Webster Financial Co. (NYSE:WBS) Shares Bought by UMB Bank n.a.

UMB Bank n.a. raised its stake in Webster Financial Co. (NYSE:WBS) by 33.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,491 shares of the financial services provider’s stock after buying an additional 372 shares during the quarter. UMB Bank n.a.’s holdings in Webster Financial were worth $77,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of Webster Financial in the fourth quarter valued at about $120,497,000. Balyasny Asset Management L.P. increased its stake in Webster Financial by 1,253.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,120,914 shares of the financial services provider’s stock worth $61,897,000 after acquiring an additional 1,038,085 shares during the last quarter. Millennium Management LLC raised its position in Webster Financial by 43.0% in the fourth quarter. Millennium Management LLC now owns 2,547,225 shares of the financial services provider’s stock valued at $140,658,000 after purchasing an additional 766,019 shares during the period. TimesSquare Capital Management LLC lifted its stake in shares of Webster Financial by 759.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 823,280 shares of the financial services provider’s stock valued at $45,462,000 after purchasing an additional 727,530 shares during the last quarter. Finally, FJ Capital Management LLC purchased a new position in shares of Webster Financial during the 4th quarter worth $29,177,000. 85.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $53.25, for a total transaction of $266,250.00. Following the transaction, the insider now owns 31,534 shares of the company’s stock, valued at approximately $1,679,185.50. This trade represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lauren States sold 2,200 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $50.80, for a total value of $111,760.00. Following the completion of the sale, the director now directly owns 14,620 shares of the company’s stock, valued at approximately $742,696. This trade represents a 13.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,000 shares of company stock worth $934,210 over the last 90 days. 0.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on WBS shares. Barclays reduced their price objective on shares of Webster Financial from $80.00 to $72.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada set a $60.00 price target on Webster Financial and gave the stock an “outperform” rating in a research report on Friday, April 25th. Raymond James dropped their target price on Webster Financial from $65.00 to $58.00 and set an “outperform” rating for the company in a research report on Wednesday, April 2nd. Wells Fargo & Company cut their price target on shares of Webster Financial from $75.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Finally, Truist Financial initiated 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 for the company. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Webster Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.75.

Webster Financial Trading Down 2.7%

Shares of NYSE:WBS opened at $51.86 on Friday. Webster Financial Co. has a 52 week low of $39.34 and a 52 week high of $63.99. The company’s 50 day moving average is $49.47 and its two-hundred day moving average is $53.54. The company has a market cap of $8.72 billion, a PE ratio of 11.87, a P/E/G ratio of 1.02 and a beta of 1.00. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34.

Webster Financial (NYSE:WBS) last posted its earnings results on Thursday, April 24th. The financial services provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.08). The business had revenue of $704.80 million during the quarter, compared to analysts’ expectations of $708.46 million. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company earned $1.35 EPS. Equities analysts predict that Webster Financial Co. will post 5.88 earnings per share for the current fiscal year.

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

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Monday, May 12th. Webster Financial’s payout ratio is 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.