Webster Financial Corporation (NYSE:WBS) Shares Purchased by Bessemer Group Inc.

Bessemer Group Inc. lifted its position in Webster Financial Corporation (NYSE:WBS) by 166.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,027 shares of the financial services provider’s stock after purchasing an additional 641 shares during the period. Bessemer Group Inc.’s holdings in Webster Financial were worth $53,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in WBS. US Bancorp DE increased its holdings in Webster Financial by 2.8% in the 4th quarter. US Bancorp DE now owns 7,143 shares of the financial services provider’s stock worth $394,000 after acquiring an additional 192 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Webster Financial by 47.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,102 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 674 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Webster Financial by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,507,655 shares of the financial services provider’s stock worth $83,253,000 after acquiring an additional 38,713 shares in the last quarter. M&T Bank Corp increased its holdings in Webster Financial by 7.5% in the 4th quarter. M&T Bank Corp now owns 6,615 shares of the financial services provider’s stock worth $365,000 after acquiring an additional 460 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Webster Financial in the 4th quarter worth $3,549,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Webster Financial

In other Webster Financial news, Director Lauren States sold 2,200 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $50.80, for a total value of $111,760.00. Following the transaction, the director owned 14,620 shares of the company’s stock, valued at $742,696. This represents a 13.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Daniel Bley sold 1,800 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $47.84, for a total transaction of $86,112.00. Following the completion of the transaction, the insider directly owned 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. Over the last ninety days, insiders sold 18,000 shares of company stock worth $934,210. 0.54% of the stock is owned by corporate insiders.

Webster Financial Trading Up 1.6%

Shares of WBS stock opened at $58.68 on Friday. The company’s 50-day moving average price is $52.02 and its 200-day moving average price is $52.94. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.43. The stock has a market cap of $9.87 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 0.75 and a beta of 1.00. Webster Financial Corporation has a twelve month low of $39.43 and a twelve month high of $63.99.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.30 earnings per share for the quarter, missing the consensus estimate 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 net margin of 18.58% and a return on equity of 10.57%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.35 EPS. As a group, equities analysts predict that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial declared that its board has approved a share buyback plan on Thursday, May 1st that authorizes the company to repurchase $700.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.60 dividend on an annualized basis and a yield of 2.73%. Webster Financial’s payout ratio is currently 36.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on WBS shares. 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 for the company. Barclays cut their price target 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. Morgan Stanley cut their price target 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. Keefe, Bruyette & Woods cut their price target 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. Finally, Raymond James Financial cut their price target on shares of Webster Financial from $65.00 to $58.00 and set an “outperform” rating for the company in a report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.75.

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.