Bank of Montreal Can Buys 619,934 Shares of Webster Financial Co. (NYSE:WBS)

Bank of Montreal Can grew its position in Webster Financial Co. (NYSE:WBS - Free Report) by 182.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 959,180 shares of the financial services provider's stock after purchasing an additional 619,934 shares during the quarter. Bank of Montreal Can owned approximately 0.56% of Webster Financial worth $44,496,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in Webster Financial during the third quarter worth $27,000. UMB Bank n.a. increased its position in Webster Financial by 340.7% during the third quarter. UMB Bank n.a. now owns 595 shares of the financial services provider's stock worth $28,000 after acquiring an additional 460 shares during the period. Hantz Financial Services Inc. bought a new position in Webster Financial during the second quarter worth $32,000. Mather Group LLC. boosted its stake in Webster Financial by 7,650.0% during the second quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider's stock worth $54,000 after buying an additional 1,224 shares in the last quarter. Finally, NBC Securities Inc. boosted its stake in Webster Financial by 117.9% during the third quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider's stock worth $59,000 after buying an additional 686 shares in the last quarter. Institutional investors own 85.58% of the company's stock.

Webster Financial Price Performance

NYSE WBS traded down $0.27 on Friday, hitting $61.78. 489,464 shares of the company were exchanged, compared to its average volume of 1,254,636. The firm has a 50 day moving average of $52.66 and a two-hundred day moving average of $47.48. The company has a market cap of $10.59 billion, a P/E ratio of 14.07, a P/E/G ratio of 0.92 and a beta of 1.27. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. Webster Financial Co. has a 1-year low of $39.33 and a 1-year high of $63.99.

Webster Financial (NYSE:WBS - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.01). The company had revenue of $647.62 million for the quarter, compared to analyst estimates of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same quarter last year, the company earned $1.55 EPS. On average, equities analysts predict that Webster Financial Co. will post 5.24 EPS for the current year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Friday, November 1st were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.60 annualized dividend and a yield of 2.59%. Webster Financial's dividend payout ratio is currently 36.28%.

Analyst Upgrades and Downgrades

WBS has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price target on shares of Webster Financial from $50.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Friday, October 18th. JPMorgan Chase & Co. decreased their price target on shares of Webster Financial from $58.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 9th. Royal Bank of Canada lifted their price target on shares of Webster Financial from $57.00 to $62.00 and gave the stock an "outperform" rating in a research note on Friday, October 18th. Stephens set a $58.00 price target on shares of Webster Financial in a research note on Thursday, October 17th. Finally, StockNews.com downgraded shares of Webster Financial from a "hold" rating to a "sell" rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $57.85.

Insiders Place Their Bets

In other news, CAO Albert Jen-Wen Wang sold 4,000 shares of the company's stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $52.43, for a total value of $209,720.00. Following the completion of the sale, the chief accounting officer now directly owns 14,273 shares of the company's stock, valued at $748,333.39. This represents a 21.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lauren States sold 1,650 shares of the company's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $60.60, for a total value of $99,990.00. Following the completion of the sale, the director now directly owns 15,023 shares of the company's stock, valued at approximately $910,393.80. This trade represents a 9.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 36,750 shares of company stock valued at $2,074,367. 0.88% of the stock is currently owned by insiders.

About Webster Financial

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.