Webster Financial Co. (NYSE:WBS) Stake Boosted by Systematic Financial Management LP

Systematic Financial Management LP grew its holdings in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 3.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 995,815 shares of the financial services provider's stock after purchasing an additional 35,432 shares during the period. Webster Financial makes up approximately 1.4% of Systematic Financial Management LP's holdings, making the stock its 7th largest position. Systematic Financial Management LP owned approximately 0.58% of Webster Financial worth $54,989,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in WBS. HighTower Advisors LLC increased its position in 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 buying an additional 177 shares in the last quarter. Sanctuary Advisors LLC increased its holdings 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 valued at $1,163,000 after acquiring an additional 178 shares in the last quarter. Kovitz Investment Group Partners LLC raised its position in shares of Webster Financial by 3.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,912 shares of the financial services provider's stock worth $326,000 after purchasing an additional 186 shares during the last quarter. Cardinal Capital Management boosted its stake in Webster Financial by 0.4% in the 4th quarter. Cardinal Capital Management now owns 49,983 shares of the financial services provider's stock worth $2,760,000 after purchasing an additional 189 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Webster Financial by 2.8% in the 4th quarter. US Bancorp DE now owns 7,143 shares of the financial services provider's stock worth $394,000 after purchasing an additional 192 shares in the last quarter. 85.58% of the stock is owned by institutional investors.

Webster Financial Stock Performance

Webster Financial stock traded up $0.46 during mid-day trading on Thursday, reaching $51.25. 579,243 shares of the stock traded hands, compared to its average volume of 1,262,318. The stock has a market capitalization of $8.62 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 1.02 and a beta of 0.98. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84. The business's 50-day moving average is $48.48 and its 200-day moving average is $54.32. 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 issued its quarterly earnings data 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 business had revenue of $704.80 million during the quarter, compared to the consensus estimate of $708.46 million. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. Webster Financial's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the company earned $1.35 EPS. As a group, sell-side analysts predict that Webster Financial Co. will post 5.88 EPS for the current fiscal year.

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

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th will be paid a dividend of $0.40 per share. 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 dividend payout ratio is presently 36.04%.

Insider Activity

In related news, insider Daniel Bley sold 1,200 shares of Webster Financial stock in a transaction on Monday, May 5th. The stock was sold at an average price of $49.97, for a total transaction of $59,964.00. Following the transaction, the insider now directly owns 20,317 shares in the company, valued at approximately $1,015,240.49. The trade was a 5.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Jefferies Financial Group started coverage on shares of Webster Financial in a report on Wednesday. They issued a "buy" rating and a $65.00 target price for the company. 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. Royal Bank of Canada set a $60.00 price objective on Webster Financial and gave the company an "outperform" rating in a research report on Friday, April 25th. Truist Financial started coverage on Webster Financial in a research note on Tuesday, May 13th. They set a "buy" rating and a $61.00 target price on the stock. Finally, Raymond James decreased their price target on Webster Financial from $65.00 to $58.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Webster Financial has an average rating of "Moderate Buy" and an average target price of $63.75.

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.