Interval Partners LP Sells 28,141 Shares of Webster Financial Co. (NYSE:WBS)

Interval Partners LP decreased its position in Webster Financial Co. (NYSE:WBS - Free Report) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 396,436 shares of the financial services provider's stock after selling 28,141 shares during the quarter. Interval Partners LP owned approximately 0.23% of Webster Financial worth $21,891,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of WBS. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Webster Financial during the 4th quarter valued at about $26,000. Headlands Technologies LLC bought a new stake in shares of Webster Financial during the 4th quarter valued at about $32,000. R Squared Ltd bought a new stake in shares of Webster Financial during the 4th quarter valued at about $43,000. UMB Bank n.a. boosted its stake in shares of Webster Financial by 88.1% during the 4th quarter. UMB Bank n.a. now owns 1,119 shares of the financial services provider's stock valued at $62,000 after purchasing an additional 524 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd boosted its stake in Webster Financial by 742.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,264 shares of the financial services provider's stock worth $70,000 after acquiring an additional 1,114 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company's stock.

Wall Street Analyst Weigh In

WBS has been the topic of several research reports. Wells Fargo & Company dropped their price objective on shares of Webster Financial from $75.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Truist Financial initiated coverage on shares of Webster Financial in a research note on Tuesday. They set a "buy" rating and a $61.00 price objective on the stock. Barclays dropped 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 note on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their price objective on shares of Webster Financial from $70.00 to $65.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Finally, Raymond James dropped their price objective on shares of Webster Financial from $65.00 to $58.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.58.

Webster Financial Price Performance

Shares of NYSE WBS traded up $0.29 during midday trading on Wednesday, reaching $53.17. The stock had a trading volume of 129,305 shares, compared to its average volume of 1,249,601. The stock has a 50-day moving average of $48.11 and a 200-day moving average of $54.31. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $8.95 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 1.02 and a beta of 0.98. Webster Financial Co. has a 12-month low of $39.34 and a 12-month high of $63.99.

Webster Financial (NYSE:WBS - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.08). The company had revenue of $704.80 million for the quarter, compared to analysts' expectations 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 was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.35 earnings per share. As a group, research analysts anticipate that Webster Financial Co. will post 5.88 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Monday, May 12th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, May 12th. This represents a $1.60 annualized dividend and a yield of 3.01%. Webster Financial's payout ratio is 36.04%.

Webster Financial announced that its board has initiated a stock buyback program on Thursday, May 1st that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 8.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other Webster Financial news, insider Daniel Bley sold 1,200 shares of Webster Financial stock in a transaction on Monday, May 5th. The shares were sold at an average price of $49.97, for a total value of $59,964.00. Following the completion of the transaction, the insider now directly owns 20,317 shares of the company's stock, valued at $1,015,240.49. This trade represents a 5.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $57.43, for a total transaction of $459,440.00. Following the completion of the transaction, the chief executive officer now directly owns 210,051 shares of the company's stock, valued at $12,063,228.93. The trade was a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,217 shares of company stock valued at $1,386,244 in the last three months. Corporate insiders own 0.54% of the company's stock.

Webster Financial Company 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.