Fifth Third Bancorp Grows Stock Position in Webster Financial Co. (NYSE:WBS)

Fifth Third Bancorp grew its position in Webster Financial Co. (NYSE:WBSFree Report) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,119 shares of the financial services provider’s stock after acquiring an additional 2,067 shares during the quarter. Fifth Third Bancorp’s holdings in Webster Financial were worth $1,833,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WBS. Charles Schwab Investment Management Inc. lifted its position in Webster Financial by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,278,976 shares of the financial services provider’s stock worth $51,556,000 after buying an additional 21,026 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted its position in Webster Financial by 98.1% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 149,258 shares of the financial services provider’s stock worth $7,576,000 after buying an additional 73,924 shares in the last quarter. FDx Advisors Inc. lifted its position in Webster Financial by 7.6% during the third quarter. FDx Advisors Inc. now owns 5,753 shares of the financial services provider’s stock worth $232,000 after buying an additional 408 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Webster Financial by 58.2% during the third quarter. Envestnet Asset Management Inc. now owns 319,379 shares of the financial services provider’s stock worth $12,874,000 after buying an additional 117,437 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Webster Financial by 15.7% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 83,725 shares of the financial services provider’s stock worth $3,375,000 after buying an additional 11,387 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Insider Activity

In related news, 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 directly owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 directly owns 27,955 shares of the company’s stock, valued at approximately $1,330,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Luis Massiani sold 13,500 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total value of $697,005.00. Following the transaction, the chief operating officer now directly owns 89,621 shares of the company’s stock, valued at $4,627,132.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,941 shares of company stock valued at $1,545,582. 0.88% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

WBS has been the topic of a number of analyst reports. Barclays initiated coverage on Webster Financial in a research report on Friday, March 8th. They set an “overweight” rating and a $70.00 price objective on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $64.00 target price on shares of Webster Financial in a research note on Tuesday, March 26th. Raymond James reissued an “outperform” rating and set a $60.00 target price on shares of Webster Financial in a research note on Tuesday, March 26th. Piper Sandler raised their target price on Webster Financial from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, December 15th. Finally, Citigroup cut their target price on 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 investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.31.

View Our Latest Stock Report on WBS

Webster Financial Trading Up 0.0 %

Shares of NYSE WBS opened at $48.48 on Thursday. Webster Financial Co. has a twelve month low of $31.03 and a twelve month high of $53.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.41. The stock has a fifty day simple moving average of $48.43 and a 200-day simple moving average of $45.78. The stock has a market capitalization of $8.33 billion, a PE ratio of 9.91, a PEG ratio of 0.33 and a beta of 1.33.

Webster Financial (NYSE:WBSGet Free Report) last issued its quarterly earnings data 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). Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. The firm had revenue of $996.96 million during the quarter, compared to analyst estimates of $674.82 million. During the same period in the previous year, the firm posted $1.60 earnings per share. On average, equities analysts forecast that Webster Financial Co. will post 5.89 earnings per share for the current year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Monday, February 5th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.30%. Webster Financial’s payout ratio is presently 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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