Creative Planning Increases Holdings in Webster Financial Co. (NYSE:WBS)

Creative Planning increased its stake in shares of Webster Financial Co. (NYSE:WBS) by 7.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,943 shares of the financial services provider’s stock after buying an additional 2,815 shares during the quarter. Creative Planning’s holdings in Webster Financial were worth $1,862,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WBS. Vanguard Group Inc. raised its position in Webster Financial by 0.3% in the first quarter. Vanguard Group Inc. now owns 17,926,270 shares of the financial services provider’s stock valued at $910,117,000 after purchasing an additional 54,841 shares during the period. Price T Rowe Associates Inc. MD raised its position in Webster Financial by 1.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,237,482 shares of the financial services provider’s stock valued at $316,678,000 after purchasing an additional 95,780 shares during the period. Dimensional Fund Advisors LP raised its position in Webster Financial by 28.0% in the second quarter. Dimensional Fund Advisors LP now owns 5,522,044 shares of the financial services provider’s stock valued at $240,687,000 after purchasing an additional 1,206,575 shares during the period. Earnest Partners LLC raised its position in Webster Financial by 0.4% in the second quarter. Earnest Partners LLC now owns 3,086,111 shares of the financial services provider’s stock valued at $134,524,000 after purchasing an additional 13,487 shares during the period. Finally, American Century Companies Inc. raised its position in Webster Financial by 12.9% in the second quarter. American Century Companies Inc. now owns 2,640,425 shares of the financial services provider’s stock valued at $115,096,000 after purchasing an additional 301,935 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Insider Transactions at Webster Financial

In other news, insider Daniel Bley sold 3,463 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $52.10, for a total transaction of $180,422.30. Following the completion of the transaction, the insider now directly owns 19,529 shares of the company’s stock, valued at approximately $1,017,460.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Daniel Bley sold 3,463 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $52.10, for a total value of $180,422.30. Following the completion of the sale, the insider now directly owns 19,529 shares of the company’s stock, valued at approximately $1,017,460.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Albert Jen-Wen Wang sold 4,000 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $52.43, for a total value of $209,720.00. Following the completion of the sale, the chief accounting officer now directly owns 14,273 shares of the company’s stock, valued at $748,333.39. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,963 shares of company stock valued at $620,272. 0.72% of the stock is currently owned by corporate insiders.

Webster Financial Trading Up 2.1 %

WBS opened at $52.20 on Tuesday. Webster Financial Co. has a 12 month low of $36.69 and a 12 month high of $54.38. The stock has a market capitalization of $8.95 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 0.85 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86. The business has a fifty day moving average price of $47.04 and a 200 day moving average price of $45.47.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.01). The business had revenue of $647.62 million for the quarter, compared to analyst estimates of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same period in the prior year, the company posted $1.55 earnings per share. Sell-side analysts expect that Webster Financial Co. will post 5.27 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 1st. This represents a $1.60 annualized dividend and a dividend yield of 3.07%. Webster Financial’s dividend payout ratio is currently 36.28%.

Analyst Ratings Changes

WBS has been the topic of a number of research analyst reports. Stephens set a $58.00 target price on Webster Financial in a research report on Thursday, October 17th. Jefferies Financial Group dropped their price objective on Webster Financial from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods dropped their price objective on Webster Financial from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, July 9th. Wells Fargo & Company lifted their price objective on Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada lifted their price objective on Webster Financial from $57.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.85.

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.