GTS Securities LLC Purchases Shares of 7,006 Webster Financial Co. (NYSE:WBS)

GTS Securities LLC purchased a new stake in shares of Webster Financial Co. (NYSE:WBS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,006 shares of the financial services provider's stock, valued at approximately $387,000.

Several other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in Webster Financial in the fourth quarter valued at about $120,497,000. Balyasny Asset Management L.P. lifted its stake in Webster Financial by 1,253.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,120,914 shares of the financial services provider's stock valued at $61,897,000 after buying an additional 1,038,085 shares during the period. Millennium Management LLC lifted its stake in Webster Financial by 43.0% in the fourth quarter. Millennium Management LLC now owns 2,547,225 shares of the financial services provider's stock valued at $140,658,000 after buying an additional 766,019 shares during the period. TimesSquare Capital Management LLC lifted its stake in Webster Financial by 759.8% in the fourth quarter. TimesSquare Capital Management LLC now owns 823,280 shares of the financial services provider's stock valued at $45,462,000 after buying an additional 727,530 shares during the period. Finally, FJ Capital Management LLC acquired a new position in Webster Financial in the fourth quarter valued at about $29,177,000. Institutional investors and hedge funds own 85.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WBS. Wells Fargo & Company cut their target price on Webster Financial from $75.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Jefferies Financial Group began coverage on Webster Financial in a research note on Wednesday, May 21st. They issued a "buy" rating and a $65.00 target price on the stock. Royal Bank of Canada set a $60.00 target price on Webster Financial and gave the company an "outperform" rating in a research note on Friday, April 25th. Raymond James dropped their price target on Webster Financial from $65.00 to $58.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Finally, Barclays dropped their price target on Webster Financial from $80.00 to $72.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Three 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. According to MarketBeat.com, Webster Financial currently has an average rating of "Moderate Buy" and a consensus target price of $63.75.

Webster Financial Stock Down 1.0%

NYSE:WBS traded down $0.53 during trading hours on Friday, reaching $51.57. 1,397,938 shares of the stock were exchanged, compared to its average volume of 1,276,477. The stock has a market cap of $8.68 billion, a PE ratio of 11.80, a PEG ratio of 1.02 and a beta of 0.98. Webster Financial Co. has a twelve month low of $39.34 and a twelve month high of $63.99. The firm has a 50 day moving average of $48.46 and a 200 day moving average of $54.08. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84.

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

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were given 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 yield of 3.10%. Webster Financial's dividend payout ratio (DPR) is presently 36.04%.

Webster Financial declared that its board has authorized a stock buyback 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 repurchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Lauren States sold 2,200 shares of the firm's 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 sale, the director now directly owns 14,620 shares in the company, valued at approximately $742,696. This trade represents a 13.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction of $59,964.00. Following the completion of the sale, 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. Insiders have sold 13,000 shares of company stock valued at $667,960 in the last three months. 0.54% of the stock is currently owned by corporate 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.