Assenagon Asset Management S.A. Purchases Shares of 475,137 Webster Financial Co. (NYSE:WBS)

Assenagon Asset Management S.A. bought a new stake in shares of Webster Financial Co. (NYSE:WBS - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 475,137 shares of the financial services provider's stock, valued at approximately $22,146,000. Assenagon Asset Management S.A. owned 0.28% of Webster Financial at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of WBS. Dimensional Fund Advisors LP increased its position in shares of 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. increased its holdings in Webster Financial by 64.9% during the 2nd 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 purchasing an additional 631,080 shares during the period. Bank of Montreal Can raised its position in Webster Financial by 1,482.9% during the 2nd quarter. Bank of Montreal Can now owns 339,246 shares of the financial services provider's stock valued at $14,801,000 after purchasing an additional 317,814 shares during the last quarter. Earnest Partners LLC lifted its holdings in Webster Financial by 11.2% in the 1st quarter. Earnest Partners LLC now owns 3,072,624 shares of the financial services provider's stock worth $155,997,000 after buying an additional 308,455 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Webster Financial by 12.9% in the 2nd quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider's stock worth $115,096,000 after buying an additional 301,935 shares during the period. 85.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on WBS shares. Royal Bank of Canada upped their target price on Webster Financial from $57.00 to $62.00 and gave the company an "outperform" rating in a report on Friday, October 18th. JPMorgan Chase & Co. decreased their price objective on shares of Webster Financial from $58.00 to $55.00 and set an "overweight" rating for the company in a report on Wednesday, October 9th. Morgan Stanley cut their target price on shares of Webster Financial from $57.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Monday, September 30th. StockNews.com downgraded shares of Webster Financial from a "hold" rating to a "sell" rating in a research note on Friday, October 18th. Finally, Jefferies Financial Group lowered their price objective on shares of Webster Financial from $56.00 to $51.00 and set a "buy" rating for the company in a report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $57.85.

Webster Financial Stock Down 1.4 %

NYSE:WBS traded down $0.72 during trading hours on Friday, reaching $51.15. 846,706 shares of the company traded hands, compared to its average volume of 1,251,176. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The business's 50-day moving average price is $46.92 and its two-hundred day moving average price is $45.44. Webster Financial Co. has a 1 year low of $36.51 and a 1 year high of $54.38. The stock has a market capitalization of $8.77 billion, a P/E ratio of 10.48, a P/E/G ratio of 0.86 and a beta of 1.28.

Webster Financial (NYSE:WBS - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.35 by ($0.01). The firm had revenue of $647.62 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $1.55 EPS. Analysts predict that Webster Financial Co. will post 5.27 earnings per share for the current year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, November 1st. Webster Financial's payout ratio is 32.79%.

Insider Activity at Webster Financial

In other news, CAO Albert Jen-Wen Wang sold 4,000 shares of the business's stock in a transaction on 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 transaction, the chief accounting officer now owns 14,273 shares in the company, valued at $748,333.39. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Daniel Bley sold 3,463 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $52.10, for a total transaction of $180,422.30. Following the transaction, the insider now owns 19,529 shares in the company, valued at $1,017,460.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $52.43, for a total transaction of $209,720.00. Following the completion of the sale, the chief accounting officer now owns 14,273 shares in the company, valued at $748,333.39. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,963 shares of company stock valued at $620,272 over the last 90 days. Corporate insiders own 0.88% of the company's stock.

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.