People s United Financial Inc. increased its stake in Webster Financial Co. (NYSE:WBS) by 26.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 54,640 shares of the financial services provider’s stock after purchasing an additional 11,298 shares during the quarter. People s United Financial Inc.’s holdings in Webster Financial were worth $3,222,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN boosted its stake in Webster Financial by 46.1% during the second quarter. Wells Fargo & Company MN now owns 1,396,777 shares of the financial services provider’s stock valued at $88,975,000 after buying an additional 440,873 shares during the period. Frontier Capital Management Co. LLC boosted its stake in Webster Financial by 14.1% during the third quarter. Frontier Capital Management Co. LLC now owns 2,162,598 shares of the financial services provider’s stock valued at $127,507,000 after buying an additional 267,332 shares during the period. Millennium Management LLC boosted its stake in Webster Financial by 121.8% during the second quarter. Millennium Management LLC now owns 402,488 shares of the financial services provider’s stock valued at $25,638,000 after buying an additional 221,008 shares during the period. Putnam Investments LLC boosted its stake in Webster Financial by 17.4% during the second quarter. Putnam Investments LLC now owns 1,116,161 shares of the financial services provider’s stock valued at $71,099,000 after buying an additional 165,678 shares during the period. Finally, Bank of America Corp DE boosted its stake in Webster Financial by 42.8% during the second quarter. Bank of America Corp DE now owns 437,654 shares of the financial services provider’s stock valued at $27,878,000 after buying an additional 131,197 shares during the period. Institutional investors own 89.08% of the company’s stock.

In other news, Director John Joseph Crawford sold 2,000 shares of the business’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $60.03, for a total value of $120,060.00. Following the completion of the sale, the director now owns 8,792 shares of the company’s stock, valued at approximately $527,783.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.

Shares of WBS stock opened at $55.74 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.82 and a quick ratio of 0.82. Webster Financial Co. has a 12-month low of $51.69 and a 12-month high of $69.63. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 1.90 and a beta of 1.03.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Thursday, October 18th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.12. Webster Financial had a return on equity of 12.36% and a net margin of 25.77%. The firm had revenue of $302.66 million during the quarter, compared to analyst estimates of $299.30 million. During the same quarter in the previous year, the company posted $0.67 earnings per share. Equities research analysts anticipate that Webster Financial Co. will post 3.71 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Monday, November 5th. Webster Financial’s dividend payout ratio (DPR) is presently 50.97%.

Several research firms recently issued reports on WBS. Zacks Investment Research raised Webster Financial from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research note on Wednesday, October 24th. ValuEngine lowered Webster Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, September 12th. Boenning Scattergood reissued a “hold” rating on shares of Webster Financial in a research note on Friday, October 19th. Barclays lifted their price objective on Webster Financial from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, October 19th. Finally, Morgan Stanley reissued a “sell” rating and set a $60.00 price objective (down previously from $62.00) on shares of Webster Financial in a research note on Tuesday, September 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Webster Financial has an average rating of “Hold” and an average price target of $62.50.

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About Webster Financial

Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides financial services to individuals, families, and businesses in the United States. It operates through four segments: Commercial Banking, Community Banking, HSA Bank, and Private Banking.

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Institutional Ownership by Quarter for Webster Financial (NYSE:WBS)

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