Clearbridge Investments LLC Has $55.79 Million Stock Holdings in Webster Financial Corporation $WBS

Clearbridge Investments LLC increased its holdings in Webster Financial Corporation (NYSE:WBS) by 17,591.5% in the fourth quarter, HoldingsChannel reports. The firm owned 886,344 shares of the financial services provider’s stock after purchasing an additional 881,334 shares during the period. Clearbridge Investments LLC’s holdings in Webster Financial were worth $55,786,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. BOKF NA bought a new stake in Webster Financial in the third quarter worth $26,000. Flagship Harbor Advisors LLC bought a new stake in Webster Financial in the fourth quarter worth $28,000. Caitong International Asset Management Co. Ltd bought a new stake in Webster Financial in the third quarter worth $29,000. Wilmington Savings Fund Society FSB bought a new stake in Webster Financial in the third quarter worth $33,000. Finally, Farther Finance Advisors LLC boosted its holdings in Webster Financial by 39.7% in the fourth quarter. Farther Finance Advisors LLC now owns 560 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 159 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on WBS shares. Wells Fargo & Company upgraded shares of Webster Financial from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Citigroup cut shares of Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a report on Friday, February 13th. Keefe, Bruyette & Woods decreased their price objective on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a report on Friday, May 1st. UBS Group started coverage on shares of Webster Financial in a report on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 price objective for the company. Finally, Raymond James Financial cut shares of Webster Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 11th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $73.96.

Webster Financial Stock Up 0.1%

NYSE WBS opened at $72.34 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a 50-day simple moving average of $71.82 and a 200 day simple moving average of $68.21. Webster Financial Corporation has a twelve month low of $50.66 and a twelve month high of $74.00. The stock has a market cap of $11.72 billion, a PE ratio of 11.84 and a beta of 1.01.

Webster Financial (NYSE:WBS) last released its earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.04. The business had revenue of $764.05 million during the quarter, compared to analysts’ expectations of $735.26 million. Webster Financial had a net margin of 22.95% and a return on equity of 11.31%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $1.30 earnings per share. On average, research analysts forecast that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were paid a dividend of $0.40 per share. The ex-dividend date was Monday, May 11th. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. Webster Financial’s dividend payout ratio (DPR) is currently 26.19%.

Webster Financial Company Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.