Allianz Asset Management GmbH Purchases New Holdings in Webster Financial Corporation $WBS

Allianz Asset Management GmbH acquired a new position in shares of Webster Financial Corporation (NYSE:WBS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 60,824 shares of the financial services provider’s stock, valued at approximately $3,615,000.

Several other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Webster Financial during the second quarter valued at $131,780,000. AQR Capital Management LLC boosted its position in Webster Financial by 221.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,565,623 shares of the financial services provider’s stock worth $85,483,000 after acquiring an additional 1,077,819 shares during the period. Azora Capital LP grew its stake in Webster Financial by 30.5% during the 2nd quarter. Azora Capital LP now owns 1,886,385 shares of the financial services provider’s stock valued at $102,997,000 after acquiring an additional 440,347 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Webster Financial by 14.5% in the 2nd quarter. American Century Companies Inc. now owns 3,453,778 shares of the financial services provider’s stock valued at $188,576,000 after purchasing an additional 438,131 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Webster Financial by 959.3% during the third quarter. Assenagon Asset Management S.A. now owns 358,294 shares of the financial services provider’s stock worth $21,297,000 after purchasing an additional 324,471 shares during the period. 85.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on WBS shares. Raymond James Financial upped their price target on shares of Webster Financial from $65.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Morgan Stanley lowered their target price on Webster Financial from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 5th. Barclays set a $75.00 price target on Webster Financial in a research note on Wednesday, February 4th. JPMorgan Chase & Co. lifted their price target on Webster Financial from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Finally, UBS Group lowered shares of Webster Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $77.00 to $75.00 in a research report on Thursday, February 5th. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $74.36.

Insiders Place Their Bets

In related news, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $55.45, for a total transaction of $443,600.00. Following the transaction, the chief executive officer directly owned 231,872 shares in the company, valued at $12,857,302.40. The trade was a 3.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is currently owned by company insiders.

Webster Financial Stock Performance

WBS opened at $73.09 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40. The stock’s 50 day moving average price is $65.20 and its two-hundred day moving average price is $60.93. The firm has a market capitalization of $11.79 billion, a P/E ratio of 12.37 and a beta of 1.07. Webster Financial Corporation has a 12-month low of $39.43 and a 12-month high of $73.87.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Friday, January 23rd. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.07. The business had revenue of $760.48 million for the quarter, compared to the consensus estimate of $731.95 million. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. During the same quarter last year, the company posted $1.43 earnings per share. On average, equities analysts forecast that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Monday, February 9th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Monday, February 9th. Webster Financial’s dividend payout ratio (DPR) is presently 27.07%.

Webster Financial Company Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.