Focus Partners Wealth Sells 68,972 Shares of Webster Financial Co. (NYSE:WBS)

Focus Partners Wealth decreased its holdings in Webster Financial Co. (NYSE:WBS - Free Report) by 88.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,668 shares of the financial services provider's stock after selling 68,972 shares during the period. Focus Partners Wealth's holdings in Webster Financial were worth $479,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in WBS. Norges Bank purchased a new position in Webster Financial during the fourth quarter valued at approximately $120,497,000. Balyasny Asset Management L.P. boosted its stake in shares of Webster Financial by 1,253.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,120,914 shares of the financial services provider's stock valued at $61,897,000 after buying an additional 1,038,085 shares during the period. TimesSquare Capital Management LLC grew its holdings in shares of Webster Financial by 759.8% during the 4th quarter. TimesSquare Capital Management LLC now owns 823,280 shares of the financial services provider's stock valued at $45,462,000 after acquiring an additional 727,530 shares in the last quarter. FJ Capital Management LLC acquired a new position in shares of Webster Financial in the fourth quarter worth $29,177,000. Finally, Wealthfront Advisers LLC purchased a new stake in shares of Webster Financial during the fourth quarter worth $27,163,000. 85.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WBS has been the subject of a number of research reports. Morgan Stanley reduced their price objective 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. Barclays cut their price target on Webster Financial from $80.00 to $72.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. 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 research note on Wednesday, April 9th. Royal Bank of Canada set a $60.00 price objective on Webster Financial and gave the stock an "outperform" rating in a report on Friday, April 25th. Finally, Truist Financial began coverage on shares of Webster Financial in a research report on Tuesday, May 13th. They set a "buy" rating and a $61.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Webster Financial has an average rating of "Moderate Buy" and an average price target of $63.75.

Insider Buying and Selling at Webster Financial

In related news, Director Lauren States sold 2,200 shares of the business's 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 directly 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 this hyperlink. Also, insider Daniel Bley sold 1,800 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The shares were 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 of the company's stock, valued at $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 sold 5,200 shares of company stock worth $257,836. Insiders own 0.54% of the company's stock.

Webster Financial Trading Down 0.2%

Webster Financial stock traded down $0.08 during mid-day trading on Friday, hitting $51.22. The stock had a trading volume of 1,128,546 shares, compared to its average volume of 1,269,952. The stock has a 50-day simple moving average of $48.49 and a two-hundred day simple moving average of $54.33. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $8.62 billion, a PE ratio of 11.72, a P/E/G ratio of 1.02 and a beta of 0.98. 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 released its earnings results 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 net margin of 18.39% and a return on equity of 10.82%. The business had revenue of $704.80 million for the quarter, compared to analyst estimates of $708.46 million. During the same quarter in the previous year, the company posted $1.35 earnings per share. The business's revenue for the quarter was up 5.7% on a year-over-year basis. As a group, sell-side analysts forecast that Webster Financial Co. will post 5.88 EPS for the current year.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders 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 dividend on an annualized basis and a yield of 3.12%. Webster Financial's payout ratio is presently 36.04%.

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

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.