Rhumbline Advisers Has $26.16 Million Stock Holdings in Webster Financial Co. (NYSE:WBS)

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

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

Insider Buying and Selling at Webster Financial

In related news, insider Javier L. Evans sold 7,800 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $52.58, for a total value of $410,124.00. Following the transaction, the insider now directly owns 19,820 shares in the company, valued at $1,042,135.60. This represents a 28.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lauren States sold 2,200 shares of the stock in a transaction on 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 transaction, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 13,000 shares of company stock worth $667,960. Company insiders own 0.54% of the company's stock.

Webster Financial Price Performance

Shares of WBS stock opened at $52.29 on Friday. Webster Financial Co. has a 1 year low of $39.34 and a 1 year high of $63.99. The firm's 50 day moving average is $48.47 and its 200-day moving average is $53.86. The firm has a market capitalization of $8.80 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 1.02 and a beta of 0.98. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34.

Webster Financial (NYSE:WBS - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $708.46 million. During the same period in the prior year, the company posted $1.35 EPS. The firm's quarterly revenue was up 5.7% compared to the same quarter last year. Sell-side analysts forecast that Webster Financial Co. will post 5.88 EPS for the current fiscal year.

Webster Financial declared that its board has authorized a stock repurchase 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 buy up to 8.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Webster Financial Dividend Announcement

The firm also recently announced 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 was Monday, May 12th. This represents a $1.60 dividend on an annualized basis and a yield of 3.06%. Webster Financial's payout ratio is presently 36.04%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Raymond James decreased their price objective on Webster Financial from $65.00 to $58.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Wells Fargo & Company decreased 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. Keefe, Bruyette & Woods decreased their price target on Webster Financial from $70.00 to $65.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Royal Bank of Canada set a $60.00 price target on Webster Financial and gave the company an "outperform" rating in a research note on Friday, April 25th. Finally, Barclays reduced their target price on shares of Webster Financial from $80.00 to $72.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Webster Financial currently has an average rating of "Moderate Buy" and a consensus price target of $63.75.

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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