Legal & General Group Plc Boosts Position in Webster Financial Corporation $WBS

Legal & General Group Plc lifted its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 1.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 273,914 shares of the financial services provider’s stock after purchasing an additional 4,817 shares during the period. Legal & General Group Plc’s holdings in Webster Financial were worth $14,956,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in Webster Financial by 7.4% during the first quarter. Dimensional Fund Advisors LP now owns 7,108,082 shares of the financial services provider’s stock worth $366,408,000 after buying an additional 487,264 shares during the period. Invesco Ltd. increased its stake in shares of Webster Financial by 3.1% during the 1st quarter. Invesco Ltd. now owns 5,049,297 shares of the financial services provider’s stock valued at $260,291,000 after acquiring an additional 153,236 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Webster Financial by 0.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,597,943 shares of the financial services provider’s stock valued at $237,025,000 after acquiring an additional 42,406 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Webster Financial by 1.6% during the 1st quarter. American Century Companies Inc. now owns 3,015,647 shares of the financial services provider’s stock worth $155,457,000 after acquiring an additional 48,942 shares during the period. Finally, Pzena Investment Management LLC boosted its position in shares of Webster Financial by 1.5% in the second quarter. Pzena Investment Management LLC now owns 1,612,758 shares of the financial services provider’s stock worth $88,057,000 after acquiring an additional 23,605 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Webster Financial Stock Up 0.3%

Shares of NYSE WBS opened at $59.60 on Friday. The stock has a fifty day moving average price of $57.69 and a 200 day moving average price of $57.24. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.42. Webster Financial Corporation has a 12-month low of $39.43 and a 12-month high of $63.59. The company has a market cap of $9.61 billion, a P/E ratio of 11.10, a P/E/G ratio of 0.50 and a beta of 1.13.

Webster Financial (NYSE:WBS) last issued its earnings results on Friday, October 17th. The financial services provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.02. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.The company had revenue of $756.06 million during the quarter, compared to the consensus estimate of $725.22 million. During the same quarter in the prior year, the business earned $1.34 earnings per share. Research analysts anticipate that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, November 10th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.60 annualized dividend and a yield of 2.7%. Webster Financial’s dividend payout ratio (DPR) is 29.80%.

Analysts Set New Price Targets

Several brokerages recently commented on WBS. Cantor Fitzgerald assumed coverage on shares of Webster Financial in a research report on Wednesday, September 10th. They set an “overweight” rating and a $70.00 price target for the company. Wells Fargo & Company lowered their price objective on shares of Webster Financial from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. JPMorgan Chase & Co. dropped their price objective on Webster Financial from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. Truist Financial reduced their target price on Webster Financial from $69.00 to $67.00 and set a “buy” rating on the stock in a report on Monday, October 20th. Finally, Cowen initiated coverage on Webster Financial in a research report on Wednesday, September 24th. They set a “buy” rating for the company. Thirteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.85.

Insider Buying and Selling

In related news, CAO Elzbieta Cieslik sold 2,000 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $61.58, for a total transaction of $123,160.00. Following the completion of the sale, the chief accounting officer directly owned 14,894 shares of the company’s stock, valued at approximately $917,172.52. This trade represents a 11.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction on Monday, November 17th. The stock was sold at an average price of $55.45, for a total transaction of $443,600.00. Following the sale, the chief executive officer directly owned 231,872 shares in the company, valued at $12,857,302.40. This trade represents a 3.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 11,000 shares of company stock worth $628,380 in the last quarter. Insiders own 0.54% of the company’s stock.

Webster Financial 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.