Y Intercept Hong Kong Ltd Decreases Stock Position in Webster Financial Corporation (NYSE:WBS)

Y Intercept Hong Kong Ltd reduced its position in shares of Webster Financial Corporation (NYSE:WBS - Free Report) by 86.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,670 shares of the financial services provider's stock after selling 29,130 shares during the period. Y Intercept Hong Kong Ltd's holdings in Webster Financial were worth $241,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. LPL Financial LLC increased its position in shares of Webster Financial by 28.7% during the fourth quarter. LPL Financial LLC now owns 70,155 shares of the financial services provider's stock worth $3,874,000 after purchasing an additional 15,627 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Webster Financial by 14.2% during the fourth quarter. JPMorgan Chase & Co. now owns 513,836 shares of the financial services provider's stock worth $28,374,000 after buying an additional 63,926 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Webster Financial by 4.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 23,494 shares of the financial services provider's stock worth $1,297,000 after buying an additional 933 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Webster Financial by 16.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,137 shares of the financial services provider's stock valued at $505,000 after buying an additional 1,316 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Webster Financial in the fourth quarter worth about $32,000. Institutional investors and hedge funds own 85.58% of the company's stock.

Webster Financial Trading Down 2.9%

Shares of NYSE WBS traded down $1.69 during mid-day trading on Friday, reaching $55.96. 1,447,858 shares of the company's stock were exchanged, compared to its average volume of 1,321,904. The company's 50-day moving average is $55.66 and its 200-day moving average is $53.52. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market capitalization of $9.41 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 0.54 and a beta of 1.00. Webster Financial Corporation has a 52-week low of $39.43 and a 52-week high of $63.99.

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

Webster Financial Announces Dividend

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

Webster Financial declared that its board has approved a stock buyback plan on Thursday, May 1st that allows the company to repurchase $700.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 8.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have commented on WBS. Raymond James Financial increased their price objective on shares of Webster Financial from $65.00 to $68.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Seaport Res Ptn lowered Webster Financial from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Barclays increased their price target on Webster Financial from $72.00 to $77.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Wells Fargo & Company boosted their price objective on Webster Financial from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Finally, Royal Bank Of Canada set a $60.00 target price on Webster Financial and gave the stock an "outperform" rating in a research note on Friday, April 25th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.77.

Insider Activity at Webster Financial

In related news, insider Charles L. Wilkins sold 5,000 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $53.25, for a total transaction of $266,250.00. Following the transaction, the insider owned 31,534 shares of the company's stock, valued at approximately $1,679,185.50. This represents a 13.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Javier L. Evans sold 7,800 shares of Webster Financial stock in a transaction dated 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 transaction, the insider directly owned 19,820 shares of the company's stock, valued at approximately $1,042,135.60. This represents a 28.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,838 shares of company stock valued at $2,318,109 over the last ninety days. 0.54% of the stock is owned by insiders.

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.