Crestline Management LP Boosts Stake in Webster Financial Co. (NYSE:WBS)

Crestline Management LP lifted its holdings in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 338.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 80,730 shares of the financial services provider's stock after purchasing an additional 62,333 shares during the quarter. Crestline Management LP's holdings in Webster Financial were worth $4,458,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. HighTower Advisors LLC raised its stake in shares of Webster Financial by 0.6% in the 4th quarter. HighTower Advisors LLC now owns 32,155 shares of the financial services provider's stock valued at $1,776,000 after acquiring an additional 177 shares during the period. Sanctuary Advisors LLC increased its position in shares of Webster Financial by 0.9% during the fourth quarter. Sanctuary Advisors LLC now owns 19,336 shares of the financial services provider's stock worth $1,163,000 after acquiring an additional 178 shares during the period. Kovitz Investment Group Partners LLC raised its stake in shares of Webster Financial by 3.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,912 shares of the financial services provider's stock valued at $326,000 after acquiring an additional 186 shares in the last quarter. Cardinal Capital Management boosted its holdings in Webster Financial by 0.4% in the fourth quarter. Cardinal Capital Management now owns 49,983 shares of the financial services provider's stock valued at $2,760,000 after purchasing an additional 189 shares during the period. Finally, US Bancorp DE grew its stake in Webster Financial by 2.8% during the 4th quarter. US Bancorp DE now owns 7,143 shares of the financial services provider's stock worth $394,000 after purchasing an additional 192 shares in the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Webster Financial

In related news, Director Laurence C. Morse sold 13,217 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total transaction of $780,728.19. Following the completion of the sale, the director now directly owns 18,808 shares of the company's stock, valued at $1,110,988.56. This trade represents a 41.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel Bley sold 1,800 shares of the business's stock in a transaction 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 transaction, the insider now directly owns 21,517 shares in the company, valued at $1,029,373.28. This represents a 7.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,217 shares of company stock worth $1,386,244. 0.54% of the stock is owned by company insiders.

Webster Financial Stock Down 1.7 %

WBS opened at $48.65 on Wednesday. Webster Financial Co. has a one year low of $39.34 and a one year high of $63.99. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $8.19 billion, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 1.02 and a beta of 0.98. The business's 50-day simple moving average is $48.37 and its 200-day simple moving average is $54.34.

Webster Financial (NYSE:WBS - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.30 earnings per share 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 quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.35 EPS. Analysts anticipate that Webster Financial Co. will post 5.88 EPS for the current year.

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

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders 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 3.29%. The ex-dividend date of this dividend is Monday, May 12th. Webster Financial's payout ratio is currently 36.04%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WBS shares. Keefe, Bruyette & Woods decreased their price objective on Webster Financial from $70.00 to $65.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Morgan Stanley lowered their price target on shares of Webster Financial from $75.00 to $66.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. StockNews.com raised shares of Webster Financial from a "sell" rating to a "hold" rating in a research report on Saturday, January 11th. Royal Bank of Canada set a $60.00 target price on shares of Webster Financial and gave the stock an "outperform" rating in a research note on Friday, April 25th. Finally, Barclays dropped their target price on Webster Financial from $80.00 to $72.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Webster Financial has a consensus rating of "Moderate Buy" and an average target price of $62.73.

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.

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