Verition Fund Management LLC Has $31.46 Million Holdings in Webster Financial Co. (NYSE:WBS)

Verition Fund Management LLC decreased its position in shares of Webster Financial Co. (NYSE:WBS) by 1.9% in the third quarter, Holdings Channel reports. The fund owned 674,938 shares of the financial services provider’s stock after selling 13,370 shares during the period. Verition Fund Management LLC’s holdings in Webster Financial were worth $31,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of WBS. V Square Quantitative Management LLC acquired a new position in shares of Webster Financial during the 3rd quarter worth about $27,000. UMB Bank n.a. increased its position in Webster Financial by 340.7% in the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock worth $28,000 after buying an additional 460 shares during the period. Hantz Financial Services Inc. acquired a new position in shares of Webster Financial during the second quarter worth approximately $32,000. Brooklyn Investment Group bought a new stake in shares of Webster Financial in the third quarter valued at approximately $53,000. Finally, Mather Group LLC. grew its stake in shares of Webster Financial by 7,650.0% in the second quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 1,224 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO John R. Ciulla sold 8,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $59.33, for a total value of $474,640.00. Following the completion of the sale, the chief executive officer now owns 218,924 shares in the company, valued at approximately $12,988,760.92. This represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Javier L. Evans sold 10,137 shares of the firm’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 owns 22,657 shares in the company, valued at approximately $1,300,738.37. This trade represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,750 shares of company stock valued at $2,074,367 in the last 90 days. 0.88% of the stock is owned by company insiders.

Webster Financial Stock Performance

NYSE:WBS opened at $62.05 on Friday. The firm has a 50 day moving average of $52.38 and a 200-day moving average of $47.37. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. Webster Financial Co. has a 1 year low of $39.33 and a 1 year high of $63.99. The stock has a market capitalization of $10.64 billion, a P/E ratio of 14.07, a price-to-earnings-growth ratio of 0.92 and a beta of 1.27.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 EPS 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 business had revenue of $647.62 million for the quarter, compared to analyst estimates of $677.72 million. During the same quarter in the prior year, the firm earned $1.55 EPS. As a group, sell-side analysts anticipate that Webster Financial Co. will post 5.24 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial’s dividend payout ratio (DPR) is currently 36.28%.

Wall Street Analyst Weigh In

WBS has been the subject of a number of research reports. Morgan Stanley reduced 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 report on Monday, September 30th. Royal Bank of Canada increased their target price on shares of Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Stephens set a $58.00 price target on Webster Financial in a research note on Thursday, October 17th. JPMorgan Chase & Co. reduced their target price on Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company increased their price target on shares of Webster Financial from $50.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Webster Financial has a consensus rating of “Moderate Buy” and an average target price of $57.85.

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.