Webster Financial Co. (NYSE:WBS) Shares Bought by Assetmark Inc.

Assetmark Inc. boosted its stake in shares of Webster Financial Co. (NYSE:WBSGet Rating) by 20.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,912 shares of the financial services provider’s stock after purchasing an additional 325 shares during the period. Assetmark Inc.’s holdings in Webster Financial were worth $86,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Patriot Financial Group Insurance Agency LLC grew its position in Webster Financial by 1.7% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 16,987 shares of the financial services provider’s stock worth $716,000 after purchasing an additional 276 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Webster Financial by 1.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 25,577 shares of the financial services provider’s stock worth $1,078,000 after acquiring an additional 280 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of Webster Financial by 7.6% during the 1st quarter. Blair William & Co. IL now owns 4,298 shares of the financial services provider’s stock worth $241,000 after acquiring an additional 303 shares in the last quarter. First Foundation Advisors boosted its stake in shares of Webster Financial by 0.4% during the 2nd quarter. First Foundation Advisors now owns 75,344 shares of the financial services provider’s stock worth $3,176,000 after acquiring an additional 308 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Webster Financial by 24.5% during the 2nd quarter. CWM LLC now owns 1,731 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 341 shares in the last quarter. 85.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WBS shares. Raymond James started coverage on shares of Webster Financial in a research note on Friday, November 4th. They set an “outperform” rating and a $60.00 target price on the stock. Morgan Stanley initiated coverage on shares of Webster Financial in a research note on Monday, December 5th. They issued an “overweight” rating and a $70.00 price target on the stock. Piper Sandler decreased their price target on shares of Webster Financial to $55.00 in a research note on Wednesday, October 5th. StockNews.com downgraded shares of Webster Financial from a “hold” rating to a “sell” rating in a report on Monday, January 2nd. Finally, TheStreet upgraded shares of Webster Financial from a “c+” rating to a “b-” rating in a report on Tuesday, September 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $59.63.

Webster Financial Stock Up 3.1 %

Shares of NYSE WBS opened at $46.53 on Friday. The company has a 50 day simple moving average of $48.75 and a 200-day simple moving average of $48.14. The company has a market capitalization of $8.10 billion, a P/E ratio of 13.81 and a beta of 1.26. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.87. Webster Financial Co. has a 1 year low of $40.72 and a 1 year high of $63.23.

Webster Financial (NYSE:WBSGet Rating) last announced its quarterly earnings results on Thursday, October 20th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.06. The business had revenue of $664.60 million during the quarter, compared to the consensus estimate of $640.62 million. Webster Financial had a net margin of 23.15% and a return on equity of 12.09%. The business’s revenue was up 112.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.08 EPS. On average, equities research analysts predict that Webster Financial Co. will post 5.68 earnings per share for the current year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Friday, November 4th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.44%. Webster Financial’s dividend payout ratio (DPR) is currently 47.48%.

About Webster Financial

(Get Rating)

Webster Financial Corp. is a holding company, which engages in the provision of financial services to individuals, families, and businesses. It operates through the following business segments: Commercial Banking, HSA Bank, and Retail Banking. The Commercial Banking segment includes commercial banking and private banking.

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

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