Stablepoint Partners LLC Sells 9,387 Shares of Webster Financial Co. (NYSE:WBS)

Stablepoint Partners LLC decreased its stake in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 9.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,129 shares of the financial services provider's stock after selling 9,387 shares during the period. Stablepoint Partners LLC's holdings in Webster Financial were worth $4,388,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its stake in 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 grew its holdings in shares of Webster Financial by 0.7% in 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 acquiring an additional 45,310 shares during the period. Capital International Investors increased its position 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 valued at $228,000,000 after acquiring an additional 35,039 shares during the last quarter. Earnest Partners LLC lifted its holdings in Webster Financial by 3.8% in the fourth quarter. Earnest Partners LLC now owns 3,154,160 shares of the financial services provider's stock valued at $174,173,000 after acquiring an additional 116,508 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in Webster Financial by 4.0% in the fourth 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 during the period. Hedge funds and other institutional investors own 85.58% of the company's stock.

Webster Financial Price Performance

Webster Financial stock traded up $1.44 during mid-day trading on Friday, hitting $53.76. The stock had a trading volume of 1,022,412 shares, compared to its average volume of 1,280,069. Webster Financial Co. has a one year low of $39.34 and a one year high of $63.99. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $9.04 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.02 and a beta of 0.98. The firm's 50 day moving average is $48.54 and its 200 day moving average is $53.81.

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 the consensus estimate of $1.38 by ($0.08). Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. The business had revenue of $704.80 million during the quarter, compared to analysts' expectations of $708.46 million. During the same quarter in the previous year, the firm earned $1.35 earnings per share. Webster Financial's revenue was up 5.7% on a year-over-year basis. On average, sell-side analysts forecast that Webster Financial Co. will post 5.88 earnings per share for the current fiscal year.

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 issued a $0.40 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.60 dividend on an annualized basis and a yield of 2.98%. Webster Financial's dividend payout ratio is presently 36.04%.

Webster Financial announced that its Board of Directors has initiated a stock buyback program on Thursday, May 1st that permits the company to repurchase $700.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

WBS has been the subject of a number of recent research reports. Morgan Stanley cut 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. Royal Bank of Canada set a $60.00 target price on shares of Webster Financial and gave the company an "outperform" rating in a research report on Friday, April 25th. Raymond James decreased their price target on shares of Webster Financial from $65.00 to $58.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Wells Fargo & Company dropped their price target on shares of 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, Truist Financial assumed coverage on Webster Financial in a research note on Tuesday, May 13th. They issued a "buy" rating and a $61.00 price objective for the company. 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $63.75.

Insiders Place Their Bets

In other Webster Financial news, Director Lauren States sold 2,200 shares of the business's 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 sale, the director now owns 14,620 shares in the company, valued at $742,696. The trade was a 13.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Javier L. Evans sold 7,800 shares of the stock in a transaction dated 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 directly owns 19,820 shares of the company's stock, valued at $1,042,135.60. This trade represents a 28.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,000 shares of company stock worth $667,960 in the last three months. 0.54% of the stock is owned by company 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.