Rafferty Asset Management LLC Has $12.20 Million Stock Position in Webster Financial Co. (NYSE:WBS)

Rafferty Asset Management LLC trimmed its holdings in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 26.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 220,945 shares of the financial services provider's stock after selling 78,892 shares during the period. Rafferty Asset Management LLC owned about 0.13% of Webster Financial worth $12,201,000 as of its most recent SEC filing.

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

Webster Financial Stock Up 1.1%

Shares of WBS traded up $0.56 during midday trading on Thursday, reaching $51.35. 467,072 shares of the stock were exchanged, compared to its average volume of 1,261,936. The company has a market cap of $8.64 billion, a price-to-earnings ratio of 11.74, a P/E/G ratio of 1.02 and a beta of 0.98. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.34. Webster Financial Co. has a 12-month low of $39.34 and a 12-month high of $63.99. The firm has a 50 day simple moving average of $48.48 and a 200-day simple moving average of $54.32.

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

Webster Financial declared that its Board of Directors has approved a share buyback 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 often an indication that the company's board believes its stock is undervalued.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Monday, May 12th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Monday, May 12th. Webster Financial's payout ratio is presently 36.04%.

Insider Activity at Webster Financial

In other Webster Financial news, insider Daniel Bley sold 1,800 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $47.84, for a total transaction of $86,112.00. Following the transaction, the insider now directly owns 21,517 shares in the company, valued at $1,029,373.28. This trade represents a 7.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

WBS has been the subject of several recent analyst reports. Barclays decreased their target price on shares of 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 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. Royal Bank of Canada set a $60.00 price objective 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 target price on Webster Financial from $75.00 to $60.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Finally, Raymond James decreased their target price on 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, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Webster Financial presently has an average rating of "Moderate Buy" and a consensus price target of $63.75.

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.