Webster Financial Co. (NYSE:WBS) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. raised its holdings in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 16.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 566,627 shares of the financial services provider's stock after purchasing an additional 80,459 shares during the quarter. Federated Hermes Inc. owned 0.33% of Webster Financial worth $28,762,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in WBS. Neo Ivy Capital Management purchased a new stake in shares of Webster Financial during the 2nd quarter valued at about $32,000. NBC Securities Inc. bought a new stake in shares of Webster Financial in the 3rd quarter valued at approximately $32,000. Bruce G. Allen Investments LLC purchased a new position in shares of Webster Financial in the 4th quarter worth approximately $42,000. Lazard Asset Management LLC increased its position in shares of Webster Financial by 9,388.9% during the 2nd quarter. Lazard Asset Management LLC now owns 854 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 845 shares during the last quarter. Finally, Geneos Wealth Management Inc. purchased a new stake in Webster Financial during the 3rd quarter valued at $36,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Daniel Bley sold 2,000 shares of Webster Financial stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $47.60, for a total value of $95,200.00. Following the transaction, the insider now directly owns 27,955 shares in the company, valued at approximately $1,330,658. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Charles L. Wilkins sold 3,966 shares of Webster Financial stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $51.56, for a total value of $204,486.96. Following the transaction, the insider now owns 49,528 shares of the company's stock, valued at approximately $2,553,663.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Daniel Bley sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $47.60, for a total transaction of $95,200.00. Following the sale, the insider now directly owns 27,955 shares of the company's stock, valued at approximately $1,330,658. The disclosure for this sale can be found here. Insiders sold a total of 29,941 shares of company stock worth $1,545,582 over the last 90 days. Company insiders own 0.88% of the company's stock.

Webster Financial Stock Up 2.5 %

Shares of WBS stock traded up $1.12 on Friday, hitting $46.39. The stock had a trading volume of 1,208,513 shares, compared to its average volume of 963,760. Webster Financial Co. has a one year low of $31.03 and a one year high of $53.39. The business has a 50 day moving average price of $48.00 and a 200 day moving average price of $46.40. The company has a market cap of $7.97 billion, a PE ratio of 9.49, a P/E/G ratio of 0.37 and a beta of 1.33. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.41.

Webster Financial (NYSE:WBS - Get Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $1.46 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.02). Webster Financial had a net margin of 22.01% and a return on equity of 13.05%. The business had revenue of $996.96 million during the quarter, compared to the consensus estimate of $674.82 million. During the same quarter in the prior year, the firm posted $1.60 EPS. Research analysts anticipate that Webster Financial Co. will post 5.86 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Monday, February 5th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend was Friday, February 2nd. Webster Financial's dividend payout ratio (DPR) is 32.72%.

Wall Street Analysts Forecast Growth

WBS has been the subject of several recent analyst reports. Citigroup cut their price objective on shares of Webster Financial from $61.00 to $60.00 and set a "buy" rating on the stock in a research report on Thursday, January 25th. StockNews.com lowered shares of Webster Financial from a "hold" rating to a "sell" rating in a research report on Tuesday, April 16th. Morgan Stanley boosted their target price on Webster Financial from $51.00 to $61.00 and gave the company an "overweight" rating in a research report on Wednesday, February 7th. Barclays started coverage on Webster Financial in a report on Friday, March 8th. They issued an "overweight" rating and a $70.00 price target on the stock. Finally, JPMorgan Chase & Co. raised Webster Financial from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $60.00 to $65.00 in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.85.

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.