Webster Financial Co. (NYSE:WBS) Shares Sold by Polaris Capital Management LLC

Polaris Capital Management LLC lessened its stake in shares of Webster Financial Co. (NYSE:WBS) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 725,695 shares of the financial services provider’s stock after selling 43,000 shares during the quarter. Webster Financial accounts for 1.9% of Polaris Capital Management LLC’s investment portfolio, making the stock its 16th biggest position. Polaris Capital Management LLC’s holdings in Webster Financial were worth $40,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of Montreal Can boosted its stake in shares of Webster Financial by 182.7% during the 3rd quarter. Bank of Montreal Can now owns 959,180 shares of the financial services provider’s stock valued at $44,496,000 after buying an additional 619,934 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Webster Financial in the 3rd quarter worth about $22,146,000. State Street Corp raised its stake in shares of Webster Financial by 4.8% in the 3rd quarter. State Street Corp now owns 7,320,930 shares of the financial services provider’s stock valued at $341,229,000 after purchasing an additional 333,606 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Webster Financial by 57.6% during the third quarter. Wellington Management Group LLP now owns 770,684 shares of the financial services provider’s stock worth $35,922,000 after purchasing an additional 281,686 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Webster Financial by 11.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,874,644 shares of the financial services provider’s stock valued at $87,377,000 after buying an additional 191,894 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Performance

WBS opened at $59.16 on Tuesday. The business has a 50 day moving average price of $57.77 and a two-hundred day moving average price of $52.60. 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 company has a market capitalization of $10.14 billion, a price-to-earnings ratio of 13.54, a price-to-earnings-growth ratio of 1.09 and a beta of 1.29. Webster Financial Co. has a 1-year low of $39.33 and a 1-year high of $63.99.

Webster Financial (NYSE:WBS) last released its earnings results on Friday, January 17th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.08. Webster Financial had a return on equity of 10.82% and a net margin of 18.39%. The firm had revenue of $661.00 million for the quarter, compared to analyst estimates of $687.53 million. During the same period in the previous year, the company earned $1.46 earnings per share. Research analysts predict that Webster Financial Co. will post 5.85 EPS for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 10th will be given a $0.40 dividend. The ex-dividend date is Monday, February 10th. This represents a $1.60 annualized dividend and a yield of 2.70%. Webster Financial’s dividend payout ratio (DPR) is 36.61%.

Insider Activity

In other news, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $59.33, for a total value of $474,640.00. Following the completion of the sale, the chief executive officer now owns 218,924 shares in the company, valued at $12,988,760.92. This represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Bley sold 500 shares of Webster Financial stock in a transaction on Friday, November 29th. The shares were sold at an average price of $61.91, for a total value of $30,955.00. Following the transaction, the insider now owns 17,279 shares in the company, valued at $1,069,742.89. This represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,150 shares of company stock worth $903,085. Insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on WBS shares. Stephens set a $58.00 target price on Webster Financial in a report on Thursday, October 17th. Wells Fargo & Company upgraded shares of Webster Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $70.00 to $75.00 in a research note on Monday, January 6th. UBS Group initiated coverage on shares of Webster Financial in a research report on Tuesday, December 17th. They set a “buy” rating and a $76.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on Webster Financial from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Barclays increased their target price on Webster Financial from $63.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $62.08.

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.