Allianz Asset Management GmbH Purchases Shares of 60,824 Webster Financial Corporation $WBS

Allianz Asset Management GmbH acquired a new position in shares of Webster Financial Corporation (NYSE:WBS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 60,824 shares of the financial services provider’s stock, valued at approximately $3,615,000.

Several other institutional investors have also made changes to their positions in the business. Root Financial Partners LLC acquired a new position in Webster Financial in the third quarter worth about $29,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Webster Financial in the 3rd quarter valued at approximately $33,000. IFP Advisors Inc raised its holdings in shares of Webster Financial by 3,628.6% in the 2nd quarter. IFP Advisors Inc now owns 783 shares of the financial services provider’s stock worth $43,000 after buying an additional 762 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Webster Financial by 56.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 829 shares of the financial services provider’s stock worth $45,000 after buying an additional 298 shares during the period. Finally, Quent Capital LLC acquired a new stake in Webster Financial in the 3rd quarter valued at $47,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Webster Financial Price Performance

Shares of WBS opened at $73.09 on Wednesday. The firm has a market capitalization of $11.79 billion, a PE ratio of 12.37 and a beta of 1.07. Webster Financial Corporation has a 52-week low of $39.43 and a 52-week high of $73.87. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a 50 day simple moving average of $65.20 and a 200 day simple moving average of $60.93.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Friday, January 23rd. The financial services provider reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.07. The business had revenue of $760.48 million for the quarter, compared to analyst estimates of $731.95 million. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. During the same quarter in the previous year, the firm posted $1.43 earnings per share. Sell-side analysts predict that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Monday, February 9th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, February 9th. This represents a $1.60 annualized dividend and a yield of 2.2%. Webster Financial’s dividend payout ratio (DPR) is 27.07%.

Insider Activity

In other news, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction on Monday, November 17th. The stock was sold at an average price of $55.45, for a total transaction of $443,600.00. Following the completion of the sale, the chief executive officer owned 231,872 shares of the company’s stock, valued at approximately $12,857,302.40. This trade represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

WBS has been the subject of several recent analyst reports. Morgan Stanley dropped their price objective on Webster Financial from $77.00 to $75.00 and set an “equal weight” rating for the company in a research note on Thursday, February 5th. Truist Financial cut shares of Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 target price for the company. in a research report on Wednesday, February 4th. Wells Fargo & Company restated an “equal weight” rating and issued a $70.00 price target on shares of Webster Financial in a research report on Friday. Citigroup dropped their price objective on shares of Webster Financial from $77.00 to $75.00 and set a “buy” rating for the company in a report on Monday, January 26th. Finally, JPMorgan Chase & Co. boosted their target price on Webster Financial from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Six equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.36.

Webster Financial Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.