Webster Financial Co. (NYSE:WBS) Stake Trimmed by Sapience Investments LLC

Sapience Investments LLC lowered its stake in shares of Webster Financial Co. (NYSE:WBS - Free Report) by 22.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,175 shares of the financial services provider's stock after selling 24,381 shares during the quarter. Webster Financial comprises approximately 2.8% of Sapience Investments LLC's investment portfolio, making the stock its largest holding. Sapience Investments LLC owned about 0.05% of Webster Financial worth $4,759,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Point72 Hong Kong Ltd acquired a new position in shares of Webster Financial during the fourth quarter valued at about $1,583,000. ProShare Advisors LLC increased its holdings in Webster Financial by 7.3% in the 4th quarter. ProShare Advisors LLC now owns 8,020 shares of the financial services provider's stock worth $443,000 after buying an additional 547 shares during the period. Quantinno Capital Management LP increased its holdings in Webster Financial by 28.0% in the 4th quarter. Quantinno Capital Management LP now owns 11,368 shares of the financial services provider's stock worth $628,000 after buying an additional 2,484 shares during the period. Nomura Holdings Inc. acquired a new position in Webster Financial in the 4th quarter worth approximately $1,256,000. Finally, NorthRock Partners LLC acquired a new position in Webster Financial in the 4th quarter worth approximately $530,000. Institutional investors and hedge funds own 85.58% of the company's stock.

Webster Financial Stock Performance

Shares of NYSE WBS traded down $0.42 during midday trading on Monday, reaching $52.48. 1,026,080 shares of the stock were exchanged, compared to its average volume of 1,255,817. The firm 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. Webster Financial Co. has a twelve month low of $39.34 and a twelve month high of $63.99. The firm has a 50-day simple moving average of $48.39 and a two-hundred day simple moving average of $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 issued 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 for 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%. Webster Financial's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.35 EPS. As a group, analysts anticipate that Webster Financial Co. will post 5.88 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.05%. Webster Financial's dividend payout ratio (DPR) is 36.04%.

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

Analyst Ratings Changes

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

Insider Activity

In other news, insider Daniel Bley sold 1,800 shares of the stock in a transaction that occurred on 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 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 filing with the SEC, which is available at the SEC website. Also, Director Laurence C. Morse sold 13,217 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 $1,110,988.56. This trade represents a 41.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,217 shares of company stock worth $1,386,244 in the last quarter. Corporate insiders own 0.54% of the company's stock.

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.