FJ Capital Management LLC Buys New Position in Webster Financial Co. (NYSE:WBS)

FJ Capital Management LLC purchased a new stake in Webster Financial Co. (NYSE:WBS - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 528,385 shares of the financial services provider's stock, valued at approximately $29,177,000. Webster Financial makes up 3.4% of FJ Capital Management LLC's holdings, making the stock its 7th largest holding. FJ Capital Management LLC owned 0.31% of Webster Financial at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Hennion & Walsh Asset Management Inc. acquired a new stake in Webster Financial in the fourth quarter worth about $269,000. Park Avenue Securities LLC acquired a new stake in Webster Financial in the fourth quarter worth about $246,000. Proficio Capital Partners LLC acquired a new stake in Webster Financial in the fourth quarter worth about $3,549,000. Charles Schwab Investment Management Inc. boosted its holdings in Webster Financial by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,507,655 shares of the financial services provider's stock worth $83,253,000 after acquiring an additional 38,713 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Webster Financial by 36.4% in the third quarter. Barclays PLC now owns 297,834 shares of the financial services provider's stock worth $13,883,000 after acquiring an additional 79,556 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors.

Webster Financial Stock Down 0.6%

WBS stock traded down $0.30 during trading on Friday, hitting $49.86. 540,934 shares of the company's stock were exchanged, compared to its average volume of 1,252,726. The business has a 50-day moving average price of $48.09 and a two-hundred day moving average price of $54.31. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 1.02 and a beta of 0.98. Webster Financial Co. has a 52-week low of $39.34 and a 52-week high of $63.99. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34.

Webster Financial (NYSE:WBS - Get Free Report) last announced its quarterly 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). The business had revenue of $704.80 million during the quarter, compared to analyst estimates of $708.46 million. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the company earned $1.35 earnings per share. As a group, equities research analysts expect that Webster Financial Co. will post 5.88 EPS for the current year.

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

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Monday, May 12th. Webster Financial's dividend payout ratio is currently 36.04%.

Insider Buying and Selling at Webster Financial

In related news, Director Laurence C. Morse sold 13,217 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $59.07, for a total value of $780,728.19. Following the sale, the director now directly owns 18,808 shares of the company's stock, valued at approximately $1,110,988.56. This represents a 41.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Bley sold 1,200 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $49.97, for a total transaction of $59,964.00. Following the completion of the sale, the insider now owns 20,317 shares in the company, valued at $1,015,240.49. This represents a 5.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,217 shares of company stock worth $1,386,244. 0.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WBS. Royal Bank of Canada set a $60.00 price target on shares of Webster Financial and gave the stock an "outperform" rating in a research report on Friday, April 25th. Wells Fargo & Company reduced their price target on shares of Webster Financial from $75.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. StockNews.com raised shares of Webster Financial from a "sell" rating to a "hold" rating in a research report on Saturday, January 11th. Morgan Stanley reduced their price target on shares of 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. Finally, Raymond James reduced their price target on shares of Webster Financial from $65.00 to $58.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $62.73.

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.