Point72 Hong Kong Ltd Buys Shares of 28,671 Webster Financial Co. (NYSE:WBS)

Point72 Hong Kong Ltd purchased a new stake in shares of Webster Financial Co. (NYSE:WBS - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 28,671 shares of the financial services provider's stock, valued at approximately $1,583,000.

A number of other large investors have also recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ bought a new stake in Webster Financial in the 4th quarter worth approximately $26,000. Headlands Technologies LLC bought a new stake in Webster Financial in the 4th quarter worth approximately $32,000. R Squared Ltd bought a new stake in Webster Financial in the 4th quarter worth approximately $43,000. UMB Bank n.a. lifted its position in Webster Financial by 88.1% in the 4th quarter. UMB Bank n.a. now owns 1,119 shares of the financial services provider's stock worth $62,000 after buying an additional 524 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd lifted its position in Webster Financial by 742.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,264 shares of the financial services provider's stock worth $70,000 after buying an additional 1,114 shares during the last quarter. Institutional investors own 85.58% of the company's stock.

Insider Activity at Webster Financial

In related news, insider Daniel Bley sold 1,800 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $47.84, for a total transaction of $86,112.00. Following the completion of the sale, the insider now owns 21,517 shares in the company, valued at approximately $1,029,373.28. This trade represents a 7.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $57.43, for a total value of $459,440.00. Following the sale, the chief executive officer now owns 210,051 shares of the company's stock, valued at $12,063,228.93. This represents a 3.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,000 shares of company stock valued at $605,516 over the last ninety days. Insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Keefe, Bruyette & Woods dropped their target price on Webster Financial from $70.00 to $65.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Truist Financial began coverage on Webster Financial in a research report on Tuesday, May 13th. They issued a "buy" rating and a $61.00 price objective for the company. Morgan Stanley lowered their price objective on 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. Wells Fargo & Company lowered their price objective on Webster Financial from $75.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Finally, Raymond James lowered their price objective 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. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.75.

Webster Financial Stock Down 0.7%

Shares of NYSE WBS traded down $0.37 during trading on Wednesday, reaching $52.28. The company had a trading volume of 625,066 shares, compared to its average volume of 1,255,715. Webster Financial Co. has a 12-month low of $39.34 and a 12-month high of $63.99. The stock has a market cap of $8.80 billion, a PE ratio of 11.97, a P/E/G ratio of 1.02 and a beta of 0.98. The business's 50-day moving average is $48.47 and its 200 day moving average is $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 (NYSE:WBS - Get Free Report) last released its earnings results 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). Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The company had revenue of $704.80 million during the quarter, compared to analysts' expectations of $708.46 million. During the same period in the prior year, the company posted $1.35 earnings per share. The company's revenue was up 5.7% on a year-over-year basis. As a group, equities analysts forecast that Webster Financial Co. will post 5.88 earnings per share for the current fiscal year.

Webster Financial announced that its board has authorized a stock repurchase program on Thursday, May 1st that allows the company to buyback $700.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 8.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.06%. Webster Financial's dividend payout ratio is currently 36.04%.

Webster Financial 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.