Algebris UK Ltd Decreases Stock Holdings in Webster Financial Co. (NYSE:WBS)

Algebris UK Ltd trimmed its position in shares of Webster Financial Co. (NYSE:WBS) by 30.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 167,146 shares of the financial services provider’s stock after selling 73,139 shares during the quarter. Webster Financial comprises about 2.3% of Algebris UK Ltd’s investment portfolio, making the stock its 17th largest holding. Algebris UK Ltd owned approximately 0.10% of Webster Financial worth $8,914,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Webster Financial during the fourth quarter valued at about $269,000. Park Avenue Securities LLC acquired a new position in shares of Webster Financial during the fourth quarter valued at about $246,000. HighTower Advisors LLC increased its holdings in shares of Webster Financial by 6.8% during the third quarter. HighTower Advisors LLC now owns 31,978 shares of the financial services provider’s stock valued at $1,488,000 after acquiring an additional 2,032 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Webster Financial by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,468,942 shares of the financial services provider’s stock valued at $68,467,000 after acquiring an additional 34,373 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Webster Financial by 8.5% during the third quarter. BNP Paribas Financial Markets now owns 89,202 shares of the financial services provider’s stock valued at $4,158,000 after acquiring an additional 6,964 shares in the last quarter. 85.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Webster Financial

In related news, Director Laurence C. Morse sold 13,217 shares of Webster Financial stock in a transaction 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 sale, the director now owns 18,808 shares of the company’s stock, valued at approximately $1,110,988.56. This trade represents a 41.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John R. Ciulla sold 8,000 shares of Webster Financial stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $57.43, for a total transaction of $459,440.00. Following the completion of the sale, the chief executive officer now directly owns 210,051 shares in the company, valued at $12,063,228.93. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. 0.88% of the stock is owned by corporate insiders.

Webster Financial Price Performance

NYSE:WBS opened at $50.90 on Wednesday. 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 firm has a market cap of $8.72 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 1.02 and a beta of 1.28. The company has a 50 day moving average price of $56.46 and a 200-day moving average price of $54.20. Webster Financial Co. has a 1-year low of $39.34 and a 1-year high of $63.99.

Webster Financial (NYSE:WBS) last posted its earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.08. The firm had revenue of $661.00 million during the quarter, compared to analyst estimates of $687.53 million. Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. During the same period in the previous year, the firm earned $1.46 EPS. Equities research analysts forecast that Webster Financial Co. will post 5.88 EPS for the current year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were paid a $0.40 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.60 dividend on an annualized basis and a yield of 3.14%. Webster Financial’s dividend payout ratio is currently 36.61%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WBS. JPMorgan Chase & Co. cut their price objective on shares of Webster Financial from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada upped their price objective on shares of Webster Financial from $66.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. StockNews.com raised shares of Webster Financial from a “sell” rating to a “hold” rating in a research report on Saturday, January 11th. UBS Group started coverage on shares of Webster Financial in a research report on Tuesday, December 17th. They set a “buy” rating and a $76.00 price target for the company. Finally, Wells Fargo & Company raised shares of Webster Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $70.00 to $75.00 in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Webster Financial has a consensus rating of “Moderate Buy” and an average price target of $63.08.

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.