Victory Capital Management Inc. Lowers Stock Holdings in Webster Financial Co. (NYSE:WBS)

Victory Capital Management Inc. lowered its holdings in Webster Financial Co. (NYSE:WBS) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,227 shares of the financial services provider’s stock after selling 247 shares during the period. Victory Capital Management Inc.’s holdings in Webster Financial were worth $666,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of WBS. Harvest Fund Management Co. Ltd grew its position in Webster Financial by 108.6% during the second quarter. Harvest Fund Management Co. Ltd now owns 1,095 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 570 shares during the period. Massmutual Trust Co. FSB ADV purchased a new stake in Webster Financial during the second quarter valued at about $97,000. Dark Forest Capital Management LP purchased a new stake in Webster Financial during the second quarter valued at about $105,000. Arkadios Wealth Advisors grew its position in Webster Financial by 23.4% during the third quarter. Arkadios Wealth Advisors now owns 4,214 shares of the financial services provider’s stock valued at $229,000 after acquiring an additional 800 shares during the period. Finally, Private Capital Group LLC grew its position in Webster Financial by 5.6% during the third quarter. Private Capital Group LLC now owns 5,444 shares of the financial services provider’s stock valued at $297,000 after acquiring an additional 287 shares during the period. 95.07% of the stock is owned by hedge funds and other institutional investors.

Shares of WBS opened at $64.17 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.79 and a quick ratio of 0.78. Webster Financial Co. has a 12 month low of $45.60 and a 12 month high of $65.00. The stock’s 50-day moving average is $57.08 and its two-hundred day moving average is $53.56. The stock has a market cap of $5.81 billion, a PE ratio of 16.67 and a beta of 1.42.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Wednesday, October 20th. The financial services provider reported $1.08 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.08. Webster Financial had a return on equity of 13.22% and a net margin of 28.56%. The business had revenue of $313.50 million for the quarter, compared to analysts’ expectations of $296.90 million. During the same quarter in the previous year, the firm posted $0.75 earnings per share. The company’s revenue was up 6.5% compared to the same quarter last year. On average, research analysts anticipate that Webster Financial Co. will post 4.64 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 23rd. Investors of record on Tuesday, November 9th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Monday, November 8th. Webster Financial’s dividend payout ratio (DPR) is 41.56%.

A number of research firms have issued reports on WBS. Royal Bank of Canada boosted their price target on Webster Financial from $63.00 to $68.00 and gave the company an “outperform” rating in a research report on Friday, October 22nd. Raymond James boosted their price objective on Webster Financial from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, October 22nd. Finally, Wells Fargo & Company reduced their price objective on Webster Financial from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 4th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Webster Financial currently has an average rating of “Buy” and a consensus price target of $60.75.

About Webster Financial

Webster Financial Corp., is holding company, which engages in the provision of financial services to individuals, families, and businesses. It operates through the following business segments: Commercial Banking, HSA Bank, and Community Banking. The Commercial Banking segment includes commercial banking and private banking.

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Institutional Ownership by Quarter for Webster Financial (NYSE:WBS)

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