The Manufacturers Life Insurance Company boosted its stake in shares of Webster Financial Co. (NYSE:WBS – Get Rating) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 623,833 shares of the financial services provider’s stock after purchasing an additional 21,497 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.35% of Webster Financial worth $28,197,000 at the end of the most recent reporting period.

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Several other large investors also recently bought and sold shares of WBS. US Bancorp DE grew its holdings in shares of Webster Financial by 217.7% during the first quarter. US Bancorp DE now owns 6,646 shares of the financial services provider’s stock valued at $372,000 after buying an additional 4,554 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Webster Financial during the 1st quarter valued at about $480,000. Cetera Advisor Networks LLC acquired a new position in shares of Webster Financial in the first quarter valued at about $410,000. Private Advisor Group LLC raised its stake in shares of Webster Financial by 78.6% in the first quarter. Private Advisor Group LLC now owns 11,359 shares of the financial services provider’s stock worth $637,000 after purchasing an additional 4,999 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Webster Financial by 78.5% during the first quarter. PNC Financial Services Group Inc. now owns 18,398 shares of the financial services provider’s stock worth $1,032,000 after purchasing an additional 8,091 shares during the period. Hedge funds and other institutional investors own 85.86% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on WBS. Piper Sandler reduced their price target on shares of Webster Financial to $55.00 in a research report on Wednesday, October 5th. StockNews.com lowered Webster Financial from a “hold” rating to a “sell” rating in a research note on Monday, January 2nd. Raymond James began coverage on Webster Financial in a report on Friday, November 4th. They issued an “outperform” rating and a $60.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on Webster Financial from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, December 13th. Finally, TheStreet raised Webster Financial from a “c+” rating to a “b-” rating in a report on Tuesday, September 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $59.63.

Webster Financial Trading Up 2.0 %

Shares of WBS opened at $47.46 on Tuesday. Webster Financial Co. has a 52-week low of $40.72 and a 52-week high of $63.23. The stock has a market cap of $8.26 billion, a PE ratio of 14.08 and a beta of 1.26. The firm’s fifty day moving average is $48.64 and its two-hundred day moving average is $48.21. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.61.

About Webster Financial

(Get Rating)

Webster Financial Corp. is a holding company, which engages in the provision of financial services to individuals, families, and businesses. It operates through the following business segments: Commercial Banking, HSA Bank, and Retail Banking. The Commercial Banking segment includes commercial banking and private banking.

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