Assenagon Asset Management S.A. Buys 23,328 Shares of Webster Financial Co. (NYSE:WBS)

Assenagon Asset Management S.A. boosted its stake in Webster Financial Co. (NYSE:WBS) by 4.9% during the 4th quarter, HoldingsChannel reports. The fund owned 498,465 shares of the financial services provider’s stock after acquiring an additional 23,328 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Webster Financial were worth $27,525,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WBS. M&G PLC raised its stake in shares of Webster Financial by 9.4% in the 3rd quarter. M&G PLC now owns 207,297 shares of the financial services provider’s stock valued at $9,743,000 after purchasing an additional 17,746 shares during the period. Bank of Montreal Can grew its holdings in shares of Webster Financial by 1,482.9% during the second quarter. Bank of Montreal Can now owns 339,246 shares of the financial services provider’s stock worth $14,801,000 after buying an additional 317,814 shares in the last quarter. Webster Bank N. A. grew its stake in shares of Webster Financial by 100.9% during the 3rd quarter. Webster Bank N. A. now owns 56,532 shares of the financial services provider’s stock worth $2,635,000 after acquiring an additional 28,393 shares in the last quarter. Hunter Perkins Capital Management LLC acquired a new stake in Webster Financial in the 3rd quarter valued at $4,761,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in Webster Financial by 76,570.5% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 72,837 shares of the financial services provider’s stock worth $3,395,000 after buying an additional 72,742 shares in the last quarter. 85.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Morgan Stanley dropped their target price on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. JPMorgan Chase & Co. cut their price objective on Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. UBS Group initiated coverage on shares of Webster Financial in a research report on Tuesday, December 17th. They set a “buy” rating and a $76.00 price target on the stock. Wedbush lifted their price objective on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a report on Saturday, January 11th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.58.

Webster Financial Price Performance

Webster Financial stock opened at $57.91 on Friday. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 0.99 and a beta of 1.30. The stock’s 50 day moving average is $58.08 and its 200-day moving average is $50.90. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. Webster Financial Co. has a 12 month low of $39.33 and a 12 month high of $63.99.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.01). The firm had revenue of $647.62 million for the quarter, compared to the consensus estimate of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same quarter in the previous year, the business earned $1.55 EPS. Equities research analysts expect that Webster Financial Co. will post 5.24 EPS for the current year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.76%. The ex-dividend date was Friday, November 1st. Webster Financial’s dividend payout ratio (DPR) is 36.28%.

Insider Buying and Selling at Webster Financial

In other news, insider Javier L. Evans sold 10,137 shares of Webster Financial stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $57.41, for a total value of $581,965.17. Following the completion of the sale, the insider now directly owns 22,657 shares in the company, valued at approximately $1,300,738.37. The trade was a 30.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Bley sold 500 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $61.91, for a total value of $30,955.00. Following the sale, the insider now directly owns 17,279 shares in the company, valued at $1,069,742.89. This represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,250 shares of company stock valued at $2,105,322 in the last quarter. Company insiders own 0.72% 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.