Webster Financial Corporation (NYSE:WBS) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its stake in Webster Financial Corporation (NYSE:WBS - Free Report) by 1.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 332,100 shares of the financial services provider's stock after selling 5,000 shares during the period. Swiss National Bank owned 0.20% of Webster Financial worth $17,120,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in shares of Webster Financial by 0.7% in the 4th 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 increased its stake in Webster Financial by 0.9% in the 4th quarter. Capital International Investors now owns 4,130,379 shares of the financial services provider's stock worth $228,000,000 after buying an additional 35,039 shares in the last quarter. Earnest Partners LLC grew its position in shares of Webster Financial by 3.8% during 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 purchasing an additional 116,508 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Webster Financial by 4.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,948,701 shares of the financial services provider's stock worth $162,828,000 after acquiring an additional 114,375 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Webster Financial by 3.9% during the 4th quarter. Bank of America Corp DE now owns 2,641,766 shares of the financial services provider's stock worth $145,878,000 after acquiring an additional 99,586 shares in the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WBS has been the subject of a number of analyst reports. Royal Bank Of Canada set a $60.00 price target on shares of Webster Financial and gave the company an "outperform" rating in a report on Friday, April 25th. Jefferies Financial Group began coverage on shares of Webster Financial in a research note on Wednesday, May 21st. They set a "buy" rating and a $65.00 price target for the company. Citigroup lifted their price target on shares of Webster Financial from $65.00 to $71.00 and gave the company a "buy" rating in a research note on Friday, July 18th. UBS Group reaffirmed a "buy" rating and set a $69.00 price target on shares of Webster Financial in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company lifted their price objective on shares of Webster Financial from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $66.77.

Webster Financial Stock Down 1.4%

WBS stock traded down $0.84 during midday trading on Friday, hitting $57.59. The company's stock had a trading volume of 1,227,626 shares, compared to its average volume of 1,366,866. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.47. Webster Financial Corporation has a 52-week low of $39.43 and a 52-week high of $63.99. The firm has a market capitalization of $9.57 billion, a P/E ratio of 11.68, a PEG ratio of 0.53 and a beta of 1.04. The firm has a 50-day simple moving average of $56.69 and a 200-day simple moving average of $53.31.

Webster Financial (NYSE:WBS - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.52 EPS for the quarter, beating the consensus estimate of $1.43 by $0.09. Webster Financial had a net margin of 20.06% and a return on equity of 10.84%. The company had revenue of $715.80 million during the quarter, compared to analysts' expectations of $716.59 million. During the same quarter last year, the company posted $1.26 EPS. The firm's revenue was up 16.5% compared to the same quarter last year. As a group, equities analysts forecast that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Monday, August 11th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $1.60 annualized dividend and a dividend yield of 2.8%. Webster Financial's payout ratio is presently 32.45%.

Webster Financial announced that its board has initiated a stock repurchase program on Thursday, May 1st that allows the company to repurchase $700.00 million in shares. This repurchase authorization allows the financial services provider to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Jason A. Soto sold 2,500 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $61.21, for a total transaction of $153,025.00. Following the sale, the insider owned 18,889 shares of the company's stock, valued at approximately $1,156,195.69. The trade was a 11.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Albert Jen-Wen Wang sold 3,250 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $60.31, for a total transaction of $196,007.50. Following the sale, the chief accounting officer directly owned 15,755 shares in the company, valued at approximately $950,184.05. This represents a 17.10% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,638 shares of company stock valued at $2,721,745. Corporate insiders own 0.54% of the company's stock.

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.