Vanguard Group Inc. Has $921.98 Million Position in Webster Financial Corporation (NYSE:WBS)

Vanguard Group Inc. lowered its holdings in Webster Financial Corporation (NYSE:WBS) by 0.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,885,229 shares of the financial services provider’s stock after selling 130,081 shares during the quarter. Vanguard Group Inc. owned about 10.63% of Webster Financial worth $921,984,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in Webster Financial by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,620,818 shares of the financial services provider’s stock worth $365,601,000 after purchasing an additional 45,310 shares in the last quarter. Capital International Investors lifted its stake in shares of Webster Financial by 0.9% during the fourth quarter. Capital International Investors now owns 4,130,379 shares of the financial services provider’s stock valued at $228,000,000 after acquiring an additional 35,039 shares during the period. Earnest Partners LLC lifted its stake in shares of Webster Financial by 3.8% during the fourth quarter. Earnest Partners LLC now owns 3,154,160 shares of the financial services provider’s stock valued at $174,173,000 after acquiring an additional 116,508 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Webster Financial by 4.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,948,701 shares of the financial services provider’s stock valued at $162,828,000 after acquiring an additional 114,375 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Webster Financial by 3.9% during the fourth quarter. Bank of America Corp DE now owns 2,641,766 shares of the financial services provider’s stock valued at $145,878,000 after acquiring an additional 99,586 shares during the period. Institutional investors and hedge funds own 85.58% of the company’s stock.

Webster Financial Trading Down 1.2%

NYSE:WBS opened at $55.19 on Tuesday. Webster Financial Corporation has a 1-year low of $39.43 and a 1-year high of $63.99. The business’s 50-day moving average price is $56.26 and its two-hundred day moving average price is $53.31. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 0.51 and a beta of 1.04.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.09. Webster Financial had a return on equity of 10.84% and a net margin of 20.06%. The company had revenue of $715.80 million during the quarter, compared to the consensus estimate of $716.59 million. During the same period in the prior year, the company earned $1.26 earnings per share. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, equities analysts expect that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Monday, August 11th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, August 11th. Webster Financial’s dividend payout ratio is 32.45%.

Webster Financial declared that its board has initiated a share buyback program on Thursday, May 1st that permits the company to buyback $700.00 million in shares. This buyback authorization permits the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Raymond James Financial upped their price target on Webster Financial from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Friday, July 18th. Barclays upped their price target on Webster Financial from $72.00 to $77.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Citigroup upped their price target on Webster Financial from $65.00 to $71.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Royal Bank Of Canada set a $60.00 price target on Webster Financial and gave the company an “outperform” rating in a research note on Friday, April 25th. Finally, Keefe, Bruyette & Woods upped their price target on Webster Financial from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Friday, July 18th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $66.77.

Insider Buying and Selling

In other Webster Financial news, insider James Mi Griffin sold 2,065 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $60.56, for a total value of $125,056.40. Following the completion of the sale, the insider directly owned 13,363 shares in the company, valued at $809,263.28. This represents a 13.38% 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. Also, Director William L. Atwell sold 16,823 shares of the stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $59.20, for a total value of $995,921.60. Following the completion of the sale, the director owned 30,915 shares of the company’s stock, valued at $1,830,168. This trade represents a 35.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,638 shares of company stock valued at $2,258,145. 0.54% of the stock is owned by company insiders.

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.