Bayesian Capital Management LP Purchases Shares of 15,000 Webster Financial Co. (NYSE:WBS)

Bayesian Capital Management LP acquired a new position in shares of Webster Financial Co. (NYSE:WBS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 15,000 shares of the financial services provider's stock, valued at approximately $828,000.

Several other institutional investors have also modified their holdings of the stock. Bank of America Corp DE boosted its position in shares of Webster Financial by 3.9% in the 4th quarter. Bank of America Corp DE now owns 2,641,766 shares of the financial services provider's stock valued at $145,878,000 after purchasing an additional 99,586 shares during the period. Algert Global LLC increased its stake in Webster Financial by 72.5% in the fourth quarter. Algert Global LLC now owns 300,452 shares of the financial services provider's stock valued at $16,591,000 after purchasing an additional 126,262 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Webster Financial in the fourth quarter valued at about $1,193,000. Comerica Bank boosted its stake in shares of Webster Financial by 6.9% during the fourth quarter. Comerica Bank now owns 66,865 shares of the financial services provider's stock worth $3,692,000 after buying an additional 4,295 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Webster Financial by 27.5% during the fourth quarter. Northern Trust Corp now owns 1,528,459 shares of the financial services provider's stock worth $84,402,000 after buying an additional 329,267 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company's stock.

Webster Financial Trading Down 0.5 %

Shares of Webster Financial stock opened at $49.48 on Tuesday. The business has a 50 day moving average price of $48.52 and a 200 day moving average price of $54.38. The company has a market capitalization of $8.33 billion, a P/E ratio of 11.32, a P/E/G ratio of 1.02 and a beta of 0.98. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84. 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 released its earnings results on Thursday, April 24th. The financial services provider reported $1.30 earnings per share (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 analysts' expectations of $708.46 million. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. Webster Financial's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the company posted $1.35 earnings per share. Sell-side analysts anticipate that Webster Financial Co. will post 5.88 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Monday, May 12th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Monday, May 12th. Webster Financial's dividend payout ratio (DPR) is 36.04%.

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

Wall Street Analyst Weigh In

WBS has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on Webster Financial from $67.00 to $65.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Morgan Stanley lowered 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 research report on Thursday, March 13th. Keefe, Bruyette & Woods cut their price objective 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 target on Webster Financial and gave the company an "outperform" rating in a report on Friday, April 25th. Finally, 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. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.73.

Insider Activity

In other news, 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 completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Bley sold 1,800 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were 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 directly owns 21,517 shares of the company's stock, 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 23,017 shares of company stock valued at $1,326,280 in the last ninety days. Company insiders own 0.54% of the company's stock.

About Webster Financial

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.

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