M&T Bank Corp Acquires 383 Shares of Webster Financial Co. (NYSE:WBS)

M&T Bank Corp grew its stake in shares of Webster Financial Co. (NYSE:WBS) by 6.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,155 shares of the financial services provider’s stock after buying an additional 383 shares during the quarter. M&T Bank Corp’s holdings in Webster Financial were worth $287,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Fifth Third Bancorp grew its position in Webster Financial by 1.0% during the 2nd quarter. Fifth Third Bancorp now owns 44,069 shares of the financial services provider’s stock worth $1,921,000 after acquiring an additional 447 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new position in shares of Webster Financial in the second quarter worth approximately $285,000. New York State Teachers Retirement System increased its stake in shares of Webster Financial by 2.3% in the second quarter. New York State Teachers Retirement System now owns 269,207 shares of the financial services provider’s stock worth $11,735,000 after buying an additional 6,091 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Webster Financial by 6.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,682,750 shares of the financial services provider’s stock valued at $73,351,000 after buying an additional 98,571 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. purchased a new stake in Webster Financial during the 2nd quarter valued at $654,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Insider Activity

In other Webster Financial news, insider Daniel Bley sold 500 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $61.91, for a total transaction of $30,955.00. Following the sale, the insider now directly owns 17,279 shares in the company, valued at approximately $1,069,742.89. This trade represents a 2.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 of the company’s stock, valued at $748,333.39. This represents a 21.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,250 shares of company stock worth $2,105,322 over the last three months. 0.88% of the stock is currently owned by corporate insiders.

Webster Financial Stock Down 5.5 %

Shares of Webster Financial stock opened at $54.54 on Thursday. Webster Financial Co. has a 1 year low of $39.33 and a 1 year high of $63.99. The firm has a market cap of $9.35 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 0.87 and a beta of 1.29. The company has a 50-day moving average of $56.44 and a 200 day moving average of $48.89. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86.

Webster Financial (NYSE:WBS) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). Webster Financial had a net margin of 18.80% and a return on equity of 11.03%. The business had revenue of $647.62 million for the quarter, compared to the consensus estimate of $677.72 million. During the same period in the prior year, the business posted $1.55 EPS. As a group, sell-side analysts anticipate that Webster Financial Co. will post 5.24 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were paid a $0.40 dividend. The ex-dividend date was Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.93%. Webster Financial’s dividend payout ratio is currently 36.28%.

Analyst Ratings Changes

A number of research firms have issued reports on WBS. JPMorgan Chase & Co. decreased their price objective on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley lowered their price target on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, September 30th. StockNews.com upgraded Webster Financial from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Wedbush upped their target price on Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, UBS Group started coverage on Webster Financial in a research note on Tuesday. They issued a “buy” rating and a $76.00 price target for the company. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.31.

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.