Fisher Asset Management LLC Buys 134,281 Shares of Webster Financial Co. (NYSE:WBS)

Fisher Asset Management LLC increased its stake in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 19.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 816,179 shares of the financial services provider's stock after buying an additional 134,281 shares during the quarter. Fisher Asset Management LLC owned 0.48% of Webster Financial worth $45,069,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. M&G PLC grew its stake in Webster Financial by 9.4% during the third quarter. M&G PLC now owns 207,297 shares of the financial services provider's stock worth $9,743,000 after buying an additional 17,746 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in Webster Financial during the 4th quarter worth approximately $269,000. Park Avenue Securities LLC acquired a new position in Webster Financial in the fourth quarter worth $246,000. HighTower Advisors LLC grew its holdings in shares of Webster Financial by 6.8% during the third quarter. HighTower Advisors LLC now owns 31,978 shares of the financial services provider's stock worth $1,488,000 after purchasing an additional 2,032 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Webster Financial by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,468,942 shares of the financial services provider's stock valued at $68,467,000 after buying an additional 34,373 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company's stock.

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Insiders Place Their Bets

In related news, CEO John R. Ciulla sold 8,000 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.43, for a total value of $459,440.00. Following the completion of the sale, the chief executive officer now owns 210,051 shares in the company, valued at $12,063,228.93. This represents a 3.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Laurence C. Morse sold 13,217 shares of Webster Financial stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total value of $780,728.19. Following the transaction, the director now owns 18,808 shares in the company, valued at approximately $1,110,988.56. This represents a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

Webster Financial Trading Down 2.9 %

Shares of Webster Financial stock traded down $1.52 on Thursday, hitting $51.63. 703,701 shares of the company's stock traded hands, compared to its average volume of 971,768. The firm's 50-day moving average price is $57.47 and its two-hundred day moving average price is $53.92. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $8.85 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.02 and a beta of 1.28. Webster Financial Co. has a one year low of $39.33 and a one year high of $63.99.

Webster Financial (NYSE:WBS - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $661.00 million during the quarter, compared to the consensus estimate of $687.53 million. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. During the same quarter in the prior year, the company posted $1.46 earnings per share. On average, research analysts expect that Webster Financial Co. will post 5.88 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Monday, February 10th. Webster Financial's payout ratio is presently 36.61%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wells Fargo & Company upgraded shares of Webster Financial from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $70.00 to $75.00 in a research report on Monday, January 6th. Barclays upped their target price on shares of Webster Financial from $63.00 to $69.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. lowered their price target 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. UBS Group began coverage on Webster Financial in a report on Tuesday, December 17th. They set a "buy" rating and a $76.00 price objective on the stock. Finally, Royal Bank of Canada increased their price objective on Webster Financial from $66.00 to $68.00 and gave the company an "outperform" rating in a research 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $62.08.

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.