Fisher Asset Management LLC Purchases 9,730 Shares of Webster Financial Corporation $WBS

Fisher Asset Management LLC increased its position in shares of Webster Financial Corporation (NYSE:WBS) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 795,313 shares of the financial services provider’s stock after purchasing an additional 9,730 shares during the period. Fisher Asset Management LLC owned about 0.47% of Webster Financial worth $43,424,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Amundi lifted its holdings in shares of Webster Financial by 699.7% during the 1st quarter. Amundi now owns 137,740 shares of the financial services provider’s stock worth $7,100,000 after acquiring an additional 120,516 shares during the period. Pallas Capital Advisors LLC acquired a new position in Webster Financial in the second quarter worth about $474,000. LPL Financial LLC raised its position in Webster Financial by 9.9% in the first quarter. LPL Financial LLC now owns 77,103 shares of the financial services provider’s stock worth $3,975,000 after purchasing an additional 6,948 shares in the last quarter. Great Lakes Advisors LLC lifted its stake in Webster Financial by 3,066.1% during the first quarter. Great Lakes Advisors LLC now owns 126,012 shares of the financial services provider’s stock worth $6,496,000 after purchasing an additional 122,032 shares during the period. Finally, Hunter Perkins Capital Management LLC boosted its holdings in Webster Financial by 15.9% during the second quarter. Hunter Perkins Capital Management LLC now owns 118,256 shares of the financial services provider’s stock valued at $6,457,000 after purchasing an additional 16,211 shares in the last quarter. 85.58% of the stock is owned by institutional investors.

Webster Financial Stock Performance

Shares of NYSE:WBS opened at $60.40 on Wednesday. The business has a fifty day moving average of $57.68 and a 200-day moving average of $57.37. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.85 and a current ratio of 0.85. Webster Financial Corporation has a twelve month low of $39.43 and a twelve month high of $63.59. The firm has a market cap of $9.74 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 0.50 and a beta of 1.13.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Friday, October 17th. The financial services provider reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.02. Webster Financial had a net margin of 21.32% and a return on equity of 11.07%. The firm had revenue of $756.06 million for the quarter, compared to analyst estimates of $725.22 million. During the same quarter in the prior year, the firm earned $1.34 EPS. On average, equities research analysts predict that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, November 10th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Monday, November 10th. Webster Financial’s dividend payout ratio (DPR) is presently 29.80%.

Insider Buying and Selling at Webster Financial

In other news, CAO Elzbieta Cieslik sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $61.58, for a total value of $123,160.00. Following the transaction, the chief accounting officer owned 14,894 shares of the company’s stock, valued at approximately $917,172.52. This trade represents a 11.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $55.45, for a total transaction of $443,600.00. Following the sale, the chief executive officer directly owned 231,872 shares of the company’s stock, valued at approximately $12,857,302.40. This trade represents a 3.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,000 shares of company stock valued at $628,380 over the last three months. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on WBS shares. Barclays raised their target price on Webster Financial from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Morgan Stanley lifted their price objective on Webster Financial from $64.00 to $77.00 and gave the company an “underperform” rating in a report on Monday, September 29th. Cowen started coverage on shares of Webster Financial in a research note on Wednesday, September 24th. They issued a “buy” rating on the stock. Cantor Fitzgerald initiated coverage on shares of Webster Financial in a research report on Wednesday, September 10th. They set an “overweight” rating and a $70.00 target price for the company. Finally, Wells Fargo & Company cut their price target on shares of Webster Financial from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Thirteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.85.

About Webster Financial

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.