Point72 Asia Singapore Pte. Ltd. Has $233,000 Stock Position in Webster Financial Co. (NYSE:WBS)

Point72 Asia Singapore Pte. Ltd. reduced its stake in shares of Webster Financial Co. (NYSE:WBS) by 36.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,220 shares of the financial services provider’s stock after selling 2,435 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Webster Financial were worth $233,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Webster Financial in the fourth quarter valued at approximately $269,000. Park Avenue Securities LLC acquired a new stake in shares of Webster Financial in the fourth quarter valued at approximately $246,000. Proficio Capital Partners LLC acquired a new stake in shares of Webster Financial in the fourth quarter valued at approximately $3,549,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Webster Financial by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,507,655 shares of the financial services provider’s stock valued at $83,253,000 after purchasing an additional 38,713 shares during the last quarter. Finally, Barclays PLC increased its holdings in Webster Financial by 36.4% during the third quarter. Barclays PLC now owns 297,834 shares of the financial services provider’s stock worth $13,883,000 after buying an additional 79,556 shares during the last quarter. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WBS has been the topic of a number of recent analyst reports. Truist Financial initiated coverage on shares of Webster Financial in a report on Tuesday. They set a “buy” rating and a $61.00 target price on the stock. Morgan Stanley lowered their target price on shares of Webster Financial from $75.00 to $66.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Raymond James lowered their target price on shares of Webster Financial from $65.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday, April 2nd. Wells Fargo & Company lowered their target price on shares of Webster Financial from $75.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Finally, Royal Bank of Canada set a $60.00 target price on shares of Webster Financial and gave the stock an “outperform” rating in a 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.58.

Webster Financial Stock Performance

WBS stock opened at $52.92 on Friday. 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 fifty day moving average price of $48.33 and a two-hundred day moving average price of $54.32. Webster Financial Co. has a one year low of $39.34 and a one year high of $63.99. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 1.02 and a beta of 0.98.

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

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Monday, May 12th will be paid a $0.40 dividend. The ex-dividend date is Monday, May 12th. This represents a $1.60 annualized dividend and a dividend yield of 3.02%. Webster Financial’s dividend payout ratio (DPR) is presently 36.04%.

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

Insider Activity at Webster Financial

In related news, insider Daniel Bley sold 1,200 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $49.97, for a total value of $59,964.00. Following the transaction, the insider now directly owns 20,317 shares in the company, valued at approximately $1,015,240.49. This represents a 5.58% 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, Director Laurence C. Morse sold 13,217 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $59.07, for a total transaction of $780,728.19. Following the completion of the transaction, the director now owns 18,808 shares in the company, valued at $1,110,988.56. This trade represents a 41.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,217 shares of company stock worth $1,386,244. Corporate insiders own 0.54% of the company’s stock.

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.