Forum Financial Management LP Raises Holdings in Webster Financial Co. (NYSE:WBS)

Forum Financial Management LP grew its position in shares of Webster Financial Co. (NYSE:WBS) by 31.0% in the fourth quarter, HoldingsChannel reports. The firm owned 5,862 shares of the financial services provider’s stock after buying an additional 1,388 shares during the quarter. Forum Financial Management LP’s holdings in Webster Financial were worth $324,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WBS. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Webster Financial during the fourth quarter valued at about $26,000. Headlands Technologies LLC purchased a new position in shares of Webster Financial during the fourth quarter valued at about $32,000. R Squared Ltd purchased a new position in Webster Financial in the fourth quarter worth about $43,000. Spurstone Advisory Services LLC purchased a new position in Webster Financial in the fourth quarter worth about $61,000. Finally, Aster Capital Management DIFC Ltd grew its position in Webster Financial by 742.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,264 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 1,114 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on WBS shares. Keefe, Bruyette & Woods dropped their price target on Webster Financial from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Barclays dropped their price target on Webster Financial from $80.00 to $72.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company dropped their price target on Webster Financial from $75.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Truist Financial started coverage on Webster Financial in a research report on Tuesday, May 13th. They issued a “buy” rating and a $61.00 price target for the company. Finally, Royal Bank of Canada set a $60.00 price target on Webster Financial and gave the stock an “outperform” rating in a research report on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Webster Financial presently has an average rating of “Moderate Buy” and a consensus target price of $63.75.

Insider Activity

In other news, Director Lauren States sold 2,200 shares of Webster Financial stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $50.80, for a total transaction of $111,760.00. Following the completion of the sale, the director now owns 14,620 shares of the company’s stock, valued at approximately $742,696. The trade was a 13.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel Bley sold 1,200 shares of Webster Financial 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 sale, the insider now directly owns 20,317 shares of the company’s stock, valued at $1,015,240.49. This represents a 5.58% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,200 shares of company stock valued at $257,836. Corporate insiders own 0.54% of the company’s stock.

Webster Financial Stock Up 2.5%

Shares of NYSE:WBS opened at $52.52 on Wednesday. Webster Financial Co. has a 1 year low of $39.34 and a 1 year high of $63.99. The business has a 50 day simple moving average of $48.50 and a two-hundred day simple moving average of $54.21. The firm has a market capitalization of $8.84 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.02 and a beta of 0.98. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84.

Webster Financial (NYSE:WBS) last announced its earnings results on Thursday, April 24th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.08). Webster Financial had a net margin of 18.39% and a return on equity of 10.82%. The business had revenue of $704.80 million for the quarter, compared to analysts’ expectations of $708.46 million. During the same quarter last year, the firm earned $1.35 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts predict that Webster Financial Co. will post 5.88 EPS for the current year.

Webster Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Monday, May 12th. Webster Financial’s dividend payout ratio is presently 36.04%.

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