Webster Financial Co. (NYSE:WBS) Shares Sold by Focus Partners Wealth

Focus Partners Wealth cut its stake in Webster Financial Co. (NYSE:WBS) by 88.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,668 shares of the financial services provider’s stock after selling 68,972 shares during the period. Focus Partners Wealth’s holdings in Webster Financial were worth $479,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in WBS. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Webster Financial during the fourth quarter worth $26,000. Headlands Technologies LLC acquired a new stake in shares of Webster Financial during the fourth quarter worth $32,000. R Squared Ltd bought a new position in shares of Webster Financial during the fourth quarter worth about $43,000. UMB Bank n.a. grew its position in shares of Webster Financial by 88.1% during the fourth quarter. UMB Bank n.a. now owns 1,119 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 524 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd grew its position in shares of Webster Financial by 742.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,264 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 1,114 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO John R. Ciulla sold 8,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.43, for a total value of $459,440.00. Following the transaction, the chief executive officer now owns 210,051 shares in the company, valued at approximately $12,063,228.93. This trade represents a 3.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Bley sold 1,200 shares of the firm’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $49.97, for a total value of $59,964.00. Following the completion of the sale, the insider now directly owns 20,317 shares in the company, valued at $1,015,240.49. This trade represents a 5.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,000 shares of company stock valued at $605,516 in the last quarter. 0.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WBS. Morgan Stanley reduced their price objective on shares of Webster Financial from $75.00 to $66.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Barclays reduced their price objective on shares of Webster Financial from $80.00 to $72.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods reduced their price target on shares of Webster Financial from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Royal Bank of Canada set a $60.00 price objective on Webster Financial and gave the stock an “outperform” rating in a report on Friday, April 25th. Finally, Truist Financial assumed coverage on shares of Webster Financial in a research note on Tuesday, May 13th. They issued a “buy” rating and a $61.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Webster Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.58.

Webster Financial Stock Performance

Webster Financial stock opened at $52.63 on Wednesday. The stock has a 50-day simple moving average of $48.47 and a 200 day simple moving average of $54.35. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.34. Webster Financial Co. has a 12-month low of $39.34 and a 12-month high of $63.99. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 1.02 and a beta of 0.98.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.08). The firm had revenue of $704.80 million during the quarter, compared to analyst estimates of $708.46 million. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. Webster Financial’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.35 earnings per share. On average, research analysts anticipate that Webster Financial Co. will post 5.88 earnings per share for the current fiscal year.

Webster Financial announced that its Board of Directors has approved a share buyback plan on Thursday, May 1st that permits the company to buyback $700.00 million in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 8.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Monday, May 12th. Webster Financial’s dividend payout ratio (DPR) is currently 36.04%.

Webster Financial Company 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.