Bank of Montreal Can Raises Holdings in Webster Financial Co. (NYSE:WBS)

Bank of Montreal Can raised its holdings in shares of Webster Financial Co. (NYSE:WBS) by 182.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 959,180 shares of the financial services provider’s stock after purchasing an additional 619,934 shares during the period. Bank of Montreal Can’s holdings in Webster Financial were worth $44,496,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $59.50, for a total transaction of $297,500.00. Following the sale, the insider now directly owns 33,657 shares in the company, valued at $2,002,591.50. This represents a 12.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John R. Ciulla sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $59.33, for a total value of $474,640.00. Following the sale, the chief executive officer now owns 218,924 shares in the company, valued at approximately $12,988,760.92. This trade represents a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,750 shares of company stock worth $2,074,367. Corporate insiders own 0.88% of the company’s stock.

Webster Financial Price Performance

Shares of Webster Financial stock opened at $62.05 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $10.64 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 0.92 and a beta of 1.27. Webster Financial Co. has a 52 week low of $39.33 and a 52 week high of $63.99. The stock’s 50-day simple moving average is $52.38 and its 200-day simple moving average is $47.37.

Webster Financial (NYSE:WBS) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). The firm had revenue of $647.62 million during the quarter, compared to analysts’ expectations of $677.72 million. Webster Financial had a return on equity of 11.03% and a net margin of 18.80%. During the same quarter in the prior year, the firm posted $1.55 earnings per share. As a group, analysts expect that Webster Financial Co. will post 5.24 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, November 1st were given a $0.40 dividend. The ex-dividend date was Friday, November 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.58%. Webster Financial’s dividend payout ratio is currently 36.28%.

Analyst Ratings Changes

A number of research firms have recently issued reports on WBS. Barclays raised their price target on Webster Financial from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Wedbush boosted their price target on Webster Financial from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Stephens set a $58.00 price target on Webster Financial in a report on Thursday, October 17th. JPMorgan Chase & Co. cut their price target on Webster Financial from $58.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Finally, Wells Fargo & Company boosted their price target on Webster Financial from $50.00 to $60.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Webster Financial has an average rating of “Moderate Buy” and an average 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.