Allspring Global Investments Holdings LLC decreased its holdings in shares of Webster Financial Corporation (NYSE:WBS - Free Report) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,778,256 shares of the financial services provider's stock after selling 16,075 shares during the period. Allspring Global Investments Holdings LLC owned about 1.06% of Webster Financial worth $90,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Skandinaviska Enskilda Banken AB publ purchased a new position in Webster Financial in the 4th quarter valued at $26,000. Headlands Technologies LLC purchased a new position in Webster Financial in the 4th quarter valued at $32,000. Versant Capital Management Inc lifted its holdings in Webster Financial by 171.2% in the 1st quarter. Versant Capital Management Inc now owns 1,025 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 647 shares in the last quarter. Bessemer Group Inc. lifted its holdings in Webster Financial by 166.1% in the 1st quarter. Bessemer Group Inc. now owns 1,027 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 641 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Webster Financial by 78.7% in the 1st quarter. Parallel Advisors LLC now owns 1,117 shares of the financial services provider's stock valued at $58,000 after purchasing an additional 492 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company's stock.
Insider Buying and Selling
In related news, Director Lauren States sold 2,200 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $50.80, for a total transaction 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. This trade represents a 13.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel Bley sold 1,200 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $49.97, for a total value of $59,964.00. Following the transaction, the insider now owns 20,317 shares of the company's stock, valued at $1,015,240.49. This trade represents a 5.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,000 shares of company stock valued at $934,210. 0.54% of the stock is currently owned by insiders.
Analyst Ratings Changes
WBS has been the topic of a number of research reports. Truist Financial initiated coverage on Webster Financial in a report on Tuesday, May 13th. They issued a "buy" rating and a $61.00 price objective on the stock. Raymond James Financial decreased their price objective on Webster Financial from $65.00 to $58.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Jefferies Financial Group initiated coverage on Webster Financial in a report on Wednesday, May 21st. They issued a "buy" rating and a $65.00 price objective on the stock. Barclays decreased their price objective on Webster Financial from $80.00 to $72.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company cut their target price on Webster Financial from $75.00 to $60.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $63.75.
Read Our Latest Research Report on WBS
Webster Financial Stock Up 0.2%
Shares of NYSE:WBS opened at $54.79 on Friday. The business has a 50-day moving average price of $51.17 and a 200 day moving average price of $52.96. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $9.22 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 0.71 and a beta of 1.00. Webster Financial Corporation has a 12-month low of $39.43 and a 12-month 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.38 by ($0.08). The business had revenue of $704.80 million for the quarter, compared to analyst estimates of $708.46 million. Webster Financial had a return on equity of 10.57% and a net margin of 18.58%. The firm's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.35 earnings per share. Sell-side analysts expect that Webster Financial Corporation will post 5.88 EPS for the current year.
Webster Financial declared that its Board of Directors has approved a share repurchase plan on Thursday, May 1st that permits the company to buyback $700.00 million in shares. This buyback authorization permits the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.
Webster Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Monday, May 12th. Webster Financial's payout ratio is 36.04%.
Webster Financial Profile
(
Free Report)
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.
Featured Articles
Want to see what other hedge funds are holding WBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Webster Financial Corporation (NYSE:WBS - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Webster Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Webster Financial wasn't on the list.
While Webster Financial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
