22,706 Shares in Webster Financial Co. (NYSE:WBS) Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Webster Financial Co. (NYSE:WBS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 22,706 shares of the financial services provider’s stock, valued at approximately $1,153,000.

Several other large investors have also modified their holdings of the company. New York State Teachers Retirement System raised its position in Webster Financial by 0.3% in the 4th quarter. New York State Teachers Retirement System now owns 256,610 shares of the financial services provider’s stock valued at $13,026,000 after purchasing an additional 737 shares during the last quarter. Arkadios Wealth Advisors raised its holdings in shares of Webster Financial by 7.1% in the fourth quarter. Arkadios Wealth Advisors now owns 78,253 shares of the financial services provider’s stock valued at $3,972,000 after buying an additional 5,197 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Webster Financial during the fourth quarter worth about $4,438,000. Arizona State Retirement System grew its holdings in shares of Webster Financial by 1.6% during the fourth quarter. Arizona State Retirement System now owns 48,433 shares of the financial services provider’s stock worth $2,458,000 after buying an additional 760 shares during the last quarter. Finally, Trust Point Inc. acquired a new position in Webster Financial in the 4th quarter valued at about $219,000. 85.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $64.00 target price on shares of Webster Financial in a research note on Tuesday, March 26th. Bank of America started coverage on shares of Webster Financial in a research report on Thursday, January 11th. They set a “buy” rating and a $60.00 price objective for the company. StockNews.com downgraded shares of Webster Financial from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Raymond James reissued an “outperform” rating and set a $60.00 price target on shares of Webster Financial in a report on Tuesday, March 26th. Finally, Jefferies Financial Group dropped their target price on Webster Financial from $65.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.85.

Webster Financial Stock Up 1.7 %

WBS opened at $47.17 on Tuesday. Webster Financial Co. has a one year low of $31.03 and a one year high of $53.39. The company has a market cap of $8.10 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 0.37 and a beta of 1.33. The business’s fifty day moving average is $47.99 and its two-hundred day moving average is $46.46. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.85 and a current ratio of 0.85.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.02). The business 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 period in the previous year, the company posted $1.60 earnings per share. Analysts anticipate that Webster Financial Co. will post 5.86 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Monday, February 5th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.39%. Webster Financial’s dividend payout ratio is presently 32.72%.

Insider Transactions at Webster Financial

In other Webster Financial news, COO Luis Massiani sold 13,500 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $51.63, for a total transaction of $697,005.00. Following the sale, the chief operating officer now owns 89,621 shares in the company, valued at approximately $4,627,132.23. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Christopher J. Motl sold 10,475 shares of Webster Financial stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $52.40, for a total transaction of $548,890.00. Following the completion of the sale, the insider now directly owns 63,306 shares in the company, valued at $3,317,234.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Luis Massiani sold 13,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $51.63, for a total transaction of $697,005.00. Following the transaction, the chief operating officer now directly owns 89,621 shares in the company, valued at approximately $4,627,132.23. The disclosure for this sale can be found here. Insiders sold a total of 29,941 shares of company stock valued at $1,545,582 in the last ninety days. Corporate insiders own 0.72% of the company’s stock.

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.