Tidal Investments LLC Reduces Stock Position in Webster Financial Co. (NYSE:WBS)

Tidal Investments LLC trimmed its position in Webster Financial Co. (NYSE:WBS - Free Report) by 37.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Park Avenue Securities LLC purchased a new stake in Webster Financial in the fourth quarter worth $246,000. Proficio Capital Partners LLC bought a new position in Webster Financial during the fourth quarter valued at approximately $3,549,000. Charles Schwab Investment Management Inc. lifted its position in Webster Financial by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,507,655 shares of the financial services provider's stock valued at $83,253,000 after purchasing an additional 38,713 shares during the period. Barclays PLC lifted its position in Webster Financial by 36.4% during the third quarter. Barclays PLC now owns 297,834 shares of the financial services provider's stock valued at $13,883,000 after purchasing an additional 79,556 shares during the period. Finally, Lazard Asset Management LLC lifted its position in Webster Financial by 34.2% during the fourth quarter. Lazard Asset Management LLC now owns 18,647 shares of the financial services provider's stock valued at $1,028,000 after purchasing an additional 4,755 shares during the period. 85.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Webster Financial from $75.00 to $66.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Truist Financial began coverage on Webster Financial in a report on Tuesday, May 13th. They issued a "buy" rating and a $61.00 target price on the stock. Raymond James lowered their target price on Webster Financial from $65.00 to $58.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Jefferies Financial Group began coverage on Webster Financial in a report on Wednesday, May 21st. They issued a "buy" rating and a $65.00 target price on the stock. Finally, Keefe, Bruyette & Woods lowered their target price on Webster Financial from $70.00 to $65.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $63.75.

Webster Financial Stock Performance

Shares of WBS stock traded down $0.84 during trading hours on Wednesday, reaching $51.66. 957,840 shares of the company traded hands, compared to its average volume of 1,270,673. Webster Financial Co. has a 12-month low of $39.34 and a 12-month high of $63.99. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $8.69 billion, a P/E ratio of 11.82, a P/E/G ratio of 1.02 and a beta of 0.98. The firm has a 50-day moving average price of $48.50 and a 200 day moving average price of $54.21.

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

Webster Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Monday, May 12th. Webster Financial's dividend payout ratio (DPR) is presently 36.04%.

Webster Financial declared that its Board of Directors has approved a share buyback program on Thursday, May 1st that authorizes the company to repurchase $700.00 million in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 8.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Insider Activity at Webster Financial

In other news, Director Lauren States sold 2,200 shares of Webster Financial stock in a transaction that occurred on Thursday, May 22nd. The stock was 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 owns 14,620 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, insider Daniel Bley sold 1,800 shares of Webster Financial stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $47.84, for a total value of $86,112.00. Following the completion of the transaction, the insider now owns 21,517 shares of the company's stock, valued at approximately $1,029,373.28. This trade represents a 7.72% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,200 shares of company stock valued at $257,836. 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.