Frontier Capital Management Co. LLC Sells 5,855 Shares of Webster Financial Co. (NYSE:WBS)

Frontier Capital Management Co. LLC cut its holdings in Webster Financial Co. (NYSE:WBS - Free Report) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 761,630 shares of the financial services provider's stock after selling 5,855 shares during the quarter. Frontier Capital Management Co. LLC owned 0.44% of Webster Financial worth $42,057,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of WBS. Barclays PLC raised its holdings in shares of Webster Financial by 36.4% in the 3rd quarter. Barclays PLC now owns 297,834 shares of the financial services provider's stock valued at $13,883,000 after purchasing an additional 79,556 shares in the last quarter. GAMMA Investing LLC grew its holdings in Webster Financial by 14.8% in the fourth quarter. GAMMA Investing LLC now owns 2,045 shares of the financial services provider's stock valued at $113,000 after purchasing an additional 264 shares during the period. Everence Capital Management Inc. purchased a new stake in shares of Webster Financial in the fourth quarter worth about $252,000. Canandaigua National Bank & Trust Co. acquired a new position in Webster Financial in the fourth quarter worth about $206,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Webster Financial by 3.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 9,684 shares of the financial services provider's stock valued at $535,000 after purchasing an additional 279 shares during the period. Hedge funds and other institutional investors own 85.58% of the company's stock.

Insider Activity at Webster Financial

In related news, insider Daniel Bley sold 1,800 shares of Webster Financial stock in a transaction dated Tuesday, April 29th. The stock was 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 of the company's stock, valued at $1,029,373.28. The trade was a 7.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Laurence C. Morse sold 13,217 shares of the firm's stock in a transaction dated 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. Over 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 insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WBS shares. 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 note on Friday, April 25th. Raymond James dropped their target price on Webster Financial from $65.00 to $58.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Barclays cut their target price on Webster Financial from $80.00 to $72.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Keefe, Bruyette & Woods lowered their target price on 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, Wells Fargo & Company cut their price objective on Webster Financial from $75.00 to $60.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $62.73.

Webster Financial Stock Performance

Shares of NYSE WBS traded down $0.30 during midday trading on Friday, reaching $49.86. The company had a trading volume of 540,934 shares, compared to its average volume of 1,252,726. The stock has a market cap of $8.39 billion, a P/E ratio of 11.41, a P/E/G ratio of 1.02 and a beta of 0.98. The business's 50-day simple moving average is $48.09 and its 200 day simple moving average is $54.29. Webster Financial Co. has a 1 year low of $39.34 and a 1 year high of $63.99. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34.

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 firm had revenue of $704.80 million during the quarter, compared to analyst estimates 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 for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.35 earnings per share. On average, analysts forecast that Webster Financial Co. will post 5.88 earnings per share for the current fiscal year.

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

Webster Financial Dividend Announcement

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 given a $0.40 dividend. The ex-dividend date is Monday, May 12th. This represents a $1.60 annualized dividend and a dividend yield of 3.21%. Webster Financial's dividend payout ratio 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.