Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Webster Financial Co. (NYSE:WBS) by 39.4% in the fourth quarter, Holdings Channel reports. The firm owned 4,788 shares of the financial services provider’s stock after buying an additional 1,353 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Webster Financial were worth $269,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Rhumbline Advisers grew its holdings in shares of Webster Financial by 9.7% during the 3rd quarter. Rhumbline Advisers now owns 201,660 shares of the financial services provider’s stock worth $10,597,000 after acquiring an additional 17,810 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Webster Financial by 38.9% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 491,173 shares of the financial services provider’s stock worth $25,812,000 after acquiring an additional 137,635 shares during the period. BB&T Securities LLC grew its holdings in shares of Webster Financial by 119.7% during the 3rd quarter. BB&T Securities LLC now owns 8,930 shares of the financial services provider’s stock worth $469,000 after acquiring an additional 4,865 shares during the period. Stifel Financial Corp grew its holdings in shares of Webster Financial by 5.7% during the 3rd quarter. Stifel Financial Corp now owns 76,972 shares of the financial services provider’s stock worth $4,047,000 after acquiring an additional 4,171 shares during the period. Finally, California Public Employees Retirement System grew its holdings in shares of Webster Financial by 1.5% during the 3rd quarter. California Public Employees Retirement System now owns 198,074 shares of the financial services provider’s stock worth $10,409,000 after acquiring an additional 2,921 shares during the period. 96.15% of the stock is owned by institutional investors and hedge funds.
Shares of Webster Financial Co. (NYSE:WBS) opened at $57.18 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $5,266.33, a P/E ratio of 22.16, a P/E/G ratio of 2.12 and a beta of 1.15. Webster Financial Co. has a 52 week low of $44.04 and a 52 week high of $60.32.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, February 12th. This represents a $1.04 annualized dividend and a dividend yield of 1.82%. Webster Financial’s payout ratio is currently 39.10%.
In other Webster Financial news, Director Mark Pettie sold 3,291 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $56.34, for a total transaction of $185,414.94. Following the sale, the director now directly owns 16,405 shares in the company, valued at approximately $924,257.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Daniel Bley sold 2,917 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $58.27, for a total value of $169,973.59. Following the sale, the executive vice president now owns 19,804 shares in the company, valued at $1,153,979.08. The disclosure for this sale can be found here. Insiders sold a total of 11,272 shares of company stock worth $629,959 in the last 90 days. 2.20% of the stock is currently owned by company insiders.
A number of research analysts have weighed in on WBS shares. Deutsche Bank upped their target price on Webster Financial from $51.00 to $53.00 and gave the stock a “hold” rating in a report on Wednesday, November 8th. ValuEngine downgraded Webster Financial from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Zacks Investment Research upgraded Webster Financial from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Wednesday, December 20th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $71.00 target price on shares of Webster Financial in a report on Friday, December 22nd. Finally, Barclays upped their target price on Webster Financial from $55.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $59.82.
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Webster Financial Profile
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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