Zurcher Kantonalbank Zurich Cantonalbank Has $2.54 Million Position in Webster Financial Co. (NYSE:WBS)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Webster Financial Co. (NYSE:WBS - Free Report) by 26.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,904 shares of the financial services provider's stock after buying an additional 9,706 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Webster Financial were worth $2,535,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in shares of Webster Financial in the fourth quarter worth about $43,000. UMB Bank n.a. increased its holdings in shares of Webster Financial by 88.1% in the fourth quarter. UMB Bank n.a. now owns 1,119 shares of the financial services provider's stock worth $62,000 after acquiring an additional 524 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Webster Financial in the third quarter worth about $53,000. First Horizon Advisors Inc. increased its holdings in shares of Webster Financial by 45.9% in the third quarter. First Horizon Advisors Inc. now owns 1,398 shares of the financial services provider's stock worth $65,000 after acquiring an additional 440 shares in the last quarter. Finally, Grove Bank & Trust bought a new stake in shares of Webster Financial in the fourth quarter worth about $105,000. Institutional investors and hedge funds own 85.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WBS. JPMorgan Chase & Co. decreased their price objective on Webster Financial from $67.00 to $65.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Barclays increased their price objective on Webster Financial from $63.00 to $69.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. StockNews.com upgraded Webster Financial from a "sell" rating to a "hold" rating in a report on Saturday, January 11th. Royal Bank of Canada increased their price objective on Webster Financial from $66.00 to $68.00 and gave the stock an "outperform" rating in a report on Tuesday, January 21st. Finally, 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 for the company. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $63.08.

Remove Ads

Webster Financial Stock Down 1.0 %

NYSE WBS traded down $0.53 during trading hours on Thursday, hitting $51.58. 1,158,760 shares of the company traded hands, compared to its average volume of 1,171,585. The business's 50-day moving average is $56.40 and its 200-day moving average is $54.18. Webster Financial Co. has a twelve month low of $39.34 and a twelve month 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. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 1.02 and a beta of 1.28.

Webster Financial (NYSE:WBS - Get Free Report) last released its quarterly earnings data on Friday, January 17th. The financial services provider reported $1.43 earnings per share (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 company had revenue of $661.00 million during the quarter, compared to analysts' expectations of $687.53 million. During the same period last year, the firm posted $1.46 earnings per share. Sell-side analysts anticipate that Webster Financial Co. will post 5.88 earnings per share for the current year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were given a $0.40 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.10%. Webster Financial's payout ratio is 36.61%.

Insider Activity

In other news, CEO John R. Ciulla sold 8,000 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was 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 directly owns 210,051 shares of the company's stock, valued at $12,063,228.93. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Laurence C. Morse sold 13,217 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $59.07, for a total value of $780,728.19. Following the completion of the sale, the director now directly owns 18,808 shares of the company's stock, valued at approximately $1,110,988.56. The trade was a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.88% of the company's stock.

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.