Voloridge Investment Management LLC Acquires 265,940 Shares of Webster Financial Co. (NYSE:WBS)

Voloridge Investment Management LLC grew its position in Webster Financial Co. (NYSE:WBS - Free Report) by 53.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 764,881 shares of the financial services provider's stock after purchasing an additional 265,940 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.45% of Webster Financial worth $42,237,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Skandinaviska Enskilda Banken AB publ acquired a new position in Webster Financial in the 4th quarter valued at $26,000. Headlands Technologies LLC bought a new stake in Webster Financial during the fourth quarter valued at about $32,000. R Squared Ltd acquired a new stake in shares of Webster Financial in the fourth quarter valued at about $43,000. Spurstone Advisory Services LLC acquired a new stake in shares of Webster Financial in the fourth quarter valued at about $61,000. Finally, UMB Bank n.a. increased its stake in shares of Webster Financial by 88.1% in the fourth quarter. UMB Bank n.a. now owns 1,119 shares of the financial services provider's stock worth $62,000 after purchasing an additional 524 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on WBS shares. Wells Fargo & Company decreased their target price on Webster Financial from $75.00 to $60.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Jefferies Financial Group started coverage on Webster Financial in a research report on Wednesday, May 21st. They issued a "buy" rating and a $65.00 price target on the stock. Truist Financial initiated coverage on Webster Financial in a report on Tuesday, May 13th. They set a "buy" rating and a $61.00 price target for the company. Royal Bank of Canada set a $60.00 price objective on shares of Webster Financial and gave the stock an "outperform" rating in a research note on Friday, April 25th. Finally, Barclays cut their target price on shares of Webster Financial from $80.00 to $72.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Three investment 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $63.75.

Insider Activity

In other Webster Financial news, insider Daniel Bley sold 1,200 shares of Webster Financial stock in a transaction on Monday, May 5th. The stock was sold at an average price of $49.97, for a total transaction of $59,964.00. Following the completion of the transaction, the insider now directly owns 20,317 shares of the company's stock, valued at approximately $1,015,240.49. This trade represents a 5.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $111,760.00. Following the completion of the sale, the director now owns 14,620 shares in the company, valued at $742,696. This represents a 13.08% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,200 shares of company stock worth $257,836. Company insiders own 0.54% of the company's stock.

Webster Financial Stock Performance

Webster Financial stock traded down $0.08 on Monday, hitting $51.22. The company's stock had a trading volume of 1,128,546 shares, compared to its average volume of 1,271,736. Webster Financial Co. has a one year low of $39.34 and a one year high of $63.99. The firm has a market cap of $8.62 billion, a P/E ratio of 11.72, a price-to-earnings-growth 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 company has a fifty day moving average price of $48.49 and a 200-day moving average price of $54.27.

Webster Financial (NYSE:WBS - Get Free Report) last posted its earnings results 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 business had revenue of $704.80 million during the quarter, compared to the consensus estimate of $708.46 million. During the same period in the previous year, the firm earned $1.35 EPS. The business's revenue was up 5.7% compared to the same quarter last year. On average, equities analysts anticipate that Webster Financial Co. will post 5.88 earnings per share for the current year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th were paid a $0.40 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.60 annualized dividend and a dividend yield of 3.12%. Webster Financial's dividend payout ratio is currently 36.04%.

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

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.