Assenagon Asset Management S.A. Takes Position in Webster Financial Co. (NYSE:WBS)

Assenagon Asset Management S.A. bought a new position in Webster Financial Co. (NYSE:WBS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 475,137 shares of the financial services provider’s stock, valued at approximately $22,146,000.

Other hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets lifted its holdings in shares of Webster Financial by 156.5% during the 1st quarter. BNP Paribas Financial Markets now owns 96,052 shares of the financial services provider’s stock valued at $4,877,000 after purchasing an additional 58,602 shares during the last quarter. Sound Income Strategies LLC grew its stake in shares of Webster Financial by 1,859.1% during the second quarter. Sound Income Strategies LLC now owns 15,692 shares of the financial services provider’s stock worth $684,000 after acquiring an additional 14,891 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Webster Financial during the first quarter valued at about $3,529,000. TimesSquare Capital Management LLC raised its position in shares of Webster Financial by 28.9% in the 1st quarter. TimesSquare Capital Management LLC now owns 94,670 shares of the financial services provider’s stock valued at $4,806,000 after purchasing an additional 21,245 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Webster Financial by 14.8% in the 1st quarter. Sei Investments Co. now owns 1,696,519 shares of the financial services provider’s stock valued at $86,133,000 after acquiring an additional 218,877 shares during the period. 85.58% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Stock Down 1.3 %

Shares of WBS opened at $51.17 on Friday. The stock has a 50 day moving average price of $46.92 and a 200 day moving average price of $45.46. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 0.86 and a beta of 1.28. Webster Financial Co. has a one year low of $36.51 and a one year high of $54.38.

Webster Financial (NYSE:WBS) last posted its quarterly 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 net margin of 18.80% and a return on equity of 11.03%. The company had revenue of $647.62 million during the quarter, compared to analysts’ expectations of $677.72 million. During the same quarter last year, the company earned $1.55 earnings per share. Equities research analysts forecast that Webster Financial Co. will post 5.27 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, November 1st. Webster Financial’s dividend payout ratio (DPR) is presently 32.79%.

Insider Transactions at Webster Financial

In related news, Director Mark Pettie sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $51.14, for a total transaction of $230,130.00. Following the completion of the sale, the director now directly owns 32,780 shares in the company, valued at approximately $1,676,369.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Mark Pettie sold 4,500 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $51.14, for a total value of $230,130.00. Following the sale, the director now directly owns 32,780 shares in the company, valued at approximately $1,676,369.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Bley sold 3,463 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $52.10, for a total transaction of $180,422.30. Following the transaction, the insider now directly owns 19,529 shares of the company’s stock, valued at approximately $1,017,460.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,963 shares of company stock worth $620,272 in the last quarter. Company insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. decreased their target price on Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Keefe, Bruyette & Woods lowered their target price on 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 lifted their price target on Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Stephens set a $58.00 price target on shares of Webster Financial in a research report on Thursday, October 17th. Finally, Wells Fargo & Company increased their target price on shares of Webster Financial from $50.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.