Nuveen Asset Management LLC Purchases 39,891 Shares of Webster Financial Co. (NYSE:WBS)

Nuveen Asset Management LLC raised its position in Webster Financial Co. (NYSE:WBS - Free Report) by 9.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 457,454 shares of the financial services provider's stock after buying an additional 39,891 shares during the period. Nuveen Asset Management LLC owned about 0.27% of Webster Financial worth $25,261,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Park Avenue Securities LLC acquired a new position in Webster Financial during the 4th quarter valued at about $246,000. Proficio Capital Partners LLC bought a new stake in shares of Webster Financial during the fourth quarter worth approximately $3,549,000. Charles Schwab Investment Management Inc. lifted its holdings in Webster Financial by 2.6% in the fourth 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 buying an additional 38,713 shares during the period. Barclays PLC boosted its stake in Webster Financial by 36.4% in the third quarter. Barclays PLC now owns 297,834 shares of the financial services provider's stock valued at $13,883,000 after acquiring an additional 79,556 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in 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 acquiring an additional 4,755 shares during the period. 85.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WBS has been the topic of a number of analyst reports. Wells Fargo & Company cut their price target 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. Truist Financial began coverage on Webster Financial in a report on Tuesday, May 13th. They issued a "buy" rating and a $61.00 price objective for the company. Royal Bank of Canada set a $60.00 target price on Webster Financial and gave the stock an "outperform" rating in a report on Friday, April 25th. Raymond James decreased their target price on Webster Financial from $65.00 to $58.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Finally, Jefferies Financial Group started coverage on shares of Webster Financial in a research report on Wednesday, May 21st. They issued a "buy" rating and a $65.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Webster Financial has an average rating of "Moderate Buy" and an average price target of $63.75.

Webster Financial Stock Down 0.7%

NYSE WBS traded down $0.38 on Wednesday, reaching $52.12. The company had a trading volume of 144,602 shares, compared to its average volume of 1,249,525. The company's fifty day moving average is $48.50 and its 200-day moving average is $54.21. The firm has a market capitalization of $8.77 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 1.02 and a beta of 0.98. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 0.84. Webster Financial Co. has a 1-year low of $39.33 and a 1-year high of $63.99.

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, research analysts forecast that Webster Financial Co. will post 5.88 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.60 annualized dividend and a yield of 3.07%. Webster Financial's dividend payout ratio (DPR) is presently 36.04%.

Webster Financial declared that its Board of Directors has authorized a share buyback program on Thursday, May 1st that permits the company to buyback $700.00 million in outstanding shares. This buyback authorization permits the financial services provider to buy up to 8.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Lauren States sold 2,200 shares of the company'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 sale, the director now directly owns 14,620 shares of the company's stock, valued at approximately $742,696. This represents a 13.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Bley sold 1,200 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $49.97, for a total value of $59,964.00. Following the transaction, the insider now directly owns 20,317 shares in the company, valued at $1,015,240.49. The trade was a 5.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,200 shares of company stock valued at $257,836 in the last 90 days. 0.54% of the stock is currently owned by insiders.

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.