LS Investment Advisors LLC increased its position in Webster Financial Corporation (NYSE:WBS) by 17.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,335 shares of the financial services provider’s stock after buying an additional 1,114 shares during the period. LS Investment Advisors LLC’s holdings in Webster Financial Corporation were worth $383,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in WBS. BlackRock Inc. increased its position in Webster Financial Corporation by 14,031.4% in the first quarter. BlackRock Inc. now owns 10,092,772 shares of the financial services provider’s stock worth $505,043,000 after buying an additional 10,021,351 shares during the last quarter. State Street Corp increased its position in shares of Webster Financial Corporation by 12.5% in the first quarter. State Street Corp now owns 5,006,188 shares of the financial services provider’s stock worth $250,503,000 after buying an additional 556,988 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Webster Financial Corporation by 5.5% in the first quarter. Vanguard Group Inc. now owns 7,564,362 shares of the financial services provider’s stock worth $378,521,000 after buying an additional 395,457 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of Webster Financial Corporation by 90.6% in the first quarter. Artisan Partners Limited Partnership now owns 578,755 shares of the financial services provider’s stock worth $28,961,000 after buying an additional 275,056 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Webster Financial Corporation during the first quarter worth $11,766,000. 97.67% of the stock is owned by institutional investors.
Shares of Webster Financial Corporation (NYSE WBS) opened at 46.50 on Friday. The firm has a 50-day moving average of $51.56 and a 200-day moving average of $51.64. The company has a market capitalization of $4.28 billion, a P/E ratio of 19.38 and a beta of 1.25. Webster Financial Corporation has a one year low of $36.96 and a one year high of $57.50.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 7th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Thursday, August 3rd. Webster Financial Corporation’s dividend payout ratio is currently 43.33%.
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A number of equities research analysts have recently commented on WBS shares. Wedbush reiterated an “outperform” rating and set a $60.00 price target on shares of Webster Financial Corporation in a report on Tuesday, June 27th. Zacks Investment Research cut shares of Webster Financial Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Jefferies Group LLC set a $53.00 target price on shares of Webster Financial Corporation and gave the stock a “hold” rating in a report on Saturday, May 6th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $58.00 target price on shares of Webster Financial Corporation in a report on Friday, April 21st. Finally, BidaskClub upgraded shares of Webster Financial Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $53.00.
In other news, EVP Daniel Bley sold 8,000 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $51.20, for a total transaction of $409,600.00. Following the completion of the sale, the executive vice president now owns 25,657 shares in the company, valued at approximately $1,313,638.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nitin J. Mhatre sold 31,940 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $51.34, for a total value of $1,639,799.60. Following the sale, the executive vice president now owns 23,120 shares of the company’s stock, valued at approximately $1,186,980.80. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
About Webster Financial Corporation
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.
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