Geode Capital Management LLC Raises Position in Webster Financial Co. (WBS)

Geode Capital Management LLC raised its stake in Webster Financial Co. (NYSE:WBS) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 775,576 shares of the financial services provider’s stock after acquiring an additional 11,102 shares during the quarter. Geode Capital Management LLC’s holdings in Webster Financial were worth $43,556,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new position in Webster Financial in the third quarter valued at $202,000. Fox Run Management L.L.C. acquired a new position in Webster Financial in the fourth quarter valued at $264,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Webster Financial by 39.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,788 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 1,353 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in Webster Financial in the fourth quarter valued at $271,000. Finally, Quadrature Capital Ltd acquired a new position in Webster Financial in the fourth quarter valued at $289,000. 94.63% of the stock is owned by institutional investors.

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In other Webster Financial news, Director Joel S. Becker sold 5,064 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $54.22, for a total transaction of $274,570.08. Following the sale, the director now owns 58,283 shares in the company, valued at $3,160,104.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel Bley sold 2,917 shares of the company’s stock in a transaction that occurred 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 approximately $1,153,979.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,272 shares of company stock worth $629,959. Insiders own 2.20% of the company’s stock.

A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded Webster Financial from a “buy” rating to a “hold” rating and set a $63.00 price target for the company. in a research report on Saturday, January 6th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $71.00 price target on shares of Webster Financial in a research report on Friday, December 22nd. Barclays boosted their price target on Webster Financial from $55.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Boenning Scattergood reissued a “hold” rating on shares of Webster Financial in a research report on Thursday, January 18th. Finally, Wells Fargo reissued a “market perform” rating and set a $60.00 price target (up previously from $55.00) on shares of Webster Financial in a research report on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $59.82.

Shares of Webster Financial stock opened at $57.49 on Monday. Webster Financial Co. has a 1 year low of $44.04 and a 1 year high of $60.32. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $5,295.46, a PE ratio of 21.61, a PEG ratio of 2.13 and a beta of 1.14.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.06. Webster Financial had a return on equity of 9.91% and a net margin of 21.77%. The business had revenue of $270.97 million for the quarter, compared to analysts’ expectations of $269.64 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The company’s revenue was up 5.9% compared to the same quarter last year. research analysts expect that Webster Financial Co. will post 3.37 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Monday, February 12th. Webster Financial’s dividend payout ratio (DPR) is 39.10%.

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Webster Financial 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, which includes government and institutional banking.

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Institutional Ownership by Quarter for Webster Financial (NYSE:WBS)

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