Allspring Global Investments Holdings LLC Acquires 98,571 Shares of Webster Financial Co. (NYSE:WBS)

Allspring Global Investments Holdings LLC raised its holdings in shares of Webster Financial Co. (NYSE:WBS) by 6.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,682,750 shares of the financial services provider’s stock after purchasing an additional 98,571 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Webster Financial were worth $73,351,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Rise Advisors LLC acquired a new position in shares of Webster Financial in the first quarter valued at approximately $29,000. Spire Wealth Management lifted its position in Webster Financial by 79.1% in the 4th quarter. Spire Wealth Management now owns 607 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 268 shares in the last quarter. Principal Securities Inc. bought a new stake in Webster Financial in the 4th quarter valued at $45,000. Mather Group LLC. boosted its stake in Webster Financial by 7,650.0% in the 2nd quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 1,224 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in Webster Financial by 29.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,114 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 255 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Webster Financial from $63.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, June 27th. Royal Bank of Canada reduced their price target on Webster Financial from $54.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Barclays lowered their price objective on shares of Webster Financial from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Jefferies Financial Group reduced their target price on shares of Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Finally, Morgan Stanley cut shares of Webster Financial from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $54.00 to $57.00 in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Webster Financial currently has an average rating of “Moderate Buy” and a consensus target price of $55.36.

Webster Financial Trading Down 0.2 %

WBS stock opened at $46.61 on Wednesday. Webster Financial Co. has a one year low of $36.36 and a one year high of $53.39. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 0.67 and a beta of 1.30. The company has a fifty day moving average price of $45.14 and a two-hundred day moving average price of $45.82. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.85.

Webster Financial (NYSE:WBS) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). Webster Financial had a return on equity of 11.81% and a net margin of 19.81%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $671.91 million. During the same quarter in the prior year, the business posted $1.50 EPS. Equities analysts anticipate that Webster Financial Co. will post 5.27 EPS for the current year.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Monday, July 29th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.43%. Webster Financial’s dividend payout ratio (DPR) is currently 32.79%.

Insider Activity at Webster Financial

In other news, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $48.04, for a total transaction of $384,320.00. Following the transaction, the chief executive officer now directly owns 237,049 shares of the company’s stock, valued at $11,387,833.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO John R. Ciulla sold 8,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $48.04, for a total value of $384,320.00. Following the completion of the transaction, the chief executive officer now owns 237,049 shares of the company’s stock, valued at $11,387,833.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jason A. Soto sold 1,650 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total transaction of $76,428.00. Following the sale, the insider now owns 20,539 shares in the company, valued at $951,366.48. The disclosure for this sale can be found here. Insiders sold 14,650 shares of company stock worth $706,098 in the last ninety days. 0.88% of the stock is owned by company insiders.

Webster Financial 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.