Rhumbline Advisers Sells 7,590 Shares of Webster Financial Corporation $WBS

Rhumbline Advisers lessened its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 494,015 shares of the financial services provider’s stock after selling 7,590 shares during the quarter. Rhumbline Advisers owned approximately 0.30% of Webster Financial worth $29,364,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its stake in shares of Webster Financial by 2.2% in the 1st quarter. Royal Bank of Canada now owns 94,385 shares of the financial services provider’s stock valued at $4,866,000 after purchasing an additional 2,049 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Webster Financial in the first quarter worth about $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Webster Financial by 15.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,127 shares of the financial services provider’s stock worth $2,069,000 after acquiring an additional 5,299 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Webster Financial by 37.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 652,921 shares of the financial services provider’s stock valued at $33,658,000 after acquiring an additional 176,258 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Webster Financial by 4.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 476,095 shares of the financial services provider’s stock valued at $24,543,000 after acquiring an additional 20,090 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

Webster Financial Trading Down 0.5%

Shares of WBS stock opened at $71.13 on Monday. The firm has a market capitalization of $11.47 billion, a P/E ratio of 12.04 and a beta of 1.07. Webster Financial Corporation has a 1 year low of $39.43 and a 1 year high of $73.87. The firm’s fifty day simple moving average is $65.77 and its 200 day simple moving average is $61.20. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40.

Webster Financial (NYSE:WBS) last posted its quarterly earnings results on Friday, January 23rd. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.07. The company had revenue of $760.48 million for the quarter, compared to analyst estimates of $731.95 million. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. During the same period last year, the business posted $1.43 EPS. As a group, sell-side analysts predict that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Monday, February 9th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, February 9th. This represents a $1.60 annualized dividend and a yield of 2.2%. Webster Financial’s dividend payout ratio is 27.07%.

Analyst Ratings Changes

Several research firms recently weighed in on WBS. Jefferies Financial Group set a $75.00 target price on Webster Financial in a report on Wednesday, February 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 research note on Friday. Truist Financial downgraded shares of Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 price objective for the company. in a report on Wednesday, February 4th. UBS Group lowered shares of Webster Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $77.00 to $75.00 in a research note on Thursday, February 5th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $70.00 target price on shares of Webster Financial in a research report on Friday, February 6th. Four analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, Webster Financial currently has a consensus rating of “Hold” and a consensus price target of $74.36.

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.