Ensign Peak Advisors Inc Sells 13,265 Shares of Webster Financial Co. (NYSE:WBS)

Ensign Peak Advisors Inc lessened its position in Webster Financial Co. (NYSE:WBS - Free Report) by 16.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,496 shares of the financial services provider's stock after selling 13,265 shares during the period. Ensign Peak Advisors Inc's holdings in Webster Financial were worth $3,727,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in WBS. Hennion & Walsh Asset Management Inc. acquired a new stake in Webster Financial during the 4th quarter valued at $269,000. Park Avenue Securities LLC bought a new stake in shares of Webster Financial in the 4th quarter worth approximately $246,000. Proficio Capital Partners LLC acquired a new position in shares of Webster Financial during the fourth quarter valued at $3,549,000. Charles Schwab Investment Management Inc. increased its stake in shares of Webster Financial by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,507,655 shares of the financial services provider's stock valued at $83,253,000 after purchasing an additional 38,713 shares during the period. Finally, Barclays PLC raised its stake in Webster Financial by 36.4% during the 3rd quarter. Barclays PLC now owns 297,834 shares of the financial services provider's stock valued at $13,883,000 after acquiring an additional 79,556 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company's stock.

Webster Financial Stock Down 0.9%

NYSE:WBS traded down $0.46 on Monday, hitting $52.44. The stock had a trading volume of 478,863 shares, compared to its average volume of 1,243,179. The business's fifty day moving average is $48.33 and its 200 day moving average is $54.35. The company has a market cap of $8.82 billion, a PE ratio of 12.00, a P/E/G 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 52 week low of $39.33 and a 52 week 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 return on equity of 10.82% and a net margin of 18.39%. The business's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.35 earnings per share. On average, equities research analysts expect 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. Stockholders of record on Monday, May 12th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Monday, May 12th. Webster Financial's payout ratio is 36.04%.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on WBS shares. Raymond James reduced their target price on Webster Financial from $65.00 to $58.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Barclays cut 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. Keefe, Bruyette & Woods lowered their target price on shares of Webster Financial from $70.00 to $65.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Truist Financial initiated coverage on shares of Webster Financial in a research report on Tuesday, May 13th. They set a "buy" rating and a $61.00 price objective for the company. Finally, Royal Bank of Canada set a $60.00 price target on shares of Webster Financial and gave the stock an "outperform" rating in a research note on Friday, April 25th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $62.58.

Insider Buying and Selling at Webster Financial

In other news, 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 transaction, the chief executive officer now directly owns 210,051 shares in the company, valued at $12,063,228.93. This trade represents a 3.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Laurence C. Morse sold 13,217 shares of Webster Financial stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $59.07, for a total value of $780,728.19. Following the transaction, the director now directly owns 18,808 shares in the company, valued at approximately $1,110,988.56. The trade was a 41.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,217 shares of company stock worth $1,386,244 over the last three months. 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.