BlackRock Inc. raised its holdings in Webster Financial Co. (NYSE:WBS) by 1.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,526,231 shares of the financial services provider’s stock after purchasing an additional 90,273 shares during the quarter. BlackRock Inc. owned 9.24% of Webster Financial worth $502,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the business. Janney Montgomery Scott LLC grew its stake in Webster Financial by 4.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 16,976 shares of the financial services provider’s stock valued at $1,081,000 after purchasing an additional 762 shares during the period. Envestnet Asset Management Inc. grew its stake in Webster Financial by 12.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 8,751 shares of the financial services provider’s stock valued at $557,000 after purchasing an additional 984 shares during the period. Oregon Public Employees Retirement Fund grew its stake in Webster Financial by 3.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 35,630 shares of the financial services provider’s stock valued at $2,270,000 after purchasing an additional 1,036 shares during the period. American International Group Inc. grew its stake in Webster Financial by 0.6% in the 2nd quarter. American International Group Inc. now owns 185,346 shares of the financial services provider’s stock valued at $11,807,000 after purchasing an additional 1,086 shares during the period. Finally, Arizona State Retirement System grew its stake in Webster Financial by 2.4% in the 3rd quarter. Arizona State Retirement System now owns 65,486 shares of the financial services provider’s stock valued at $3,861,000 after purchasing an additional 1,544 shares during the period. Hedge funds and other institutional investors own 89.08% of the company’s stock.
In other news, Director John Joseph Crawford sold 2,000 shares of the company’s stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $59.77, for a total transaction of $119,540.00. Following the transaction, the director now owns 8,792 shares of the company’s stock, valued at approximately $525,497.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is owned by corporate insiders.
Shares of NYSE WBS opened at $54.25 on Friday. Webster Financial Co. has a one year low of $51.69 and a one year high of $69.63. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $5.20 billion, a PE ratio of 20.95, a PEG ratio of 1.90 and a beta of 1.03.
Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Thursday, October 18th. The financial services provider reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.12. Webster Financial had a return on equity of 12.36% and a net margin of 25.77%. The firm had revenue of $302.66 million for the quarter, compared to analysts’ expectations of $299.30 million. During the same quarter in the prior year, the firm earned $0.67 EPS. As a group, research analysts expect that Webster Financial Co. will post 3.71 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, November 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.43%. Webster Financial’s dividend payout ratio is presently 50.97%.
A number of research analysts have issued reports on WBS shares. ValuEngine downgraded Webster Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, September 12th. Morgan Stanley reaffirmed a “sell” rating and set a $60.00 price target (down previously from $62.00) on shares of Webster Financial in a research report on Tuesday, September 18th. Zacks Investment Research cut Webster Financial from a “buy” rating to a “hold” rating in a research report on Friday, September 21st. Barclays raised Webster Financial from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $70.00 to $69.00 in a research report on Wednesday, October 3rd. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Webster Financial in a research report on Friday, October 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $62.50.
Webster Financial Company Profile
Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides financial services to individuals, families, and businesses in the United States. It operates through four segments: Commercial Banking, Community Banking, HSA Bank, and Private Banking.
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