Webster Financial Corporation (NYSE:WBS) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lowered its position in Webster Financial Corporation (NYSE:WBS - Free Report) by 86.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,670 shares of the financial services provider's stock after selling 29,130 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Webster Financial were worth $241,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WBS. Kovitz Investment Group Partners LLC grew its stake in shares of Webster Financial by 3.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,912 shares of the financial services provider's stock valued at $326,000 after buying an additional 186 shares during the period. Penbrook Management LLC boosted its holdings in Webster Financial by 5.2% in the first quarter. Penbrook Management LLC now owns 5,080 shares of the financial services provider's stock valued at $262,000 after acquiring an additional 250 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Webster Financial by 1.2% in the fourth quarter. Cetera Investment Advisers now owns 21,299 shares of the financial services provider's stock valued at $1,176,000 after acquiring an additional 259 shares during the last quarter. Beverly Hills Private Wealth LLC grew its position in Webster Financial by 4.5% during the first quarter. Beverly Hills Private Wealth LLC now owns 6,058 shares of the financial services provider's stock valued at $312,000 after acquiring an additional 262 shares during the period. Finally, Allworth Financial LP increased its stake in Webster Financial by 43.7% during the first quarter. Allworth Financial LP now owns 941 shares of the financial services provider's stock worth $45,000 after acquiring an additional 286 shares during the last quarter. Institutional investors and hedge funds own 85.58% of the company's stock.

Wall Street Analyst Weigh In

WBS has been the topic of several research analyst reports. Barclays lifted their price objective on Webster Financial from $72.00 to $77.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. raised their price target on shares of Webster Financial from $55.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Jefferies Financial Group assumed coverage on shares of Webster Financial in a research note on Wednesday, May 21st. They set a "buy" rating and a $65.00 price objective for the company. Raymond James Financial increased their price objective on shares of Webster Financial from $65.00 to $68.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Finally, UBS Group restated a "buy" rating and set a $69.00 target price on shares of Webster Financial in a report on Wednesday, July 9th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.77.

Insiders Place Their Bets

In related news, Director William L. Atwell sold 16,823 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $59.20, for a total transaction of $995,921.60. Following the sale, the director directly owned 30,915 shares of the company's stock, valued at approximately $1,830,168. This represents a 35.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Albert Jen-Wen Wang sold 3,250 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $60.31, for a total value of $196,007.50. Following the transaction, the chief accounting officer owned 15,755 shares in the company, valued at $950,184.05. This trade represents a 17.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,838 shares of company stock valued at $2,318,109. 0.54% of the stock is owned by company insiders.

Webster Financial Stock Down 2.9%

Shares of WBS traded down $1.69 during trading on Friday, reaching $55.96. The company's stock had a trading volume of 1,447,858 shares, compared to its average volume of 1,470,211. The company has a market cap of $9.41 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 0.52 and a beta of 1.04. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average of $55.75 and a two-hundred day moving average of $53.48. Webster Financial Corporation has a twelve month low of $39.43 and a twelve month high of $63.99.

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

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Monday, August 11th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, August 11th. Webster Financial's dividend payout ratio (DPR) is 32.45%.

Webster Financial announced that its board has authorized a stock repurchase program 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 buy up to 8.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

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.