Rafferty Asset Management LLC Sells 33,006 Shares of Webster Financial Corporation $WBS

Rafferty Asset Management LLC reduced its position in shares of Webster Financial Corporation (NYSE:WBS) by 15.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 175,628 shares of the financial services provider’s stock after selling 33,006 shares during the quarter. Rafferty Asset Management LLC’s holdings in Webster Financial were worth $10,439,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WBS. Root Financial Partners LLC acquired a new position in Webster Financial during the 3rd quarter worth approximately $29,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Webster Financial in the third quarter valued at approximately $33,000. Parkside Financial Bank & Trust lifted its position in shares of Webster Financial by 56.1% in the second quarter. Parkside Financial Bank & Trust now owns 829 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 298 shares in the last quarter. Quent Capital LLC acquired a new position in Webster Financial during the third quarter worth $47,000. Finally, Hantz Financial Services Inc. grew its position in Webster Financial by 50.3% in the second quarter. Hantz Financial Services Inc. now owns 899 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 301 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on WBS shares. Keefe, Bruyette & Woods boosted their price target on shares of Webster Financial from $75.00 to $77.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Jefferies Financial Group set a $75.00 target price on Webster Financial in a research report on Wednesday, February 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Webster Financial in a research report on Monday, December 29th. Barclays set a $75.00 price target on Webster Financial in a research report on Wednesday, February 4th. Finally, Truist Financial cut Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 price objective on the stock. in a research note on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, Webster Financial currently has an average rating of “Hold” and an average target price of $74.36.

Webster Financial Stock Performance

WBS opened at $72.00 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40. Webster Financial Corporation has a 12-month low of $39.43 and a 12-month high of $74.00. The business has a 50 day moving average of $67.51 and a 200-day moving average of $62.32. The stock has a market cap of $11.61 billion, a price-to-earnings ratio of 12.18 and a beta of 1.03.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Friday, January 23rd. The financial services provider reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.07. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.The business had revenue of $760.48 million for the quarter, compared to analysts’ expectations of $731.95 million. During the same quarter in the prior year, the business earned $1.43 EPS. On average, equities research analysts expect that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Monday, February 9th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Monday, February 9th. Webster Financial’s dividend payout ratio (DPR) is currently 27.07%.

Webster Financial 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.