Allspring Global Investments Holdings LLC Buys 220,942 Shares of Webster Financial Co. (NYSE:WBS)

Allspring Global Investments Holdings LLC boosted its position in Webster Financial Co. (NYSE:WBS) by 16.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,584,179 shares of the financial services provider’s stock after buying an additional 220,942 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.92% of Webster Financial worth $80,429,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in WBS. Dimensional Fund Advisors LP raised its position in shares of Webster Financial by 12.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,916,013 shares of the financial services provider’s stock worth $198,785,000 after purchasing an additional 430,331 shares during the period. Earnest Partners LLC raised its holdings in Webster Financial by 8.4% during the third quarter. Earnest Partners LLC now owns 2,394,951 shares of the financial services provider’s stock worth $96,540,000 after buying an additional 184,905 shares during the last quarter. Davis Asset Management L.P. lifted its stake in shares of Webster Financial by 14.3% in the fourth quarter. Davis Asset Management L.P. now owns 2,000,000 shares of the financial services provider’s stock valued at $101,520,000 after buying an additional 250,000 shares in the last quarter. Norges Bank acquired a new position in shares of Webster Financial during the fourth quarter valued at about $97,217,000. Finally, Sei Investments Co. increased its position in shares of Webster Financial by 39.5% during the fourth quarter. Sei Investments Co. now owns 1,477,642 shares of the financial services provider’s stock worth $75,006,000 after acquiring an additional 418,716 shares in the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Webster Financial Price Performance

Shares of WBS traded up $0.46 during midday trading on Tuesday, hitting $44.72. 96,557 shares of the company traded hands, compared to its average volume of 1,167,143. Webster Financial Co. has a one year low of $36.36 and a one year high of $53.39. The firm has a market cap of $7.67 billion, a P/E ratio of 9.07, a PEG ratio of 0.53 and a beta of 1.30. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a 50-day moving average of $43.59 and a 200-day moving average of $47.02.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). The firm had revenue of $667.10 million during the quarter, compared to the consensus estimate of $680.72 million. Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.49 EPS. As a group, sell-side analysts predict that Webster Financial Co. will post 5.56 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date was Friday, May 3rd. Webster Financial’s dividend payout ratio is currently 32.79%.

Insider Transactions at Webster Financial

In other news, insider Daniel Bley sold 2,280 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $44.80, for a total value of $102,144.00. Following the completion of the transaction, the insider now directly owns 28,693 shares in the company, valued at approximately $1,285,446.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Jefferies Financial Group dropped their price target on shares of Webster Financial from $65.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. Barclays decreased their price target on Webster Financial from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Keefe, Bruyette & Woods dropped their price objective on Webster Financial from $64.00 to $58.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Royal Bank of Canada reduced their target price on shares of Webster Financial from $57.00 to $54.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Finally, Raymond James reissued an “outperform” rating and set a $60.00 price target on shares of Webster Financial in a research report on Tuesday, March 26th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.17.

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.