Norges Bank Purchases New Position in Webster Financial Co. (NYSE:WBS)

Norges Bank bought a new position in Webster Financial Co. (NYSE:WBS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,182,122 shares of the financial services provider's stock, valued at approximately $120,497,000. Norges Bank owned 1.27% of Webster Financial at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of WBS. HighTower Advisors LLC boosted its position in Webster Financial by 0.6% in the 4th quarter. HighTower Advisors LLC now owns 32,155 shares of the financial services provider's stock valued at $1,776,000 after buying an additional 177 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in Webster Financial by 0.9% in the fourth quarter. Sanctuary Advisors LLC now owns 19,336 shares of the financial services provider's stock valued at $1,163,000 after purchasing an additional 178 shares during the last quarter. Cardinal Capital Management grew its stake in Webster Financial by 0.4% during the 4th quarter. Cardinal Capital Management now owns 49,983 shares of the financial services provider's stock valued at $2,760,000 after purchasing an additional 189 shares in the last quarter. US Bancorp DE increased its holdings in Webster Financial by 2.8% during the 4th quarter. US Bancorp DE now owns 7,143 shares of the financial services provider's stock worth $394,000 after purchasing an additional 192 shares during the last quarter. Finally, Penbrook Management LLC boosted its stake in shares of Webster Financial by 4.3% during the 4th quarter. Penbrook Management LLC now owns 4,830 shares of the financial services provider's stock valued at $267,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company's stock.

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Analyst Ratings Changes

Several research analysts have weighed in on WBS shares. JPMorgan Chase & Co. decreased their price objective on shares of Webster Financial from $67.00 to $65.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Barclays upped their price objective on Webster Financial from $63.00 to $69.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Wells Fargo & Company upgraded Webster Financial from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $70.00 to $75.00 in a research report on Monday, January 6th. Raymond James decreased their price objective on shares of Webster Financial from $65.00 to $58.00 and set an "outperform" rating for the company in a report on Wednesday. Finally, Royal Bank of Canada increased their target price on shares of Webster Financial from $66.00 to $68.00 and gave the stock an "outperform" rating in a report on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Webster Financial currently has an average rating of "Moderate Buy" and a consensus price target of $62.92.

Insider Buying and Selling

In related news, CEO John R. Ciulla sold 8,000 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.43, for a total value of $459,440.00. Following the completion of the transaction, the chief executive officer now directly owns 210,051 shares in the company, valued at approximately $12,063,228.93. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Laurence C. Morse sold 13,217 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $59.07, for a total transaction of $780,728.19. Following the completion of the sale, the director now directly owns 18,808 shares in the company, valued at $1,110,988.56. This trade represents a 41.27 % decrease in their position. The disclosure for this sale can be found here. 0.88% of the stock is owned by insiders.

Webster Financial Trading Down 14.6 %

Shares of Webster Financial stock traded down $7.51 during trading on Thursday, hitting $43.99. The stock had a trading volume of 3,014,384 shares, compared to its average volume of 1,239,258. The stock has a 50 day simple moving average of $55.25 and a 200 day simple moving average of $54.66. The company has a market capitalization of $7.54 billion, a PE ratio of 10.07, a P/E/G ratio of 1.02 and a beta of 1.28. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.34. Webster Financial Co. has a 1 year low of $39.34 and a 1 year high of $63.99.

Webster Financial (NYSE:WBS - Get Free Report) last issued its earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.35 by $0.08. The company had revenue of $661.00 million during the quarter, compared to analyst estimates of $687.53 million. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. During the same quarter last year, the business posted $1.46 EPS. On average, research analysts expect that Webster Financial Co. will post 5.88 EPS for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Monday, February 10th. Webster Financial's dividend payout ratio is currently 36.61%.

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.