Arkadios Wealth Advisors trimmed its position in shares of Webster Financial Co. (NYSE:WBS – Free Report) by 82.8% during the 4th quarter, Holdings Channel reports. The firm owned 13,872 shares of the financial services provider’s stock after selling 66,655 shares during the period. Arkadios Wealth Advisors’ holdings in Webster Financial were worth $766,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of WBS. Assetmark Inc. grew its holdings in Webster Financial by 9.3% during the 3rd quarter. Assetmark Inc. now owns 2,611 shares of the financial services provider’s stock valued at $122,000 after buying an additional 222 shares in the last quarter. Wedmont Private Capital increased its holdings in Webster Financial by 3.2% in the 4th quarter. Wedmont Private Capital now owns 7,628 shares of the financial services provider’s stock valued at $409,000 after acquiring an additional 237 shares during the last quarter. GAMMA Investing LLC lifted its stake in Webster Financial by 14.8% in the 4th quarter. GAMMA Investing LLC now owns 2,045 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 264 shares in the last quarter. Covestor Ltd grew its position in shares of Webster Financial by 17.0% during the third quarter. Covestor Ltd now owns 1,895 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 276 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Webster Financial by 3.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,684 shares of the financial services provider’s stock worth $535,000 after purchasing an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.
Analyst Upgrades and Downgrades
WBS has been the subject of a number of research reports. Stephens set a $58.00 price target on Webster Financial in a research note on Thursday, October 17th. Royal Bank of Canada boosted their price target on shares of Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Wedbush upped their target price on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. dropped their price target on Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, Barclays upped their price objective on Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Webster Financial has a consensus rating of “Moderate Buy” and a consensus price target of $61.58.
Read Our Latest Research Report on Webster Financial
Webster Financial Stock Performance
WBS stock opened at $59.57 on Tuesday. The firm has a market cap of $10.21 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 0.99 and a beta of 1.30. Webster Financial Co. has a twelve month low of $39.33 and a twelve month high of $63.99. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $58.11 and its two-hundred day simple moving average is $51.22.
Webster Financial (NYSE:WBS – Get Free Report) last announced its quarterly earnings data on Friday, January 17th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.08. The company had revenue of $661.00 million during the quarter, compared to analyst estimates of $687,532.71 billion. Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. During the same quarter last year, the business posted $1.46 EPS. Analysts predict that Webster Financial Co. will post 5.24 earnings per share for the current year.
Insider Activity at Webster Financial
In related news, Director Lauren States sold 1,650 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $60.60, for a total value of $99,990.00. Following the completion of the sale, the director now directly owns 15,023 shares of the company’s stock, valued at $910,393.80. This represents a 9.90 % 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 Charles L. Wilkins sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $59.50, for a total transaction of $297,500.00. Following the transaction, the insider now directly owns 33,657 shares in the company, valued at $2,002,591.50. This trade represents a 12.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,287 shares of company stock worth $1,485,050. Company insiders own 0.72% of the company’s stock.
About Webster Financial
(Free Report)
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.
Recommended Stories
Want to see what other hedge funds are holding WBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Webster Financial Co. (NYSE:WBS – Free Report).
Receive News & Ratings for Webster Financial Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Webster Financial and related companies with MarketBeat.com’s FREE daily email newsletter.
