Geode Capital Management LLC Buys 54,613 Shares of Webster Financial Co. (NYSE:WBS)

Geode Capital Management LLC grew its stake in Webster Financial Co. (NYSE:WBS) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,969,928 shares of the financial services provider’s stock after purchasing an additional 54,613 shares during the quarter. Geode Capital Management LLC’s holdings in Webster Financial were worth $138,465,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of WBS. M&T Bank Corp lifted its position in Webster Financial by 6.6% during the third quarter. M&T Bank Corp now owns 6,155 shares of the financial services provider’s stock worth $287,000 after acquiring an additional 383 shares during the last quarter. Barclays PLC lifted its holdings in Webster Financial by 36.4% during the 3rd quarter. Barclays PLC now owns 297,834 shares of the financial services provider’s stock worth $13,883,000 after purchasing an additional 79,556 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Webster Financial by 2.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 68,552 shares of the financial services provider’s stock valued at $3,195,000 after purchasing an additional 1,784 shares during the period. XTX Topco Ltd acquired a new position in Webster Financial in the 3rd quarter valued at $690,000. Finally, EP Wealth Advisors LLC bought a new position in Webster Financial during the 3rd quarter worth $243,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Insider Activity

In other Webster Financial news, insider Daniel Bley sold 3,463 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $52.10, for a total value of $180,422.30. Following the completion of the transaction, the insider now directly owns 19,529 shares in the company, valued at approximately $1,017,460.90. This represents a 15.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $52.43, for a total transaction of $209,720.00. Following the transaction, the chief accounting officer now directly owns 14,273 shares of the company’s stock, valued at $748,333.39. The trade was a 21.89 % 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 over the last quarter. 0.88% of the stock is owned by company insiders.

Webster Financial Stock Performance

Webster Financial stock opened at $59.03 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. The stock has a market cap of $10.12 billion, a PE ratio of 13.39, a P/E/G ratio of 0.87 and a beta of 1.29. Webster Financial Co. has a 12-month low of $39.33 and a 12-month high of $63.99. The business’s 50-day moving average price is $56.00 and its two-hundred day moving average price is $48.76.

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

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Friday, November 1st. Webster Financial’s dividend payout ratio (DPR) is currently 36.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Wedbush boosted their price objective on shares of Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Royal Bank of Canada raised their target price on shares of Webster Financial from $57.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. Finally, Stephens set a $58.00 price target on Webster Financial in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Webster Financial has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

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.