iSAM Funds UK Ltd Buys Shares of 4,012 Webster Financial Co. (NYSE:WBS)

iSAM Funds UK Ltd acquired a new stake in shares of Webster Financial Co. (NYSE:WBS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,012 shares of the financial services provider’s stock, valued at approximately $222,000.

Several other large investors also recently made changes to their positions in the business. HighTower Advisors LLC boosted its position in shares of 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 purchasing an additional 177 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of Webster Financial by 0.9% during the 4th quarter. Sanctuary Advisors LLC now owns 19,336 shares of the financial services provider’s stock valued at $1,163,000 after purchasing an additional 178 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its position in shares of Webster Financial by 3.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,912 shares of the financial services provider’s stock valued at $326,000 after purchasing an additional 186 shares in the last quarter. Cardinal Capital Management boosted its holdings in shares of Webster Financial by 0.4% in the fourth quarter. Cardinal Capital Management now owns 49,983 shares of the financial services provider’s stock worth $2,760,000 after buying an additional 189 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of Webster Financial by 2.8% in the fourth quarter. US Bancorp DE now owns 7,143 shares of the financial services provider’s stock worth $394,000 after buying an additional 192 shares during the period. Institutional investors own 85.58% of the company’s stock.

Wall Street Analyst Weigh In

WBS has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their target price on shares of Webster Financial from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Truist Financial initiated coverage on shares of Webster Financial in a report on Tuesday, May 13th. They issued a “buy” rating and a $61.00 target price for the company. Jefferies Financial Group initiated 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. Morgan Stanley decreased their target price on shares of Webster Financial from $75.00 to $66.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Finally, Barclays decreased their target price on shares of Webster Financial from $80.00 to $72.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Webster Financial presently has a consensus rating of “Moderate Buy” and an average target price of $63.75.

Webster Financial Stock Performance

WBS stock opened at $50.69 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market cap of $8.53 billion, a P/E ratio of 11.60, a P/E/G ratio of 1.02 and a beta of 0.98. The firm has a 50 day simple moving average of $48.48 and a 200 day simple moving average of $54.32. Webster Financial Co. has a 52 week low of $39.34 and a 52 week high of $63.99.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.08). The company 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%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.35 earnings per share. Research analysts anticipate that Webster Financial Co. will post 5.88 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Monday, May 12th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Monday, May 12th. Webster Financial’s payout ratio is presently 36.04%.

Webster Financial declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 1st that allows the company to buyback $700.00 million in outstanding shares. This buyback authorization allows the financial services provider to buy up to 8.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity at Webster Financial

In related news, insider Daniel Bley sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $49.97, for a total transaction of $59,964.00. Following the transaction, the insider now owns 20,317 shares of the company’s stock, valued at approximately $1,015,240.49. This trade represents a 5.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.54% of the company’s stock.

About Webster Financial

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.