Webster Financial Corporation (NYSE:WBS) Stock Holdings Decreased by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. decreased its holdings in Webster Financial Corporation by 0.7%, owning approximately 17.88 million shares valued at ~$921.98 million.
• Webster Financial recently announced a quarterly dividend of $0.40 per share, reflecting an annualized yield of 2.9%.
• Analysts have raised price targets for Webster Financial, with estimates ranging from $60.00 to $77.00, reflecting a consensus average target price of $66.77.

Vanguard Group Inc. lessened its stake in Webster Financial Corporation (NYSE:WBS - Free Report) by 0.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 17,885,229 shares of the financial services provider's stock after selling 130,081 shares during the period. Vanguard Group Inc. owned about 10.63% of Webster Financial worth $921,984,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WBS. Bank of Nova Scotia acquired a new position in shares of Webster Financial during the first quarter worth $1,169,000. US Bancorp DE grew its stake in shares of Webster Financial by 6.3% during the first quarter. US Bancorp DE now owns 7,596 shares of the financial services provider's stock worth $392,000 after purchasing an additional 453 shares in the last quarter. BCGM Wealth Management LLC grew its stake in shares of Webster Financial by 8.2% during the first quarter. BCGM Wealth Management LLC now owns 15,975 shares of the financial services provider's stock worth $823,000 after purchasing an additional 1,214 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Webster Financial by 8.6% during the first quarter. Natixis Advisors LLC now owns 296,796 shares of the financial services provider's stock worth $15,300,000 after purchasing an additional 23,529 shares in the last quarter. Finally, Bayforest Capital Ltd grew its stake in shares of Webster Financial by 59.6% during the first quarter. Bayforest Capital Ltd now owns 1,974 shares of the financial services provider's stock worth $102,000 after purchasing an additional 737 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company's stock.

Insider Buying and Selling

In other Webster Financial news, insider Charles L. Wilkins sold 5,000 shares of Webster Financial stock in a transaction on Friday, June 6th. The shares were sold at an average price of $53.25, for a total value of $266,250.00. Following the transaction, the insider owned 31,534 shares in the company, valued at $1,679,185.50. This trade represents a 13.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jason A. Soto sold 2,500 shares of Webster Financial stock in a transaction on Monday, July 21st. The shares were sold at an average price of $61.21, for a total transaction of $153,025.00. Following the transaction, the insider owned 18,889 shares in the company, valued at $1,156,195.69. The trade was a 11.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,638 shares of company stock worth $2,258,145 over the last 90 days. Company insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Webster Financial from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods boosted their target price on shares of Webster Financial from $65.00 to $68.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Barclays lifted their price objective on Webster Financial from $72.00 to $77.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. UBS Group reaffirmed a "buy" rating and issued a $69.00 price objective on shares of Webster Financial in a report on Wednesday, July 9th. Finally, Seaport Res Ptn lowered Webster Financial from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Webster Financial presently has an average rating of "Moderate Buy" and a consensus target price of $66.77.

Webster Financial Trading Down 1.3%

NYSE WBS traded down $0.75 during mid-day trading on Friday, reaching $57.69. 505,446 shares of the stock were exchanged, compared to its average volume of 1,309,311. Webster Financial Corporation has a 1-year low of $39.43 and a 1-year high of $63.99. The business's fifty day simple moving average is $56.62 and its 200 day simple moving average is $53.37. The stock has a market capitalization of $9.59 billion, a PE ratio of 11.70, a PEG ratio of 0.53 and a beta of 1.04. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.85 and a current ratio of 0.86.

Webster Financial (NYSE:WBS - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.09. The company had revenue of $715.80 million for the quarter, compared to analyst estimates of $716.59 million. Webster Financial had a net margin of 20.06% and a return on equity of 10.84%. Webster Financial's revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter last year, the business earned $1.26 EPS. On average, research analysts anticipate that Webster Financial Corporation will post 5.88 earnings per share for the current fiscal year.

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

Webster Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Monday, August 11th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, August 11th. Webster Financial's dividend payout ratio (DPR) is 32.45%.

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.