Ameriprise Financial Inc. Has $25.20 Million Holdings in Webster Financial Co. (NYSE:WBS)

Ameriprise Financial Inc. lessened its stake in Webster Financial Co. (NYSE:WBS - Free Report) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 456,284 shares of the financial services provider's stock after selling 4,742 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.27% of Webster Financial worth $25,196,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. HighTower Advisors LLC increased its position in shares of Webster Financial by 0.6% in the fourth quarter. HighTower Advisors LLC now owns 32,155 shares of the financial services provider's stock worth $1,776,000 after purchasing an additional 177 shares during the period. Sanctuary Advisors LLC lifted its stake in Webster Financial by 0.9% in the fourth quarter. Sanctuary Advisors LLC now owns 19,336 shares of the financial services provider's stock valued at $1,163,000 after buying an additional 178 shares during the period. Kovitz Investment Group Partners LLC lifted its holdings in shares of Webster Financial by 3.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,912 shares of the financial services provider's stock worth $326,000 after purchasing an additional 186 shares in the last quarter. Cardinal Capital Management grew its holdings in Webster Financial by 0.4% during the fourth quarter. Cardinal Capital Management now owns 49,983 shares of the financial services provider's stock worth $2,760,000 after buying an additional 189 shares in the last quarter. Finally, US Bancorp DE grew its holdings in Webster Financial by 2.8% during the fourth quarter. US Bancorp DE now owns 7,143 shares of the financial services provider's stock worth $394,000 after buying an additional 192 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company's stock.

Insider Activity

In other news, insider Daniel Bley sold 1,200 shares of Webster Financial stock in a transaction on Monday, May 5th. The stock was 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 of the company's stock, valued at approximately $1,015,240.49. This trade represents a 5.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the transaction, the chief executive officer now owns 210,051 shares in the company, valued at $12,063,228.93. This represents a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,217 shares of company stock valued at $1,386,244. Insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Morgan Stanley dropped their price objective on shares of Webster Financial from $75.00 to $66.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Barclays cut their target price 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. 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 report on Wednesday, April 9th. Truist Financial initiated coverage on Webster Financial in a report on Tuesday, May 13th. They issued a "buy" rating and a $61.00 target price on the stock. Finally, Royal Bank of Canada set a $60.00 target price on Webster Financial and gave the stock an "outperform" rating in a research report on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating, eight have given 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 $62.58.

Webster Financial Trading Down 0.8%

Shares of NYSE WBS traded down $0.40 during midday trading on Monday, hitting $52.50. The stock had a trading volume of 407,533 shares, compared to its average volume of 1,253,605. The company has a fifty day moving average price of $48.33 and a 200 day moving average price of $54.35. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.02 and a beta of 0.98. 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 1-year low of $39.34 and a 1-year high of $63.99.

Webster Financial (NYSE:WBS - Get Free Report) last issued 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). 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 for the quarter, compared to the consensus estimate of $708.46 million. During the same quarter in the previous year, the company earned $1.35 earnings per share. Webster Financial's quarterly revenue was up 5.7% compared to the same quarter last year. On average, analysts predict that Webster Financial Co. will post 5.88 earnings per share for the current year.

Webster Financial announced that its Board of Directors has initiated a share repurchase program on Thursday, May 1st that permits the company to buyback $700.00 million in shares. This buyback authorization permits the financial services provider to buy up to 8.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.05%. The ex-dividend date is Monday, May 12th. Webster Financial's payout ratio 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.