DekaBank Deutsche Girozentrale Sells 4,390 Shares of Webster Financial Corporation (NYSE:WBS)

DekaBank Deutsche Girozentrale lessened its holdings in shares of Webster Financial Corporation (NYSE:WBS - Free Report) by 63.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,502 shares of the financial services provider's stock after selling 4,390 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Webster Financial were worth $126,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Beverly Hills Private Wealth LLC grew its position in Webster Financial by 4.5% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 6,058 shares of the financial services provider's stock valued at $312,000 after buying an additional 262 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Webster Financial by 292.0% during the first quarter. Crossmark Global Holdings Inc. now owns 38,426 shares of the financial services provider's stock valued at $1,981,000 after acquiring an additional 28,623 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Webster Financial by 1.8% during the first quarter. Envestnet Asset Management Inc. now owns 267,787 shares of the financial services provider's stock valued at $13,804,000 after acquiring an additional 4,684 shares during the period. Teacher Retirement System of Texas lifted its position in Webster Financial by 33.0% in the first quarter. Teacher Retirement System of Texas now owns 58,155 shares of the financial services provider's stock worth $2,998,000 after purchasing an additional 14,416 shares during the period. Finally, First Horizon Advisors Inc. lifted its position in Webster Financial by 26.1% in the first quarter. First Horizon Advisors Inc. now owns 1,486 shares of the financial services provider's stock worth $77,000 after purchasing an additional 308 shares during the period. Institutional investors own 85.58% of the company's stock.

Webster Financial Stock Up 2.6%

NYSE WBS traded up $1.52 during trading on Thursday, reaching $59.96. 3,630,025 shares of the company's stock were exchanged, compared to its average volume of 1,289,530. The firm has a market capitalization of $10.09 billion, a PE ratio of 13.51, a P/E/G ratio of 0.76 and a beta of 1.00. Webster Financial Corporation has a fifty-two week low of $39.43 and a fifty-two week high of $63.99. 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's fifty day simple moving average is $53.91 and its 200-day simple moving average is $53.15.

Webster Financial (NYSE:WBS - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.52 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.09. Webster Financial had a net margin of 18.58% and a return on equity of 10.57%. The firm had revenue of $715.80 million for the quarter, compared to the consensus estimate of $716.59 million. During the same period in the previous year, the firm posted $1.26 earnings per share. The firm's revenue was up 16.5% on a year-over-year basis. Sell-side analysts predict that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.60 annualized dividend and a dividend yield of 2.67%. Webster Financial's dividend payout ratio is 36.04%.

Webster Financial announced that its Board of Directors has initiated a share buyback program on Thursday, May 1st that allows the company to repurchase $700.00 million in shares. This repurchase authorization allows the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Webster Financial from $55.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. UBS Group restated a "buy" rating and set a $69.00 price objective on shares of Webster Financial in a research report on Wednesday, July 9th. Keefe, Bruyette & Woods dropped their target price on shares of Webster Financial from $70.00 to $65.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Barclays lifted their price target on shares of Webster Financial from $72.00 to $77.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, Raymond James Financial restated an "outperform" rating and issued a $65.00 target price (up from $58.00) on shares of Webster Financial in a report on Tuesday, July 8th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $65.50.

Insider Transactions at Webster Financial

In related news, insider Daniel Bley sold 1,800 shares of the firm's 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 transaction, the insider owned 21,517 shares of the company's stock, valued at approximately $1,029,373.28. This trade represents a 7.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren States sold 2,200 shares of Webster Financial stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $50.80, for a total transaction of $111,760.00. Following the completion of the sale, the director owned 14,620 shares of the company's stock, valued at $742,696. This trade represents a 13.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,000 shares of company stock worth $934,210. 0.54% of the stock is owned by company insiders.

Webster Financial 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.