Allspring Global Investments Holdings LLC Raises Position in Webster Financial Co. (NYSE:WBS)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Webster Financial Co. (NYSE:WBS) by 11.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,874,644 shares of the financial services provider’s stock after buying an additional 191,894 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Webster Financial were worth $87,377,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in Webster Financial during the third quarter valued at approximately $27,000. UMB Bank n.a. raised its holdings in shares of Webster Financial by 340.7% during the 3rd quarter. UMB Bank n.a. now owns 595 shares of the financial services provider’s stock valued at $28,000 after buying an additional 460 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in shares of Webster Financial in the 2nd quarter worth approximately $32,000. Mather Group LLC. grew its holdings in shares of Webster Financial by 7,650.0% during the 2nd quarter. Mather Group LLC. now owns 1,240 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 1,224 shares during the last quarter. Finally, NBC Securities Inc. grew its holdings in shares of Webster Financial by 117.9% during the 3rd quarter. NBC Securities Inc. now owns 1,268 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 686 shares during the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Webster Financial Trading Down 2.5 %

NYSE:WBS opened at $52.91 on Monday. The company has a 50-day moving average price of $46.21 and a 200-day moving average price of $45.33. The stock has a market cap of $9.07 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 0.88 and a beta of 1.28. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. Webster Financial Co. has a 12 month low of $36.36 and a 12 month high of $54.38.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.01). Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. The company had revenue of $647.62 million during the quarter, compared to analysts’ expectations of $677.72 million. During the same quarter last year, the business earned $1.55 earnings per share. Equities analysts predict that Webster Financial Co. will post 5.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley reduced their price target on Webster Financial from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. StockNews.com downgraded Webster Financial from a “hold” rating to a “sell” rating in a research report on Friday. Wedbush raised their target price on shares of Webster Financial from $52.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, July 9th. 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.85.

Insider Activity at Webster Financial

In other Webster Financial news, insider Jason A. Soto sold 1,650 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $46.32, for a total value of $76,428.00. Following the completion of the transaction, the insider now owns 20,539 shares in the company, valued at approximately $951,366.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jason A. Soto sold 1,650 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $46.32, for a total transaction of $76,428.00. Following the sale, the insider now owns 20,539 shares of the company’s stock, valued at $951,366.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Charles L. Wilkins sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $49.07, for a total transaction of $245,350.00. Following the transaction, the insider now directly owns 45,157 shares of the company’s stock, valued at $2,215,853.99. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by corporate insiders.

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.