Webster Financial Co. (NYSE:WBS) is Systematic Financial Management LP's 7th Largest Position

Systematic Financial Management LP increased its position in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 995,815 shares of the financial services provider's stock after purchasing an additional 35,432 shares during the quarter. Webster Financial accounts for approximately 1.4% of Systematic Financial Management LP's investment portfolio, making the stock its 7th largest position. Systematic Financial Management LP owned 0.58% of Webster Financial worth $54,989,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. HighTower Advisors LLC grew its holdings in shares of Webster Financial by 0.6% during the 4th quarter. HighTower Advisors LLC now owns 32,155 shares of the financial services provider's stock valued at $1,776,000 after purchasing an additional 177 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Webster Financial by 0.9% during the fourth quarter. Sanctuary Advisors LLC now owns 19,336 shares of the financial services provider's stock worth $1,163,000 after buying an additional 178 shares during the last quarter. Kovitz Investment Group Partners LLC increased its holdings in shares of Webster Financial by 3.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,912 shares of the financial services provider's stock worth $326,000 after buying an additional 186 shares in the last quarter. Cardinal Capital Management lifted its stake in shares of Webster Financial by 0.4% in the 4th quarter. Cardinal Capital Management now owns 49,983 shares of the financial services provider's stock valued at $2,760,000 after acquiring an additional 189 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Webster Financial by 2.8% during the 4th quarter. US Bancorp DE now owns 7,143 shares of the financial services provider's stock valued at $394,000 after acquiring an additional 192 shares in the last quarter. Institutional investors own 85.58% of the company's stock.

Insiders Place Their Bets

In related news, insider Daniel Bley sold 1,800 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $47.84, for a total value of $86,112.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $57.43, for a total transaction of $459,440.00. Following the transaction, the chief executive officer now directly owns 210,051 shares of the company's stock, valued at approximately $12,063,228.93. This trade represents a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,217 shares of company stock worth $1,386,244. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Truist Financial began coverage on Webster Financial in a research report on Tuesday, May 13th. They issued a "buy" rating and a $61.00 target price for the company. Royal Bank of Canada set a $60.00 price objective on shares of Webster Financial and gave the company an "outperform" rating in a report on Friday, April 25th. Raymond James dropped their price objective on shares of Webster Financial from $65.00 to $58.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Wells Fargo & Company dropped their price objective on shares of Webster Financial from $75.00 to $60.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Webster Financial from $70.00 to $65.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Webster Financial presently has a consensus rating of "Moderate Buy" and an average price target of $62.58.

Webster Financial Trading Down 0.8%

Shares of Webster Financial stock traded down $0.42 during trading on Monday, reaching $52.48. The company's stock had a trading volume of 1,026,080 shares, compared to its average volume of 1,255,817. Webster Financial Co. has a 52-week low of $39.34 and a 52-week high of $63.99. The company has a market cap of $8.83 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.02 and a beta of 0.98. The firm's 50-day moving average is $48.39 and its two-hundred day moving average is $54.36. 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 (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 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 firm had revenue of $704.80 million for the quarter, compared to analysts' expectations of $708.46 million. During the same period in the previous year, the company earned $1.35 EPS. The company's quarterly revenue was up 5.7% on a year-over-year basis. On average, 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 share repurchase plan on Thursday, May 1st that allows the company to buyback $700.00 million in shares. This buyback authorization allows the financial services provider to repurchase up to 8.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th will be issued a $0.40 dividend. The ex-dividend date of this dividend 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%.

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.