Zurcher Kantonalbank Zurich Cantonalbank Acquires 9,625 Shares of Webster Financial Co. (NYSE:WBS)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Webster Financial Co. (NYSE:WBS) by 35.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,655 shares of the financial services provider’s stock after buying an additional 9,625 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Webster Financial were worth $1,861,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of WBS. FMR LLC raised its stake in Webster Financial by 22.6% in the third quarter. FMR LLC now owns 7,258,411 shares of the financial services provider’s stock worth $292,587,000 after buying an additional 1,339,862 shares in the last quarter. American Century Companies Inc. grew its holdings in Webster Financial by 1,773.9% in the third quarter. American Century Companies Inc. now owns 1,324,457 shares of the financial services provider’s stock worth $53,389,000 after purchasing an additional 1,253,778 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in Webster Financial by 422.1% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 319,832 shares of the financial services provider’s stock worth $12,892,000 after purchasing an additional 258,572 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Webster Financial by 20.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,205,264 shares of the financial services provider’s stock worth $48,584,000 after purchasing an additional 204,221 shares during the last quarter. Finally, Strs Ohio grew its holdings in Webster Financial by 43.2% in the fourth quarter. Strs Ohio now owns 625,400 shares of the financial services provider’s stock worth $31,745,000 after purchasing an additional 188,800 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

Insiders Place Their Bets

In other Webster Financial news, COO Luis Massiani sold 13,500 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total value of $697,005.00. Following the completion of the transaction, the chief operating officer now owns 89,621 shares in the company, valued at $4,627,132.23. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Webster Financial news, insider Christopher J. Motl sold 10,475 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total value of $548,890.00. Following the completion of the transaction, the insider now owns 63,306 shares in the company, valued at $3,317,234.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Luis Massiani sold 13,500 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total transaction of $697,005.00. Following the completion of the transaction, the chief operating officer now owns 89,621 shares of the company’s stock, valued at approximately $4,627,132.23. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,975 shares of company stock worth $1,341,095. Company insiders own 0.88% of the company’s stock.

Webster Financial Price Performance

NYSE:WBS opened at $45.54 on Thursday. Webster Financial Co. has a one year low of $31.03 and a one year high of $53.39. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 0.37 and a beta of 1.33. The firm’s fifty day moving average is $47.97 and its two-hundred day moving average is $46.50.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The business had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $680.72 million. During the same period in the previous year, the company posted $1.49 earnings per share. Webster Financial’s revenue for the quarter was up .2% compared to the same quarter last year. Research analysts expect that Webster Financial Co. will post 5.76 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on WBS shares. JPMorgan Chase & Co. cut their price target on shares of Webster Financial from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday. Morgan Stanley lifted their price target on shares of Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Keefe, Bruyette & Woods cut their price target on shares of Webster Financial from $64.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday. Bank of America assumed coverage on shares of Webster Financial in a report on Thursday, January 11th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Citigroup dropped their price objective on shares of Webster Financial from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.23.

Webster Financial Company Profile

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.