Teza Capital Management LLC Makes New Investment in Webster Financial Co. (NYSE:WBS)

Teza Capital Management LLC acquired a new stake in shares of Webster Financial Co. (NYSE:WBS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,352 shares of the financial services provider's stock, valued at approximately $516,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC grew its position in Webster Financial by 1.2% in the fourth quarter. FMR LLC now owns 8,493,426 shares of the financial services provider's stock valued at $469,007,000 after acquiring an additional 99,908 shares during the period. Dimensional Fund Advisors LP grew its position in Webster Financial by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,620,818 shares of the financial services provider's stock valued at $365,601,000 after acquiring an additional 45,310 shares during the period. Capital International Investors grew its position in Webster Financial by 0.9% in the fourth quarter. Capital International Investors now owns 4,130,379 shares of the financial services provider's stock valued at $228,000,000 after acquiring an additional 35,039 shares during the period. Earnest Partners LLC grew its position in Webster Financial by 3.8% in the fourth quarter. Earnest Partners LLC now owns 3,154,160 shares of the financial services provider's stock valued at $174,173,000 after acquiring an additional 116,508 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its position in Webster Financial by 4.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,948,701 shares of the financial services provider's stock valued at $162,828,000 after acquiring an additional 114,375 shares during the period. 85.58% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Daniel Bley sold 1,800 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $47.84, for a total transaction of $86,112.00. Following the transaction, the insider now owns 21,517 shares of the company's stock, valued at $1,029,373.28. This represents a 7.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lauren States sold 2,200 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $50.80, for a total value of $111,760.00. Following the completion of the transaction, the director now directly owns 14,620 shares in the company, valued at $742,696. The trade was a 13.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,200 shares of company stock valued at $257,836 over the last 90 days. 0.54% of the stock is owned by company insiders.

Webster Financial Trading Down 0.2%

Shares of WBS traded down $0.08 during trading hours on Friday, hitting $51.22. 1,128,546 shares of the stock traded hands, compared to its average volume of 1,271,736. The company has a current ratio of 0.84, a quick 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. The firm has a market capitalization of $8.62 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.02 and a beta of 0.98. The business has a fifty day moving average of $48.49 and a 200-day moving average of $54.29.

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

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

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.12%. The ex-dividend date was Monday, May 12th. Webster Financial's dividend payout ratio (DPR) is presently 36.04%.

Analyst Ratings Changes

WBS has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lowered their price target on Webster Financial from $70.00 to $65.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Truist Financial assumed coverage on Webster Financial in a research report on Tuesday, May 13th. They issued a "buy" rating and a $61.00 price target on the stock. Jefferies Financial Group assumed coverage on Webster Financial in a report on Wednesday. They set a "buy" rating and a $65.00 target price on the stock. Barclays lowered their target price on Webster Financial from $80.00 to $72.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Raymond James cut their price target on Webster Financial from $65.00 to $58.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Three 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.75.

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.