Cwm LLC Increases Holdings in Webster Financial Corporation (NYSE:WBS)

CWM LLC boosted its stake in Webster Financial Corporation (NYSE:WBS - Free Report) by 77.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,251 shares of the financial services provider's stock after buying an additional 6,228 shares during the period. CWM LLC's holdings in Webster Financial were worth $735,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Louisiana State Employees Retirement System lifted its holdings in Webster Financial by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 48,000 shares of the financial services provider's stock worth $2,474,000 after buying an additional 400 shares during the period. Ballentine Partners LLC purchased a new position in shares of Webster Financial during the first quarter valued at approximately $271,000. Xponance Inc. raised its holdings in Webster Financial by 2.2% in the 1st quarter. Xponance Inc. now owns 20,200 shares of the financial services provider's stock worth $1,041,000 after acquiring an additional 427 shares during the last quarter. State of Michigan Retirement System raised its holdings in Webster Financial by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 41,044 shares of the financial services provider's stock worth $2,116,000 after acquiring an additional 500 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in Webster Financial by 38.7% in the 1st quarter. Cerity Partners LLC now owns 12,288 shares of the financial services provider's stock worth $633,000 after acquiring an additional 3,430 shares during the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Webster Financial Price Performance

WBS stock traded down $0.31 during trading on Friday, reaching $59.91. The company's stock had a trading volume of 1,392,203 shares, compared to its average volume of 1,525,745. The company's fifty day moving average is $55.11 and its 200-day moving average is $53.40. Webster Financial Corporation has a 1 year low of $39.43 and a 1 year high of $63.99. The company has a market capitalization of $10.08 billion, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 0.56 and a beta of 1.00. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.47.

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

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Monday, May 12th. Webster Financial's dividend payout ratio (DPR) is presently 32.45%.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WBS. Raymond James Financial boosted their price objective on shares of Webster Financial from $65.00 to $68.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Wells Fargo & Company boosted their price objective on shares of Webster Financial from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Truist Financial restated a "buy" rating and issued a $67.00 price objective (up from $61.00) on shares of Webster Financial in a report on Friday, July 11th. Royal Bank Of Canada set a $60.00 price objective on shares of Webster Financial and gave the stock an "outperform" rating in a report on Friday, April 25th. Finally, Barclays lifted their target price on shares of Webster Financial from $72.00 to $77.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $66.77.

Insider Buying and Selling at Webster Financial

In other Webster Financial news, CAO Albert Jen-Wen Wang sold 3,250 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $60.31, for a total transaction of $196,007.50. Following the completion of the transaction, the chief accounting officer owned 15,755 shares of the company's stock, valued at $950,184.05. This represents a 17.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren States sold 2,200 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $50.80, for a total transaction of $111,760.00. Following the transaction, the director directly owned 14,620 shares of the company's stock, valued at $742,696. This trade represents a 13.08% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,815 shares of company stock worth $1,408,299. Insiders own 0.54% of the company's stock.

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.