Systematic Financial Management LP Purchases 8,492 Shares of Webster Financial Corporation $WBS

Systematic Financial Management LP lifted its position in shares of Webster Financial Corporation (NYSE:WBS) by 0.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,013,933 shares of the financial services provider’s stock after purchasing an additional 8,492 shares during the period. Webster Financial comprises 1.5% of Systematic Financial Management LP’s investment portfolio, making the stock its 6th largest holding. Systematic Financial Management LP owned approximately 0.60% of Webster Financial worth $55,361,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in WBS. Avantax Advisory Services Inc. grew its holdings in Webster Financial by 9.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 4,455 shares of the financial services provider’s stock worth $230,000 after acquiring an additional 377 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Webster Financial by 13.1% during the first quarter. Cetera Investment Advisers now owns 24,090 shares of the financial services provider’s stock valued at $1,242,000 after acquiring an additional 2,791 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Webster Financial by 9.9% during the first quarter. LPL Financial LLC now owns 77,103 shares of the financial services provider’s stock worth $3,975,000 after purchasing an additional 6,948 shares during the period. US Bancorp DE grew its stake in shares of Webster Financial by 6.3% in the first quarter. US Bancorp DE now owns 7,596 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 453 shares during the last quarter. Finally, Bank of Nova Scotia acquired a new stake in Webster Financial in the first quarter valued at $1,169,000. Institutional investors own 85.58% of the company’s stock.

Insider Transactions at Webster Financial

In other Webster Financial news, CEO John R. Ciulla sold 8,000 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $55.45, for a total value of $443,600.00. Following the transaction, the chief executive officer owned 231,872 shares in the company, valued at approximately $12,857,302.40. This represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Elzbieta Cieslik sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $61.58, for a total value of $123,160.00. Following the completion of the sale, the chief accounting officer directly owned 14,894 shares of the company’s stock, valued at $917,172.52. This trade represents a 11.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,000 shares of company stock worth $628,380 in the last three months. Insiders own 0.54% of the company’s stock.

Webster Financial Price Performance

Webster Financial stock opened at $60.40 on Wednesday. The stock has a market capitalization of $9.74 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 0.50 and a beta of 1.13. Webster Financial Corporation has a 52-week low of $39.43 and a 52-week high of $63.59. The stock’s 50 day moving average price is $57.68 and its two-hundred day moving average price is $57.37. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.85 and a current ratio of 0.85.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Friday, October 17th. The financial services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.02. The company had revenue of $756.06 million during the quarter, compared to analyst estimates of $725.22 million. Webster Financial had a net margin of 21.32% and a return on equity of 11.07%. During the same quarter in the previous year, the business posted $1.34 EPS. On average, equities analysts predict that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were issued a dividend of $0.40 per share. The ex-dividend date was Monday, November 10th. This represents a $1.60 annualized dividend and a dividend yield of 2.6%. Webster Financial’s dividend payout ratio is currently 29.80%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WBS shares. Cantor Fitzgerald started coverage on Webster Financial in a report on Wednesday, September 10th. They set an “overweight” rating and a $70.00 target price on the stock. Truist Financial cut their price objective on Webster Financial from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Monday, October 20th. Barclays increased their target price on shares of Webster Financial from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. Cowen assumed coverage on shares of Webster Financial in a report on Wednesday, September 24th. They set a “buy” rating for the company. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $65.00 price objective (down from $68.00) on shares of Webster Financial in a research note on Monday, October 20th. Thirteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Webster Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.85.

About Webster Financial

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.