Webster Financial Co. (NYSE:WBS) Stock Position Reduced by Wellington Management Group LLP

Wellington Management Group LLP cut its stake in Webster Financial Co. (NYSE:WBS - Free Report) by 39.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 467,244 shares of the financial services provider's stock after selling 303,440 shares during the period. Wellington Management Group LLP owned 0.27% of Webster Financial worth $25,801,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Webster Financial by 1.2% in the 4th quarter. FMR LLC now owns 8,493,426 shares of the financial services provider's stock valued at $469,007,000 after purchasing an additional 99,908 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Webster Financial by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,620,818 shares of the financial services provider's stock valued at $365,601,000 after buying an additional 45,310 shares in the last quarter. Capital International Investors lifted its holdings in Webster Financial by 0.9% during the 4th quarter. Capital International Investors now owns 4,130,379 shares of the financial services provider's stock worth $228,000,000 after buying an additional 35,039 shares during the last quarter. Earnest Partners LLC grew its position in shares of Webster Financial by 3.8% in the 4th quarter. Earnest Partners LLC now owns 3,154,160 shares of the financial services provider's stock worth $174,173,000 after acquiring an additional 116,508 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Webster Financial by 4.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,948,701 shares of the financial services provider's stock valued at $162,828,000 after acquiring an additional 114,375 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Javier L. Evans sold 7,800 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $52.58, for a total value of $410,124.00. Following the completion of the sale, the insider now owns 19,820 shares in the company, valued at approximately $1,042,135.60. This represents a 28.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Bley sold 1,200 shares of Webster Financial stock in a transaction that occurred 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 transaction, the insider now owns 20,317 shares in the company, valued at approximately $1,015,240.49. The trade was a 5.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,000 shares of company stock worth $667,960. Insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on WBS shares. Jefferies Financial Group began coverage on shares of Webster Financial in a report on Wednesday, May 21st. They issued a "buy" rating and a $65.00 target price on the stock. Barclays cut their price objective on shares of Webster Financial from $80.00 to $72.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada set a $60.00 target price on shares of Webster Financial and gave the stock an "outperform" rating in a research report on Friday, April 25th. Truist Financial initiated coverage on shares of Webster Financial in a research note on Tuesday, May 13th. They issued a "buy" rating and a $61.00 price target on the stock. Finally, Wells Fargo & Company reduced their price objective on Webster Financial from $75.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Webster Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.75.

Webster Financial Price Performance

Webster Financial stock traded down $0.13 during midday trading on Monday, hitting $51.35. The company's stock had a trading volume of 1,437,172 shares, compared to its average volume of 1,277,525. Webster Financial Co. has a 12 month low of $39.34 and a 12 month high of $63.99. 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 market capitalization of $8.64 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 1.02 and a beta of 0.98. The stock's 50-day moving average price is $48.46 and its 200-day moving average price is $54.00.

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

Webster Financial declared that its board has authorized 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 purchase up to 8.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

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 given a dividend of $0.40 per share. The ex-dividend date was Monday, May 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.12%. Webster Financial's dividend payout ratio (DPR) is presently 36.04%.

About Webster Financial

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.