Webster Financial Co. (NYSE:WBS) Shares Purchased by Assetmark Inc.

Assetmark Inc. raised its stake in Webster Financial Co. (NYSE:WBS) by 9.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,611 shares of the financial services provider’s stock after acquiring an additional 222 shares during the period. Assetmark Inc.’s holdings in Webster Financial were worth $122,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new stake in shares of Webster Financial in the 3rd quarter worth about $27,000. UMB Bank n.a. raised its holdings in shares of Webster Financial by 340.7% during the third quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock valued at $28,000 after buying an additional 460 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in shares of Webster Financial during the second quarter valued at approximately $32,000. Mather Group LLC. boosted its position in shares of Webster Financial by 7,650.0% during the second quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock worth $54,000 after buying an additional 1,224 shares during the period. Finally, NBC Securities Inc. grew its holdings in Webster Financial by 117.9% in the 3rd quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock worth $59,000 after buying an additional 686 shares in the last quarter. 85.58% of the stock is owned by institutional investors.

Webster Financial Price Performance

NYSE WBS opened at $60.07 on Monday. Webster Financial Co. has a 1 year low of $39.33 and a 1 year high of $61.12. The business’s fifty day moving average is $49.79 and its two-hundred day moving average is $46.51. The stock has a market capitalization of $10.30 billion, a P/E ratio of 13.62, a P/E/G ratio of 0.89 and a beta of 1.27. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86.

Webster Financial (NYSE:WBS) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The company had revenue of $647.62 million for the quarter, compared to analyst estimates of $677.72 million. During the same period last year, the firm earned $1.55 earnings per share. On average, research analysts forecast that Webster Financial Co. will post 5.24 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.66%. The ex-dividend date was Friday, November 1st. Webster Financial’s payout ratio is 36.28%.

Insider Transactions at Webster Financial

In related news, insider Javier L. Evans sold 10,137 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $57.41, for a total transaction of $581,965.17. Following the transaction, the insider now directly owns 22,657 shares of the company’s stock, valued at approximately $1,300,738.37. The trade was a 30.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Bley sold 3,463 shares of Webster Financial stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $52.10, for a total value of $180,422.30. Following the transaction, the insider now directly owns 19,529 shares in the company, valued at approximately $1,017,460.90. This trade represents a 15.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,100 shares of company stock valued at $1,202,237 over the last ninety days. Corporate insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on WBS. Barclays boosted their price target on Webster Financial from $60.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Royal Bank of Canada upped their price objective on shares of Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Stephens set a $58.00 target price on shares of Webster Financial in a research note on Thursday, October 17th. StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.85.

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.