DekaBank Deutsche Girozentrale Raises Holdings in Webster Financial Co. (NYSE:WBS)

DekaBank Deutsche Girozentrale boosted its stake in shares of Webster Financial Co. (NYSE:WBS) by 175.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,892 shares of the financial services provider’s stock after acquiring an additional 4,390 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Webster Financial were worth $284,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Webster Financial by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 17,926,270 shares of the financial services provider’s stock worth $910,117,000 after purchasing an additional 54,841 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Webster Financial by 1.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,237,482 shares of the financial services provider’s stock valued at $316,678,000 after buying an additional 95,780 shares in the last quarter. Earnest Partners LLC boosted its stake in shares of Webster Financial by 11.2% during the 1st quarter. Earnest Partners LLC now owns 3,072,624 shares of the financial services provider’s stock worth $155,997,000 after acquiring an additional 308,455 shares in the last quarter. American Century Companies Inc. grew its position in shares of Webster Financial by 12.9% during the 2nd quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock valued at $115,096,000 after acquiring an additional 301,935 shares during the period. Finally, Norges Bank purchased a new position in shares of Webster Financial in the 4th quarter valued at about $97,217,000. 85.58% of the stock is owned by institutional investors and hedge funds.

Webster Financial Stock Down 0.7 %

WBS stock opened at $48.04 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average of $46.10 and a two-hundred day moving average of $45.66. Webster Financial Co. has a 12 month low of $36.36 and a 12 month high of $53.39. The company has a market cap of $8.24 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 0.67 and a beta of 1.28.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $671.91 million. Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. During the same quarter in the previous year, the business posted $1.50 EPS. As a group, analysts forecast that Webster Financial Co. will post 5.27 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Monday, July 29th were given a dividend of $0.40 per share. The ex-dividend date was Monday, July 29th. This represents a $1.60 annualized dividend and a dividend yield of 3.33%. Webster Financial’s payout ratio is 32.79%.

Insider Activity at Webster Financial

In other Webster Financial news, insider Jason A. Soto sold 1,650 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total value of $76,428.00. Following the transaction, the insider now directly owns 20,539 shares in the company, valued at approximately $951,366.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Webster Financial news, insider Jason A. Soto sold 1,650 shares of Webster Financial stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total value of $76,428.00. Following the sale, the insider now owns 20,539 shares in the company, valued at $951,366.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $48.04, for a total value of $384,320.00. Following the transaction, the chief executive officer now owns 237,049 shares of the company’s stock, valued at $11,387,833.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,650 shares of company stock valued at $706,098. 0.88% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. JPMorgan Chase & Co. dropped their price objective on Webster Financial from $63.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Keefe, Bruyette & Woods dropped their price target on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 9th. Royal Bank of Canada reduced their price objective on shares of Webster Financial from $54.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Morgan Stanley lowered shares of Webster Financial from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $54.00 to $57.00 in a research report on Monday, August 5th. Finally, Barclays reduced their price target on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.36.

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.