9,352 Shares in Webster Financial Co. (NYSE:WBS) Purchased by Teza Capital Management LLC

Teza Capital Management LLC acquired a new position in shares of Webster Financial Co. (NYSE:WBS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,352 shares of the financial services provider’s stock, valued at approximately $516,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC boosted its position in 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 buying an additional 79,556 shares during the last quarter. Park Avenue Securities LLC bought a new stake in Webster Financial during the 4th quarter worth about $246,000. Hennion & Walsh Asset Management Inc. acquired a new position in Webster Financial during the 4th quarter valued at about $269,000. HB Wealth Management LLC bought a new position in shares of Webster Financial in the 4th quarter valued at about $316,000. Finally, Grove Bank & Trust acquired a new stake in shares of Webster Financial during the 4th quarter worth approximately $105,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WBS. Morgan Stanley reduced their price objective on shares of Webster Financial from $75.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Keefe, Bruyette & Woods cut their price target 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. Barclays decreased their price objective on Webster Financial from $80.00 to $72.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company cut their target price on Webster Financial from $75.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Finally, Truist Financial started coverage on Webster Financial in a report on Tuesday, May 13th. They set a “buy” rating and a $61.00 target price on the stock. Three 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.58.

Insider Activity at Webster Financial

In related news, Director Laurence C. Morse sold 13,217 shares of Webster Financial stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel Bley sold 1,800 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 21,517 shares in the company, valued at $1,029,373.28. The trade was a 7.72% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,217 shares of company stock valued at $1,386,244. 0.54% of the stock is owned by corporate insiders.

Webster Financial Trading Down 0.8%

NYSE WBS opened at $52.48 on Tuesday. Webster Financial Co. has a one year low of $39.34 and a one year high of $63.99. 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 $8.83 billion, a P/E ratio of 12.01, a P/E/G ratio of 1.02 and a beta of 0.98. The stock’s 50-day moving average is $48.39 and its 200-day moving average is $54.36.

Webster Financial (NYSE:WBS) last posted its earnings results on Thursday, April 24th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.08). Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The business had revenue of $704.80 million for the quarter, compared to the consensus estimate of $708.46 million. During the same period in the previous year, the company posted $1.35 earnings per share. Webster Financial’s revenue for the quarter was up 5.7% compared to the same quarter last year. Sell-side analysts anticipate that Webster Financial Co. will post 5.88 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Monday, May 12th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.05%. Webster Financial’s payout ratio is 36.04%.

Webster Financial declared that its Board of Directors has approved a stock buyback program on Thursday, May 1st that allows the company to buyback $700.00 million in shares. This buyback authorization allows the financial services provider to reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.