Algert Global LLC Has $16.59 Million Stake in Webster Financial Co. (NYSE:WBS)

Algert Global LLC grew its stake in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 72.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,452 shares of the financial services provider's stock after acquiring an additional 126,262 shares during the period. Webster Financial comprises approximately 0.4% of Algert Global LLC's holdings, making the stock its 17th biggest position. Algert Global LLC owned 0.18% of Webster Financial worth $16,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in Webster Financial during the fourth quarter valued at approximately $26,000. Headlands Technologies LLC bought a new position in Webster Financial during the fourth quarter worth $32,000. R Squared Ltd bought a new position in Webster Financial during the fourth quarter worth $43,000. UMB Bank n.a. boosted its holdings in Webster Financial by 88.1% in the fourth quarter. UMB Bank n.a. now owns 1,119 shares of the financial services provider's stock worth $62,000 after purchasing an additional 524 shares during the period. Finally, Aster Capital Management DIFC Ltd raised its holdings 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 purchasing an additional 1,114 shares during the period. Institutional investors own 85.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WBS shares. 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 note on Wednesday, April 9th. StockNews.com upgraded Webster Financial from a "sell" rating to a "hold" rating in a report on Saturday, January 11th. Barclays lowered their price objective on shares of Webster Financial from $80.00 to $72.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods cut their price objective on Webster Financial from $70.00 to $65.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. dropped their price target on Webster Financial from $67.00 to $65.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $62.73.

Webster Financial Stock Up 0.3 %

Shares of NYSE:WBS traded up $0.15 on Wednesday, reaching $48.74. The company had a trading volume of 926,844 shares, compared to its average volume of 1,251,202. Webster Financial Co. has a twelve month low of $39.34 and a twelve month high of $63.99. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.34. The stock has a 50-day moving average price of $48.37 and a 200 day moving average price of $54.34. The stock has a market capitalization of $8.20 billion, a P/E ratio of 11.15, a P/E/G ratio of 1.02 and a beta of 0.98.

Webster Financial (NYSE:WBS - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.08). Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The business had revenue of $704.80 million for the quarter, compared to analyst estimates of $708.46 million. During the same period in the prior year, the firm posted $1.35 EPS. Webster Financial's revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities analysts expect that Webster Financial Co. will post 5.88 EPS for the current year.

Webster Financial Dividend Announcement

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 issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $1.60 annualized dividend and a yield of 3.28%. Webster Financial's dividend payout ratio (DPR) is 36.04%.

Webster Financial declared that its board has initiated a stock buyback program on Thursday, May 1st that authorizes the company to buyback $700.00 million in shares. This buyback authorization authorizes the financial services provider to purchase up to 8.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the business'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 of the company's stock, valued at approximately $12,063,228.93. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel Bley sold 1,800 shares of the company's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $47.84, for a total value of $86,112.00. Following the transaction, the insider now directly owns 21,517 shares in the company, valued at $1,029,373.28. This trade represents a 7.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,217 shares of company stock valued at $1,386,244 over the last ninety days. 0.54% of the stock is owned by company insiders.

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.