Sei Investments Co. Boosts Stock Holdings in Webster Financial Co. (NYSE:WBS)

Sei Investments Co. lifted its stake in shares of Webster Financial Co. (NYSE:WBSFree Report) by 16.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,058,926 shares of the financial services provider’s stock after acquiring an additional 150,959 shares during the quarter. Sei Investments Co. owned 0.62% of Webster Financial worth $42,684,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of WBS. NBC Securities Inc. purchased a new position in Webster Financial in the third quarter valued at $32,000. Neo Ivy Capital Management purchased a new position in Webster Financial in the second quarter valued at $32,000. Lazard Asset Management LLC increased its holdings in Webster Financial by 9,388.9% in the second quarter. Lazard Asset Management LLC now owns 854 shares of the financial services provider’s stock valued at $32,000 after buying an additional 845 shares during the last quarter. Montag A & Associates Inc. purchased a new position in Webster Financial in the second quarter valued at $34,000. Finally, Geneos Wealth Management Inc. purchased a new position in Webster Financial in the third quarter valued at $36,000. Hedge funds and other institutional investors own 86.37% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on WBS shares. Raymond James increased their target price on Webster Financial from $57.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Piper Sandler increased their target price on shares of Webster Financial from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, December 15th. JPMorgan Chase & Co. upgraded shares of Webster Financial from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $65.00 in a research note on Wednesday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $59.00 target price on shares of Webster Financial in a research note on Wednesday, January 24th. Finally, Citigroup decreased their target price on shares of Webster Financial from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $56.23.

Check Out Our Latest Stock Analysis on WBS

Insider Activity at Webster Financial

In related news, insider Christopher J. Motl sold 10,475 shares of Webster Financial stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total transaction of $548,890.00. Following the transaction, the insider now owns 63,306 shares in the company, valued at approximately $3,317,234.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Christopher J. Motl sold 10,475 shares of Webster Financial stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total transaction of $548,890.00. Following the transaction, the insider now owns 63,306 shares in the company, valued at approximately $3,317,234.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel Bley sold 2,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total transaction of $95,200.00. Following the completion of the transaction, the insider now owns 27,955 shares in the company, valued at approximately $1,330,658. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,941 shares of company stock worth $1,796,482. 0.88% of the stock is currently owned by corporate insiders.

Webster Financial Stock Down 0.3 %

Shares of WBS opened at $48.81 on Friday. The firm has a market cap of $8.38 billion, a PE ratio of 9.98, a price-to-earnings-growth ratio of 0.33 and a beta of 1.32. The company’s fifty day moving average is $48.86 and its two-hundred day moving average is $44.81. Webster Financial Co. has a fifty-two week low of $31.03 and a fifty-two week high of $53.39. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.41.

Webster Financial (NYSE:WBSGet Free Report) last announced its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.02). The company had revenue of $996.96 million during the quarter, compared to analyst estimates of $674.82 million. Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. During the same quarter last year, the business earned $1.60 EPS. Analysts forecast that Webster Financial Co. will post 5.92 earnings per share for the current year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Monday, February 5th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.28%. Webster Financial’s payout ratio is 32.72%.

About Webster Financial

(Free Report)

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.

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

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