Geode Capital Management LLC Has $138.47 Million Holdings in Webster Financial Co. (NYSE:WBS)

Geode Capital Management LLC boosted its position in Webster Financial Co. (NYSE:WBS - Free Report) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,969,928 shares of the financial services provider's stock after buying an additional 54,613 shares during the quarter. Geode Capital Management LLC owned approximately 1.73% of Webster Financial worth $138,465,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in Webster Financial by 28.0% in the second quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider's stock valued at $240,687,000 after acquiring an additional 1,206,575 shares during the period. Point72 Asset Management L.P. boosted its stake in Webster Financial by 64.9% in the second quarter. Point72 Asset Management L.P. now owns 1,604,198 shares of the financial services provider's stock valued at $69,927,000 after acquiring an additional 631,080 shares during the period. Bank of Montreal Can boosted its stake in Webster Financial by 182.7% in the third quarter. Bank of Montreal Can now owns 959,180 shares of the financial services provider's stock valued at $44,496,000 after acquiring an additional 619,934 shares during the period. Assenagon Asset Management S.A. acquired a new position in Webster Financial in the third quarter valued at approximately $22,146,000. Finally, State Street Corp boosted its stake in Webster Financial by 4.8% in the third quarter. State Street Corp now owns 7,320,930 shares of the financial services provider's stock valued at $341,229,000 after acquiring an additional 333,606 shares during the period. 85.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on WBS. UBS Group began coverage on Webster Financial in a research report on Tuesday. They set a "buy" rating and a $76.00 price objective for the company. Royal Bank of Canada boosted their price objective on Webster Financial from $57.00 to $62.00 and gave the stock an "outperform" rating in a research report on Friday, October 18th. Barclays boosted their price objective on 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. reduced their price objective on Webster Financial from $58.00 to $55.00 and set an "overweight" rating for the company in a research report on Wednesday, October 9th. Finally, Wedbush boosted their price objective on Webster Financial from $52.00 to $59.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $60.31.

Insider Transactions at Webster Financial

In other news, Director Mark Pettie sold 4,500 shares of the business's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $51.14, for a total transaction of $230,130.00. Following the sale, the director now directly owns 32,780 shares of the company's stock, valued at $1,676,369.20. The trade was a 12.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Bley sold 3,463 shares of the business's stock in a transaction on Monday, October 21st. The stock was sold at an average price of $52.10, for a total value of $180,422.30. Following the sale, the insider now directly owns 19,529 shares in the company, valued at $1,017,460.90. This trade represents a 15.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,250 shares of company stock valued at $2,105,322 over the last three months. Company insiders own 0.88% of the company's stock.

Webster Financial Price Performance

Shares of Webster Financial stock traded down $1.30 during trading on Tuesday, hitting $57.71. The stock had a trading volume of 1,099,660 shares, compared to its average volume of 1,232,165. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $9.89 billion, a P/E ratio of 13.09, a PEG ratio of 0.87 and a beta of 1.29. The business has a fifty day moving average of $56.26 and a two-hundred day moving average of $48.85. Webster Financial Co. has a fifty-two week low of $39.33 and a fifty-two week high of $63.99.

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

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Friday, November 1st. Webster Financial's dividend payout ratio (DPR) is presently 36.28%.

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.