Vanguard Group Inc. Has $224,730,000 Position in Webster Financial Corp. (WBS)
Vanguard Group Inc. boosted its stake in shares of Webster Financial Corp. (NYSE:WBS) by 4.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,619,433 shares of the financial services provider’s stock after buying an additional 260,067 shares during the period. Vanguard Group Inc. owned 7.22% of Webster Financial Corp. worth $224,730,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of WBS. Emerald Acquisition Ltd. purchased a new stake in shares of Webster Financial Corp. during the second quarter valued at $23,154,000. Mesirow Financial Investment Management Equity Management purchased a new stake in shares of Webster Financial Corp. during the second quarter valued at $16,208,000. Wellington Management Group LLP boosted its stake in shares of Webster Financial Corp. by 15.6% in the first quarter. Wellington Management Group LLP now owns 3,478,022 shares of the financial services provider’s stock valued at $124,862,000 after buying an additional 469,319 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Webster Financial Corp. during the first quarter valued at $12,300,000. Finally, Pzena Investment Management LLC boosted its stake in shares of Webster Financial Corp. by 11.1% in the second quarter. Pzena Investment Management LLC now owns 1,934,946 shares of the financial services provider’s stock valued at $65,691,000 after buying an additional 192,849 shares during the period. 94.31% of the stock is currently owned by hedge funds and other institutional investors.
Webster Financial Corp. (NYSE:WBS) opened at 37.31 on Friday. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 17.68 and a beta of 1.46. The company has a 50-day moving average of $38.11 and a 200-day moving average of $36.71. Webster Financial Corp. has a 52-week low of $30.09 and a 52-week high of $40.72.
Webster Financial Corp. (NYSE:WBS) last announced its earnings results on Wednesday, July 20th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.01. Webster Financial Corp. had a return on equity of 8.84% and a net margin of 19.44%. The company had revenue of $242 million for the quarter, compared to analyst estimates of $177.92 million. During the same period in the prior year, the company posted $0.55 EPS. Webster Financial Corp.’s quarterly revenue was up 8.5% on a year-over-year basis. Equities research analysts expect that Webster Financial Corp. will post $2.10 EPS for the current year.
WBS has been the topic of several analyst reports. Barclays PLC cut shares of Webster Financial Corp. from an “overweight” rating to an “equal weight” rating and set a $38.00 target price on the stock. in a report on Friday, August 5th. Deutsche Bank AG raised their target price on shares of Webster Financial Corp. from $39.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, September 15th. Jefferies Group reiterated a “hold” rating and issued a $36.00 price target on shares of Webster Financial Corp. in a research note on Thursday, July 7th. Zacks Investment Research upgraded shares of Webster Financial Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 27th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Webster Financial Corp. from $39.00 to $38.00 and set an “overweight” rating on the stock in a research note on Thursday, July 7th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $38.33.
In other Webster Financial Corp. news, Director John Joseph Crawford sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $36.15, for a total value of $108,450.00. Following the transaction, the director now directly owns 21,705 shares of the company’s stock, valued at approximately $784,635.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Elizabeth E. Flynn bought 2,900 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was acquired at an average cost of $35.97 per share, for a total transaction of $104,313.00. Following the completion of the transaction, the director now owns 15,681 shares in the company, valued at $564,045.57. The disclosure for this purchase can be found here. 2.59% of the stock is owned by company insiders.
Webster Financial Corp. Company Profile
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions.
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