Citigroup Inc. Acquires 8,256 Shares of Webster Financial Corporation (WBS)

Citigroup Inc. raised its holdings in Webster Financial Corporation (NYSE:WBS) by 182.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,792 shares of the financial services provider’s stock after purchasing an additional 8,256 shares during the period. Citigroup Inc.’s holdings in Webster Financial Corporation were worth $668,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. World Asset Management Inc lifted its holdings in shares of Webster Financial Corporation by 2.2% during the 2nd quarter. World Asset Management Inc now owns 5,827 shares of the financial services provider’s stock worth $304,000 after acquiring an additional 126 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Webster Financial Corporation by 2.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 7,391 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 181 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Webster Financial Corporation by 4.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,048 shares of the financial services provider’s stock worth $263,000 after acquiring an additional 195 shares during the period. Bank of Montreal Can lifted its holdings in shares of Webster Financial Corporation by 3.4% during the 2nd quarter. Bank of Montreal Can now owns 6,047 shares of the financial services provider’s stock worth $315,000 after acquiring an additional 200 shares during the period. Finally, Hartford Financial Management Inc. lifted its holdings in shares of Webster Financial Corporation by 0.6% during the 2nd quarter. Hartford Financial Management Inc. now owns 38,340 shares of the financial services provider’s stock worth $2,002,000 after acquiring an additional 220 shares during the period. 93.67% of the stock is owned by hedge funds and other institutional investors.

Shares of Webster Financial Corporation (NYSE WBS) opened at 53.27 on Wednesday. The company has a market cap of $4.90 billion, a P/E ratio of 22.20 and a beta of 1.26. The stock’s 50 day moving average is $49.12 and its 200-day moving average is $50.34. Webster Financial Corporation has a one year low of $36.96 and a one year high of $57.50.

Webster Financial Corporation (NYSE:WBS) last issued its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.60 by $0.04. The company had revenue of $262.50 million during the quarter, compared to analysts’ expectations of $260.91 million. Webster Financial Corporation had a net margin of 20.43% and a return on equity of 9.49%. During the same quarter in the previous year, the company earned $0.53 earnings per share. Equities research analysts forecast that Webster Financial Corporation will post $2.55 earnings per share for the current year.

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A number of analysts have recently weighed in on WBS shares. Zacks Investment Research raised shares of Webster Financial Corporation from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Saturday, July 8th. ValuEngine raised shares of Webster Financial Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Jefferies Group LLC reaffirmed a “hold” rating and set a $53.00 price target on shares of Webster Financial Corporation in a report on Friday, July 14th. BidaskClub downgraded shares of Webster Financial Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, Wedbush reaffirmed an “outperform” rating and set a $60.00 price target on shares of Webster Financial Corporation in a report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $53.00.

In related news, EVP Daniel Bley sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $51.20, for a total transaction of $409,600.00. Following the completion of the transaction, the executive vice president now owns 25,657 shares of the company’s stock, valued at $1,313,638.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Nitin J. Mhatre sold 31,940 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $51.34, for a total transaction of $1,639,799.60. Following the transaction, the executive vice president now directly owns 23,120 shares of the company’s stock, valued at approximately $1,186,980.80. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.

Webster Financial Corporation Company Profile

Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.

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

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