M&T Bank Corp Has $2.42 Million Stock Holdings in Webster Financial Corporation $WBS
by Teresa Graham · The Cerbat GemM&T Bank Corp raised its stake in Webster Financial Corporation (NYSE:WBS – Free Report) by 550.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,295 shares of the financial services provider’s stock after purchasing an additional 37,488 shares during the quarter. M&T Bank Corp’s holdings in Webster Financial were worth $2,418,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in WBS. BCGM Wealth Management LLC increased its holdings in Webster Financial by 1.2% during the second quarter. BCGM Wealth Management LLC now owns 16,161 shares of the financial services provider’s stock worth $882,000 after buying an additional 186 shares during the last quarter. Perigon Wealth Management LLC grew its position in shares of Webster Financial by 4.5% in the 2nd quarter. Perigon Wealth Management LLC now owns 4,348 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 189 shares during the period. Journey Strategic Wealth LLC increased its stake in shares of Webster Financial by 3.2% during the 2nd quarter. Journey Strategic Wealth LLC now owns 6,747 shares of the financial services provider’s stock worth $368,000 after purchasing an additional 210 shares during the last quarter. PenderFund Capital Management Ltd. raised its holdings in shares of Webster Financial by 4.0% in the 1st quarter. PenderFund Capital Management Ltd. now owns 5,578 shares of the financial services provider’s stock valued at $288,000 after purchasing an additional 215 shares during the period. Finally, F m Investments LLC raised its holdings in shares of Webster Financial by 2.8% in the 2nd quarter. F m Investments LLC now owns 8,243 shares of the financial services provider’s stock valued at $450,000 after purchasing an additional 222 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.
Insider Activity at Webster Financial
In other Webster Financial news, CAO Elzbieta Cieslik sold 2,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $61.58, for a total value of $123,160.00. Following the transaction, the chief accounting officer owned 14,894 shares in the company, valued at approximately $917,172.52. This represents a 11.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction on Monday, November 17th. The shares were sold at an average price of $55.45, for a total transaction of $443,600.00. Following the completion of the sale, the chief executive officer directly owned 231,872 shares of the company’s stock, valued at approximately $12,857,302.40. The trade was a 3.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 11,000 shares of company stock worth $628,380. Insiders own 0.54% of the company’s stock.
Analysts Set New Price Targets
Several research firms have issued reports on WBS. JPMorgan Chase & Co. dropped their price objective on Webster Financial from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. TD Cowen began coverage on Webster Financial in a research note on Thursday, September 25th. They issued a “buy” rating and a $78.00 price target on the stock. Barclays raised their price target on Webster Financial from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. Cantor Fitzgerald assumed coverage on shares of Webster Financial in a report on Wednesday, September 10th. They issued an “overweight” rating and a $70.00 price objective on the stock. Finally, Wells Fargo & Company dropped their price objective on shares of Webster Financial from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.85.
View Our Latest Analysis on WBS
Webster Financial Trading Up 0.7%
Shares of WBS stock opened at $62.47 on Friday. Webster Financial Corporation has a fifty-two week low of $39.43 and a fifty-two week high of $63.59. The stock’s fifty day moving average price is $57.82 and its two-hundred day moving average price is $57.51. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $10.08 billion, a PE ratio of 11.63, a P/E/G ratio of 0.54 and a beta of 1.07.
Webster Financial (NYSE:WBS – Get Free Report) last issued its quarterly earnings data on Friday, October 17th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.02. Webster Financial had a return on equity of 11.07% and a net margin of 21.32%.The business had revenue of $756.06 million for the quarter, compared to analyst estimates of $725.22 million. During the same quarter in the previous year, the company posted $1.34 EPS. Equities analysts predict that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.
Webster Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, November 10th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.60 annualized dividend and a yield of 2.6%. Webster Financial’s dividend payout ratio (DPR) is currently 29.80%.
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.
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