Webster Financial Co. (NYSE:WBS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in Webster Financial Co. (NYSE:WBS - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,794,331 shares of the financial services provider's stock after selling 80,313 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.05% of Webster Financial worth $98,347,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. M&G PLC lifted its stake in Webster Financial by 9.4% in the third quarter. M&G PLC now owns 207,297 shares of the financial services provider's stock worth $9,743,000 after acquiring an additional 17,746 shares during the period. Hennion & Walsh Asset Management Inc. bought a new position in Webster Financial in the fourth quarter worth about $269,000. Hunter Perkins Capital Management LLC bought a new position in Webster Financial in the third quarter worth about $4,761,000. Whittier Trust Co. of Nevada Inc. raised its holdings in Webster Financial by 76,570.5% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 72,837 shares of the financial services provider's stock worth $3,395,000 after purchasing an additional 72,742 shares in the last quarter. Finally, Park Avenue Securities LLC bought a new position in Webster Financial in the fourth quarter worth about $246,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Charles L. Wilkins sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $59.50, for a total transaction of $297,500.00. Following the transaction, the insider now owns 33,657 shares in the company, valued at $2,002,591.50. This trade represents a 12.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $59.33, for a total value of $474,640.00. Following the transaction, the chief executive officer now owns 218,924 shares in the company, valued at $12,988,760.92. This trade represents a 3.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,150 shares of company stock worth $903,085. Corporate insiders own 0.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WBS. UBS Group began coverage on shares of Webster Financial in a report on Tuesday, December 17th. They issued a "buy" rating and a $76.00 target price for the company. StockNews.com upgraded shares of Webster Financial from a "sell" rating to a "hold" rating in a report on Saturday, January 11th. JPMorgan Chase & Co. reduced their target price 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 boosted their target price on shares of Webster Financial from $63.00 to $69.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada upped their price objective on shares of Webster Financial from $66.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $62.08.

Webster Financial Stock Performance

NYSE WBS traded up $0.12 during trading hours on Friday, reaching $59.08. The stock had a trading volume of 480,316 shares, compared to its average volume of 1,005,957. The stock has a fifty day moving average of $57.69 and a 200 day moving average of $52.89. The stock has a market cap of $10.13 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 1.09 and a beta of 1.29. Webster Financial Co. has a 52-week low of $39.33 and a 52-week high of $63.99. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 0.84.

Webster Financial (NYSE:WBS - Get Free Report) last issued its earnings results on Friday, January 17th. The financial services provider reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.35 by $0.08. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The firm had revenue of $661.00 million for the quarter, compared to analyst estimates of $687.53 million. During the same quarter in the prior year, the firm earned $1.46 earnings per share. Sell-side analysts predict that Webster Financial Co. will post 5.85 earnings per share for the current year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 10th will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.60 annualized dividend and a yield of 2.71%. Webster Financial's dividend payout ratio is presently 36.61%.

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.