Webster Financial Co. (NYSE:WBS) Stake Boosted by Voloridge Investment Management LLC

Voloridge Investment Management LLC increased its position in Webster Financial Co. (NYSE:WBS - Free Report) by 53.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 764,881 shares of the financial services provider's stock after buying an additional 265,940 shares during the period. Voloridge Investment Management LLC owned about 0.45% of Webster Financial worth $42,237,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

WBS has been the subject of several recent analyst reports. Wells Fargo & Company lowered their price target on Webster Financial from $75.00 to $60.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Morgan Stanley dropped their price target on shares of 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. Jefferies Financial Group assumed coverage on shares of Webster Financial in a research note on Wednesday. They set a "buy" rating and a $65.00 price target on the stock. Royal Bank of Canada set a $60.00 price objective on shares of Webster Financial and gave the company an "outperform" rating in a research note on Friday, April 25th. Finally, Keefe, Bruyette & Woods cut their target price on Webster Financial from $70.00 to $65.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Webster Financial has a consensus rating of "Moderate Buy" and an average target price of $63.75.

Insider Transactions at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 1,800 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 21,517 shares in the company, valued at $1,029,373.28. This trade represents a 7.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren States sold 2,200 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were 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 directly owns 14,620 shares in the company, valued at approximately $742,696. The trade was a 13.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,200 shares of company stock valued at $257,836. 0.54% of the stock is currently owned by insiders.

Webster Financial Stock Down 0.2%

NYSE:WBS traded down $0.08 during mid-day trading on Friday, hitting $51.22. The company had a trading volume of 1,128,546 shares, compared to its average volume of 1,269,952. The business has a fifty day simple moving average of $48.49 and a 200-day simple moving average of $54.33. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.02 and a beta of 0.98. Webster Financial Co. has a 1 year low of $39.34 and a 1 year high of $63.99. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34.

Webster Financial (NYSE:WBS - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.08). The firm had revenue of $704.80 million during the quarter, compared to analyst estimates of $708.46 million. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. The firm's revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business earned $1.35 EPS. Equities analysts forecast that Webster Financial Co. will post 5.88 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend 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 presently 36.04%.

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