.04 annualized dividend and a dividend yield of 1.83%. Webster Financial’s dividend payout ratio (DPR) is presently 39.10%.
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Webster Financial Company Profile
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.
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