National Bank of Canada FI Buys New Stake in Webster Financial Co. (NYSE:WBS)

National Bank of Canada FI Buys New Stake in Webster Financial Co. (NYSE:WBS)

Updated: 1 month, 11 hours, 19 minutes, 54 seconds ago

National Bank of Canada FI bought a new stake in Webster Financial Co. (NYSE:WBS – Get Rating) in the second quarter, HoldingsChannel.com reports. The fund bought 629 shares of the financial services provider’s stock, valued at approximately $27,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Webster Financial by 88.3% in the first quarter. Vanguard Group Inc. now owns 17,401,872 shares of the financial services provider’s stock valued at $976,594,000 after purchasing an additional 8,161,424 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Webster Financial by 114.0% in the first quarter. BlackRock Inc. now owns 17,387,613 shares of the financial services provider’s stock valued at $975,793,000 after purchasing an additional 9,264,404 shares in the last quarter. Capital International Investors grew its holdings in shares of Webster Financial by 18.2% in the first quarter. Capital International Investors now owns 9,297,676 shares of the financial services provider’s stock valued at $521,886,000 after purchasing an additional 1,433,204 shares in the last quarter. State Street Corp boosted its stake in Webster Financial by 68.8% during the first quarter. State Street Corp now owns 7,511,290 shares of the financial services provider’s stock worth $421,534,000 after buying an additional 3,061,831 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Webster Financial by 325.0% during the first quarter. Dimensional Fund Advisors LP now owns 6,150,452 shares of the financial services provider’s stock worth $345,177,000 after buying an additional 4,703,278 shares during the period. 85.98% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Webster Financial

In other Webster Financial news, COO Luis Massiani sold 20,000 shares of Webster Financial stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $47.35, for a total value of $947,000.00. Following the transaction, the chief operating officer now owns 132,910 shares in the company, valued at $6,293,288.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.85% of the stock is owned by insiders.

Webster Financial Stock Performance

WBS stock opened at $52.79 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.87. The business has a 50-day moving average price of $47.58 and a 200 day moving average price of $47.09. The company has a market capitalization of $9.28 billion, a P/E ratio of 15.66 and a beta of 1.20. Webster Financial Co. has a 1-year low of $40.72 and a 1-year high of $65.00.

Webster Financial (NYSE:WBS – Get Rating) last released its quarterly earnings data on Thursday, October 20th. The financial services provider reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.06. The firm had revenue of $664.60 million during the quarter, compared to the consensus estimate of $640.62 million. Webster Financial had a return on equity of 12.09% and a net margin of 23.15%. The firm’s quarterly revenue was up 112.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 earnings per share. As a group, equities research analysts forecast that Webster Financial Co. will post 5.64 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on WBS shares. Jefferies Financial Group dropped their price objective on shares of Webster Financial from $62.00 to $55.00 in a research note on Monday, July 11th. Piper Sandler dropped their price objective on shares of Webster Financial to $55.00 in a research note on Wednesday, October 5th. StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a research note on Thursday, October 13th. Compass Point decreased their target price on Webster Financial to $77.00 in a research report on Friday, July 22nd. Finally, TheStreet upgraded Webster Financial from a “c+” rating to a “b-” rating in a research report on Tuesday, September 27th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Webster Financial has an average rating of “Moderate Buy” and an average target price of $57.86.

Webster Financial Company Profile

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Webster Financial Corp. is a holding company, which engages in the provision of financial services to individuals, families, and businesses. It operates through the following business segments: Commercial Banking, HSA Bank, and Retail Banking. The Commercial Banking segment includes commercial banking and private banking.

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Want to see what other hedge funds are holding WBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Webster Financial Co. (NYSE:WBS – Get Rating).

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