Webster Financial Co. (WBS) Holding Trimmed by Macquarie Group Ltd.

Webster Financial Co. (WBS) Holding Trimmed by Macquarie Group Ltd.

Macquarie Group Ltd. cut its stake in Webster Financial Co. (NYSE:WBS) by 5.4% during the fourth quarter, Holdings Channel reports. The firm owned 2,869,003 shares of the financial services provider’s stock after selling 162,446 shares during the period. Macquarie Group Ltd. owned about 3.12% of Webster Financial worth $155,729,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its position in shares of Webster Financial by 0.6% in the fourth quarter. FMR LLC now owns 10,289 shares of the financial services provider’s stock valued at $558,000 after buying an additional 65 shares during the period. State Treasurer State of Michigan increased its position in shares of Webster Financial by 0.3% in the third quarter. State Treasurer State of Michigan now owns 36,850 shares of the financial services provider’s stock valued at $1,401,000 after buying an additional 100 shares during the period. Cetera Advisors LLC increased its position in shares of Webster Financial by 1.8% in the third quarter. Cetera Advisors LLC now owns 19,829 shares of the financial services provider’s stock valued at $755,000 after buying an additional 350 shares during the period. LS Investment Advisors LLC increased its position in shares of Webster Financial by 7.3% in the third quarter. LS Investment Advisors LLC now owns 5,878 shares of the financial services provider’s stock valued at $223,000 after buying an additional 398 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in shares of Webster Financial by 2.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 22,145 shares of the financial services provider’s stock valued at $1,201,000 after buying an additional 471 shares during the period. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Webster Financial Co. (NYSE:WBS) traded down 1.17% during mid-day trading on Friday, reaching $50.04. 739,338 shares of the company’s stock traded hands. The firm has a 50 day moving average of $53.59 and a 200 day moving average of $48.38. Webster Financial Co. has a 1-year low of $31.29 and a 1-year high of $57.50. The firm has a market cap of $4.60 billion, a PE ratio of 23.17 and a beta of 1.28.

Webster Financial (NYSE:WBS) last announced its earnings results on Thursday, January 19th. The financial services provider reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.05. Webster Financial had a net margin of 19.18% and a return on equity of 8.82%. The business earned $255.90 million during the quarter, compared to analysts’ expectations of $183.81 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. Analysts forecast that Webster Financial Co. will post $2.40 EPS for the current year.

Several brokerages recently commented on WBS. FBR & Co reiterated a “hold” rating and issued a $54.00 target price on shares of Webster Financial in a report on Friday, January 20th. Zacks Investment Research downgraded shares of Webster Financial from a “buy” rating to a “hold” rating in a report on Wednesday, March 8th. Finally, Wells Fargo & Co downgraded shares of Webster Financial from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $42.69.

In related news, Director John Joseph Crawford sold 5,000 shares of the stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $51.47, for a total transaction of $257,350.00. Following the completion of the transaction, the director now owns 10,505 shares in the company, valued at $540,692.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel Bley sold 13,671 shares of the stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $51.74, for a total transaction of $707,337.54. Following the transaction, the executive vice president now owns 29,216 shares of the company’s stock, valued at approximately $1,511,635.84. The disclosure for this sale can be found here. Insiders have sold 217,823 shares of company stock valued at $11,750,021 in the last 90 days. 2.59% of the stock is currently owned by corporate insiders.

About Webster Financial

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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