Hunter Perkins Capital Management LLC Raises Holdings in Webster Financial Corporation (NYSE:WBS)

Hunter Perkins Capital Management LLC increased its stake in shares of Webster Financial Corporation (NYSE:WBS - Free Report) by 38.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,045 shares of the financial services provider's stock after purchasing an additional 28,235 shares during the period. Webster Financial accounts for about 1.2% of Hunter Perkins Capital Management LLC's holdings, making the stock its 28th biggest position. Hunter Perkins Capital Management LLC owned about 0.06% of Webster Financial worth $5,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new position in shares of Webster Financial in the fourth quarter worth $3,549,000. Charles Schwab Investment Management Inc. lifted its holdings in Webster Financial by 2.6% in the 4th 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 in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Webster Financial by 34.2% during the 4th quarter. Lazard Asset Management LLC now owns 18,647 shares of the financial services provider's stock worth $1,028,000 after purchasing an additional 4,755 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Webster Financial by 28.7% during the fourth quarter. LPL Financial LLC now owns 70,155 shares of the financial services provider's stock worth $3,874,000 after buying an additional 15,627 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Webster Financial during the fourth quarter valued at approximately $14,735,000. Institutional investors and hedge funds own 85.58% of the company's stock.

Insider Buying and Selling at Webster Financial

In related news, insider Daniel Bley sold 1,200 shares of Webster Financial stock in a transaction on Monday, May 5th. The shares were sold at an average price of $49.97, for a total value of $59,964.00. Following the completion of the sale, the insider now owns 20,317 shares in the company, valued at approximately $1,015,240.49. The trade was a 5.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Javier L. Evans sold 7,800 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $52.58, for a total transaction of $410,124.00. Following the transaction, the insider now owns 19,820 shares in the company, valued at $1,042,135.60. This trade represents a 28.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,000 shares of company stock valued at $934,210 in the last ninety days. Insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

WBS has been the subject of several analyst reports. Truist Financial began coverage on Webster Financial in a report on Tuesday, May 13th. They issued a "buy" rating and a $61.00 price target for the company. Jefferies Financial Group started coverage on Webster Financial in a research note on Wednesday, May 21st. They issued a "buy" rating and a $65.00 target price for the company. Royal Bank Of Canada set a $60.00 price target on Webster Financial and gave the stock an "outperform" rating in a research note on Friday, April 25th. Barclays lowered their price target on Webster Financial from $80.00 to $72.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Raymond James Financial cut their price objective on shares of Webster Financial from $65.00 to $58.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Webster Financial has a consensus rating of "Moderate Buy" and a consensus price target of $63.75.

Webster Financial Stock Performance

Shares of NYSE:WBS opened at $54.76 on Friday. The company has a market cap of $9.21 billion, a P/E ratio of 12.33, a PEG ratio of 0.69 and a beta of 1.00. Webster Financial Corporation has a one year low of $39.43 and a one year high of $63.99. The business's 50-day simple moving average is $50.98 and its 200 day simple moving average is $53.03. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.85 and a current ratio of 0.85.

Webster Financial (NYSE:WBS - Get Free Report) last posted its earnings results 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 firm 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 company's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.35 earnings per share. On average, sell-side analysts forecast that Webster Financial Corporation will post 5.88 earnings per share for the current fiscal year.

Webster Financial announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 1st that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the financial services provider to repurchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.60 dividend on an annualized basis and a yield of 2.92%. Webster Financial's payout ratio is currently 36.04%.

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.

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