Leeward Investments LLC MA Sells 4,857 Shares of Webster Financial Corporation (NYSE:WBS)

Leeward Investments LLC MA trimmed its position in Webster Financial Corporation (NYSE:WBS - Free Report) by 3.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,885 shares of the financial services provider's stock after selling 4,857 shares during the quarter. Leeward Investments LLC MA owned 0.08% of Webster Financial worth $7,160,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in WBS. FMR LLC boosted its stake in shares of Webster Financial by 1.2% during the 4th quarter. FMR LLC now owns 8,493,426 shares of the financial services provider's stock valued at $469,007,000 after buying an additional 99,908 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Webster Financial by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,620,818 shares of the financial services provider's stock worth $365,601,000 after purchasing an additional 45,310 shares in the last quarter. Capital International Investors grew its holdings in Webster Financial by 0.9% during the fourth quarter. Capital International Investors now owns 4,130,379 shares of the financial services provider's stock worth $228,000,000 after acquiring an additional 35,039 shares during the period. Earnest Partners LLC boosted its stake in shares of Webster Financial by 3.8% during the 4th quarter. Earnest Partners LLC now owns 3,154,160 shares of the financial services provider's stock worth $174,173,000 after acquiring an additional 116,508 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of Webster Financial by 4.0% in the 4th 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 in the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Price Performance

WBS traded up $0.92 on Friday, hitting $58.68. 1,183,065 shares of the stock were exchanged, compared to its average volume of 1,284,263. The business has a 50-day moving average of $52.24 and a two-hundred day moving average of $52.95. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 0.77 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.85 and a quick ratio of 0.85. 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 announced 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 return on equity of 10.57% and a net margin of 18.58%. The company had revenue of $704.80 million for the quarter, compared to analyst estimates of $708.46 million. During the same quarter last year, the company posted $1.35 earnings per share. The firm's quarterly revenue was up 5.7% on a year-over-year basis. Sell-side analysts forecast that Webster Financial Corporation will post 5.88 EPS for the current fiscal year.

Webster Financial announced that its board has initiated a stock buyback program on Thursday, May 1st that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 8.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Webster Financial Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 2.73%. Webster Financial's dividend payout ratio (DPR) is currently 36.04%.

Insiders Place Their Bets

In other Webster Financial news, Director Lauren States sold 2,200 shares of the business's stock in a transaction that occurred on 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 sale, the director directly owned 14,620 shares of the company's stock, valued at approximately $742,696. The trade was a 13.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel Bley sold 1,200 shares of Webster Financial stock in a transaction that occurred 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 transaction, the insider directly owned 20,317 shares in the company, valued at approximately $1,015,240.49. The trade was a 5.58% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,000 shares of company stock valued at $934,210. Company insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WBS shares. Morgan Stanley lowered their price target on Webster Financial from $75.00 to $66.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. JPMorgan Chase & Co. boosted their price target on shares of Webster Financial from $55.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday. Wells Fargo & Company dropped their target price on shares of Webster Financial from $75.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Truist Financial assumed coverage on shares of Webster Financial in a research note on Tuesday, May 13th. They issued a "buy" rating and a $61.00 target price for the company. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Webster Financial from $70.00 to $65.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given 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 price target of $63.75.

About Webster Financial

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.