Rhumbline Advisers Purchases 10,236 Shares of Webster Financial Co. (NYSE:WBS)

Rhumbline Advisers grew its holdings in Webster Financial Co. (NYSE:WBS - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 507,549 shares of the financial services provider's stock after purchasing an additional 10,236 shares during the period. Rhumbline Advisers owned approximately 0.30% of Webster Financial worth $26,164,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of WBS. Parallel Advisors LLC boosted its stake in shares of Webster Financial by 78.7% during the first quarter. Parallel Advisors LLC now owns 1,117 shares of the financial services provider's stock valued at $58,000 after purchasing an additional 492 shares in the last quarter. GAMMA Investing LLC boosted its position in Webster Financial by 7,543.0% during the 1st quarter. GAMMA Investing LLC now owns 156,300 shares of the financial services provider's stock worth $8,057,000 after buying an additional 154,255 shares during the period. Versant Capital Management Inc boosted its position in Webster Financial by 171.2% during the 1st quarter. Versant Capital Management Inc now owns 1,025 shares of the financial services provider's stock worth $53,000 after buying an additional 647 shares during the period. Penbrook Management LLC grew its holdings in Webster Financial by 5.2% during the 1st quarter. Penbrook Management LLC now owns 5,080 shares of the financial services provider's stock worth $262,000 after acquiring an additional 250 shares during the last quarter. Finally, 111 Capital acquired a new position in Webster Financial in the 4th quarter valued at approximately $578,000. Institutional investors and hedge funds own 85.58% of the company's stock.

Webster Financial Stock Up 0.3%

Shares of NYSE WBS traded up $0.18 during trading on Monday, hitting $53.87. 1,218,310 shares of the company traded hands, compared to its average volume of 1,282,318. The firm has a market capitalization of $9.06 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 1.02 and a beta of 1.00. The business's fifty day moving average is $48.54 and its 200 day moving average is $53.73. 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 fifty-two week low of $39.34 and a fifty-two week 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 10.82% and a net margin of 18.39%. The firm had revenue of $704.80 million during the quarter, compared to the consensus estimate of $708.46 million. During the same quarter in the previous year, the company posted $1.35 EPS. The firm's revenue was up 5.7% on a year-over-year basis. Equities research analysts predict that Webster Financial Co. will post 5.88 earnings per share for the current fiscal year.

Webster Financial announced that its board has approved a share repurchase plan on Thursday, May 1st that authorizes the company to repurchase $700.00 million in 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 often a sign that the company's management believes its stock is undervalued.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend was Monday, May 12th. Webster Financial's payout ratio is currently 36.04%.

Insider Buying and Selling at Webster Financial

In other news, insider Javier L. Evans sold 7,800 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $52.58, for a total value of $410,124.00. Following the completion of the sale, the insider now directly owns 19,820 shares of the company's stock, valued at $1,042,135.60. This represents a 28.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charles L. Wilkins sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $53.25, for a total value of $266,250.00. Following the completion of the transaction, the insider now owns 31,534 shares in the company, valued at $1,679,185.50. This represents a 13.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,000 shares of company stock worth $934,210. 0.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WBS. Keefe, Bruyette & Woods reduced their price objective 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. Truist Financial initiated coverage on Webster Financial in a research report on Tuesday, May 13th. They issued a "buy" rating and a $61.00 price target on the stock. Barclays decreased their price target on Webster Financial from $80.00 to $72.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company cut their price objective 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. Finally, Raymond James decreased their target price on shares of Webster Financial from $65.00 to $58.00 and set an "outperform" rating for the company in a research 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $63.75.

Webster Financial Company 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.