Assenagon Asset Management S.A. Has $597,000 Stake in Webster Financial Co. (NYSE:WBS)

Assenagon Asset Management S.A. lessened its stake in Webster Financial Co. (NYSE:WBSFree Report) by 75.3% in the third quarter, HoldingsChannel reports. The firm owned 14,814 shares of the financial services provider’s stock after selling 45,258 shares during the period. Assenagon Asset Management S.A.’s holdings in Webster Financial were worth $597,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in WBS. Vanguard Group Inc. increased its stake in shares of Webster Financial by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 17,679,692 shares of the financial services provider’s stock valued at $799,122,000 after acquiring an additional 116,092 shares during the last quarter. BlackRock Inc. increased its stake in Webster Financial by 2.1% in the first quarter. BlackRock Inc. now owns 17,498,723 shares of the financial services provider’s stock valued at $689,800,000 after purchasing an additional 362,728 shares in the last quarter. Capital International Investors raised its holdings in Webster Financial by 18.2% in the first quarter. Capital International Investors now owns 9,297,676 shares of the financial services provider’s stock worth $521,886,000 after purchasing an additional 1,433,204 shares during the period. State Street Corp boosted its position in shares of Webster Financial by 9.8% during the first quarter. State Street Corp now owns 7,904,283 shares of the financial services provider’s stock worth $311,587,000 after purchasing an additional 707,001 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Webster Financial by 2.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,277,694 shares of the financial services provider’s stock valued at $247,468,000 after buying an additional 120,649 shares during the period. Institutional investors and hedge funds own 86.37% of the company’s stock.

Insider Buying and Selling at Webster Financial

In related news, COO Luis Massiani sold 13,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total transaction of $697,005.00. Following the transaction, the chief operating officer now directly owns 89,621 shares of the company’s stock, valued at approximately $4,627,132.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Jack L. Kopnisky sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $50.18, for a total value of $250,900.00. Following the transaction, the insider now owns 310,041 shares of the company’s stock, valued at $15,557,857.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Luis Massiani sold 13,500 shares of Webster Financial stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total value of $697,005.00. Following the sale, the chief operating officer now directly owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The disclosure for this sale can be found here. Insiders have sold 32,941 shares of company stock worth $1,701,282 over the last 90 days. Company insiders own 0.88% of the company’s stock.

Webster Financial Price Performance

NYSE:WBS opened at $46.15 on Wednesday. Webster Financial Co. has a 52-week low of $31.03 and a 52-week high of $56.00. The company has a market cap of $7.94 billion, a P/E ratio of 9.44, a P/E/G ratio of 0.32 and a beta of 1.34. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50-day simple moving average is $49.66 and its 200 day simple moving average is $44.48.

Webster Financial (NYSE:WBSGet Free Report) last announced its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.02). The firm had revenue of $996.96 million during the quarter, compared to the consensus estimate of $674.82 million. Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. During the same period last year, the business earned $1.60 EPS. As a group, sell-side analysts forecast that Webster Financial Co. will post 5.92 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 16th. Shareholders of record on Monday, February 5th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Friday, February 2nd. Webster Financial’s dividend payout ratio (DPR) is presently 32.72%.

Analyst Ratings Changes

Several brokerages recently commented on WBS. Piper Sandler raised their price objective on Webster Financial from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, December 15th. Citigroup decreased their price objective on Webster Financial from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Royal Bank of Canada reissued an “outperform” rating and set a $59.00 target price on shares of Webster Financial in a research note on Wednesday, January 24th. Bank of America initiated coverage on shares of Webster Financial in a research note on Thursday, January 11th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Webster Financial has a consensus rating of “Moderate Buy” and a consensus target price of $55.46.

Read Our Latest Research Report on WBS

Webster Financial Profile

(Free Report)

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking. The Commercial Banking segment provides commercial real estate and equipment financing, business banking, asset-based lending, and commercial services; public sector finance; mortgage warehouse financing; treasury management services; credit, deposit, and cash flow management services; and wealth management solutions to business owners and operators, including trust, asset management, financial planning, insurance, retirement, and investment products, as well as derivative, treasury, accounts payable, accounts receivable, and trade products and services.

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Institutional Ownership by Quarter for Webster Financial (NYSE:WBS)

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