NorthRock Partners LLC Takes Position in Webster Financial Co. (NYSE:WBS)

NorthRock Partners LLC purchased a new stake in Webster Financial Co. (NYSE:WBS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,605 shares of the financial services provider's stock, valued at approximately $530,000.

Several other institutional investors have also bought and sold shares of the stock. Barclays PLC lifted its stake in shares of Webster Financial by 36.4% during the third quarter. Barclays PLC now owns 297,834 shares of the financial services provider's stock valued at $13,883,000 after acquiring an additional 79,556 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Webster Financial by 3.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,684 shares of the financial services provider's stock valued at $535,000 after acquiring an additional 279 shares during the period. Brookstone Capital Management acquired a new position in shares of Webster Financial during the fourth quarter valued at $298,000. Assenagon Asset Management S.A. lifted its stake in shares of Webster Financial by 4.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 498,465 shares of the financial services provider's stock valued at $27,525,000 after acquiring an additional 23,328 shares during the period. Finally, Park Avenue Securities LLC acquired a new position in shares of Webster Financial during the fourth quarter valued at $246,000. Institutional investors and hedge funds own 85.58% of the company's stock.

Insider Activity

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the firm's 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 transaction, the chief executive officer now owns 210,051 shares in the company, valued at $12,063,228.93. This trade represents a 3.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Laurence C. Morse sold 13,217 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $59.07, for a total value of $780,728.19. Following the transaction, the director now owns 18,808 shares in the company, valued at approximately $1,110,988.56. This trade represents a 41.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,217 shares of company stock valued at $1,386,244 over the last three months. Insiders own 0.54% of the company's stock.

Webster Financial Stock Down 0.8%

NYSE WBS traded down $0.42 during trading hours on Monday, hitting $52.48. 1,026,080 shares of the company traded hands, compared to its average volume of 1,255,817. The business's 50-day moving average is $48.39 and its 200-day moving average is $54.36. Webster Financial Co. has a twelve month low of $39.34 and a twelve month high of $63.99. 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 stock has a market capitalization of $8.83 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 1.02 and a beta of 0.98.

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

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

Webster Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Monday, May 12th will be given 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 3.05%. Webster Financial's dividend payout ratio (DPR) is presently 36.04%.

Analysts Set New Price Targets

A number of research firms recently commented on WBS. Barclays dropped their price objective on Webster Financial from $80.00 to $72.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Morgan Stanley dropped their price objective on Webster Financial from $75.00 to $66.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Truist Financial began coverage on Webster Financial in a report on Tuesday, May 13th. They issued a "buy" rating and a $61.00 price target for the company. Keefe, Bruyette & Woods lowered their price target on Webster Financial from $70.00 to $65.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Finally, Raymond James lowered their price target on Webster Financial from $65.00 to $58.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Webster Financial currently has an average rating of "Moderate Buy" and a consensus target price of $62.58.

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.