2,182,122 Shares in Webster Financial Co. (NYSE:WBS) Purchased by Norges Bank

Norges Bank acquired a new stake in shares of Webster Financial Co. (NYSE:WBS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,182,122 shares of the financial services provider’s stock, valued at approximately $120,497,000. Norges Bank owned about 1.27% of Webster Financial as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WBS. TimesSquare Capital Management LLC lifted its stake in shares of Webster Financial by 759.8% during the 4th quarter. TimesSquare Capital Management LLC now owns 823,280 shares of the financial services provider’s stock valued at $45,462,000 after buying an additional 727,530 shares in the last quarter. Wealthfront Advisers LLC bought a new stake in Webster Financial during the 4th quarter valued at $27,163,000. Boston Partners raised its holdings in Webster Financial by 1,491.7% during the 4th quarter. Boston Partners now owns 485,776 shares of the financial services provider’s stock valued at $26,838,000 after acquiring an additional 455,257 shares during the period. State Street Corp lifted its position in shares of Webster Financial by 4.8% during the third quarter. State Street Corp now owns 7,320,930 shares of the financial services provider’s stock worth $341,229,000 after acquiring an additional 333,606 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Webster Financial by 57.6% in the third quarter. Wellington Management Group LLP now owns 770,684 shares of the financial services provider’s stock worth $35,922,000 after acquiring an additional 281,686 shares during the period. Institutional investors own 85.58% of the company’s stock.

Webster Financial Price Performance

WBS opened at $51.59 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $8.84 billion, a P/E ratio of 11.80, a PEG ratio of 1.02 and a beta of 1.28. The stock has a 50-day moving average price of $55.60 and a 200-day moving average price of $54.64. Webster Financial Co. has a 12-month low of $39.34 and a 12-month high of $63.99.

Webster Financial (NYSE:WBS) last issued its earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.08. The business had revenue of $661.00 million during the quarter, compared to analyst estimates of $687.53 million. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. During the same quarter in the prior year, the firm earned $1.46 earnings per share. Equities analysts predict that Webster Financial Co. will post 5.88 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Monday, February 10th. Webster Financial’s payout ratio is presently 36.61%.

Insiders Place Their Bets

In other news, Director Laurence C. Morse sold 13,217 shares of Webster Financial stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total value of $780,728.19. Following the transaction, the director now owns 18,808 shares in the company, valued at approximately $1,110,988.56. The trade was a 41.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.43, for a total value of $459,440.00. Following the sale, the chief executive officer now owns 210,051 shares of the company’s stock, valued at $12,063,228.93. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.

Analyst Ratings Changes

WBS has been the subject of several analyst reports. Royal Bank of Canada raised their target price on Webster Financial from $66.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Barclays raised their price objective on shares of Webster Financial from $63.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. UBS Group began coverage on shares of Webster Financial in a report on Tuesday, December 17th. They set a “buy” rating and a $76.00 target price on the stock. JPMorgan Chase & Co. cut their price target on shares of Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Wells Fargo & Company raised shares of Webster Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $75.00 in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.36.

Webster Financial Company 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.