Tidal Investments LLC Sells 11,990 Shares of Webster Financial Co. (NYSE:WBS)

Tidal Investments LLC cut its holdings in Webster Financial Co. (NYSE:WBS - Free Report) by 37.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,609 shares of the financial services provider's stock after selling 11,990 shares during the period. Tidal Investments LLC's holdings in Webster Financial were worth $1,083,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WBS. Norges Bank bought a new stake in shares of Webster Financial in the 4th quarter valued at about $120,497,000. Balyasny Asset Management L.P. increased its stake in Webster Financial by 1,253.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,120,914 shares of the financial services provider's stock worth $61,897,000 after purchasing an additional 1,038,085 shares during the period. Millennium Management LLC lifted its position in Webster Financial by 43.0% in the fourth quarter. Millennium Management LLC now owns 2,547,225 shares of the financial services provider's stock valued at $140,658,000 after purchasing an additional 766,019 shares during the last quarter. TimesSquare Capital Management LLC boosted its stake in shares of Webster Financial by 759.8% during the fourth quarter. TimesSquare Capital Management LLC now owns 823,280 shares of the financial services provider's stock valued at $45,462,000 after purchasing an additional 727,530 shares during the period. Finally, FJ Capital Management LLC bought a new position in shares of Webster Financial in the fourth quarter worth approximately $29,177,000. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Webster Financial news, insider Daniel Bley sold 1,800 shares of Webster Financial stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $47.84, for a total transaction of $86,112.00. Following the completion of the transaction, the insider now owns 21,517 shares in the company, valued at approximately $1,029,373.28. The trade was a 7.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Javier L. Evans sold 7,800 shares of the stock in a transaction 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 in the company, valued at approximately $1,042,135.60. This represents a 28.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,000 shares of company stock valued at $667,960 over the last quarter. Corporate insiders own 0.54% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Webster Financial from $70.00 to $65.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Truist Financial started coverage on shares of Webster Financial in a research note on Tuesday, May 13th. They set a "buy" rating and a $61.00 price objective for the company. Wells Fargo & Company cut their target price 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. Morgan Stanley lowered their price target on Webster Financial from $75.00 to $66.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Finally, Barclays dropped their price objective on Webster Financial from $80.00 to $72.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.75.

Webster Financial Stock Down 1.9%

Shares of NYSE:WBS traded down $0.97 during trading on Friday, hitting $51.13. The stock had a trading volume of 304,592 shares, compared to its average volume of 1,269,811. The company has a market capitalization of $8.60 billion, a PE ratio of 11.72, a PEG ratio of 1.02 and a beta of 0.98. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.34. The firm's fifty day moving average is $48.48 and its 200 day moving average is $54.14. Webster Financial Co. has a 12 month low of $39.34 and a 12 month high of $63.99.

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 analysts' consensus estimates 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 last year, the company posted $1.35 EPS. Webster Financial's revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts anticipate that Webster Financial Co. will post 5.88 EPS for the current fiscal year.

Webster Financial declared that its Board of Directors has initiated a share 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 buy up to 8.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors 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 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 3.13%. Webster Financial's dividend payout ratio (DPR) is currently 36.04%.

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.