Jane Street Group LLC raised its stake in shares of Webster Financial Corporation (NYSE:WBS) by 73.6% during the third quarter, Holdings Channel reports. The institutional investor owned 12,822 shares of the financial services provider’s stock after buying an additional 5,438 shares during the period. Jane Street Group LLC’s holdings in Webster Financial Corporation were worth $487,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Webster Financial Corporation by 4.1% in the second quarter. Vanguard Group Inc. now owns 6,619,433 shares of the financial services provider’s stock valued at $224,730,000 after buying an additional 260,067 shares during the period. BlackRock Fund Advisors raised its stake in Webster Financial Corporation by 6.3% in the third quarter. BlackRock Fund Advisors now owns 4,982,470 shares of the financial services provider’s stock valued at $189,384,000 after buying an additional 293,321 shares during the period. Capital Research Global Investors purchased a new stake in Webster Financial Corporation during the third quarter valued at $154,929,000. Lord Abbett & CO. LLC raised its stake in Webster Financial Corporation by 6,585.6% in the second quarter. Lord Abbett & CO. LLC now owns 3,366,404 shares of the financial services provider’s stock valued at $114,289,000 after buying an additional 3,316,051 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Webster Financial Corporation by 3.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,078,079 shares of the financial services provider’s stock valued at $116,998,000 after buying an additional 109,393 shares during the period. Institutional investors and hedge funds own 98.19% of the company’s stock.
Webster Financial Corporation (NYSE:WBS) traded up 0.46% on Friday, reaching $52.62. 823,845 shares of the company were exchanged. The stock has a market capitalization of $4.83 billion, a P/E ratio of 24.36 and a beta of 1.28. Webster Financial Corporation has a 12-month low of $31.29 and a 12-month high of $55.80. The company’s 50-day moving average price is $53.33 and its 200-day moving average price is $44.45.
Webster Financial Corporation (NYSE:WBS) last posted its quarterly earnings data on Thursday, January 19th. The financial services provider reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.05. Webster Financial Corporation had a net margin of 19.18% and a return on equity of 8.82%. The company had revenue of $255.90 million for the quarter, compared to analyst estimates of $183.81 million. During the same period in the prior year, the firm posted $0.55 EPS. The company’s quarterly revenue was up 9.5% on a year-over-year basis. Equities research analysts anticipate that Webster Financial Corporation will post $2.39 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 28th. Stockholders of record on Tuesday, February 14th will be paid a $0.25 dividend. This is a positive change from Webster Financial Corporation’s previous quarterly dividend of $0.25. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Friday, February 10th. Webster Financial Corporation’s dividend payout ratio is currently 45.87%.
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Several research firms have weighed in on WBS. FBR & Co reiterated a “hold” rating and issued a $54.00 target price on shares of Webster Financial Corporation in a report on Friday, January 20th. Wells Fargo & Company lowered shares of Webster Financial Corporation from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 31st. Zacks Investment Research upgraded shares of Webster Financial Corporation from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Wednesday, January 11th. Piper Jaffray Companies lowered shares of Webster Financial Corporation from a “neutral” rating to an “underweight” rating and set a $37.50 target price on the stock. in a report on Wednesday, November 16th. Finally, Deutsche Bank AG lowered shares of Webster Financial Corporation from a “buy” rating to a “hold” rating and set a $43.00 target price on the stock. in a report on Tuesday, November 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Webster Financial Corporation presently has a consensus rating of “Hold” and an average target price of $42.69.
In other news, Director Joel S. Becker sold 4,231 shares of the company’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $52.97, for a total value of $224,116.07. Following the sale, the director now directly owns 48,977 shares of the company’s stock, valued at approximately $2,594,311.69. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman James Copenhaver Smith sold 100,284 shares of the company’s stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $54.42, for a total transaction of $5,457,455.28. Following the completion of the sale, the chairman now directly owns 262,841 shares in the company, valued at $14,303,807.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 217,823 shares of company stock worth $11,750,021. Insiders own 2.59% of the company’s stock.
Webster Financial Corporation Company 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.
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