Savant Capital LLC Lowers Position in Webster Financial Corporation $WBS

Savant Capital LLC lessened its stake in Webster Financial Corporation (NYSE:WBS) by 81.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,825 shares of the financial services provider’s stock after selling 33,659 shares during the quarter. Savant Capital LLC’s holdings in Webster Financial were worth $493,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of WBS. BOKF NA purchased a new position in shares of Webster Financial in the third quarter worth $26,000. Flagship Harbor Advisors LLC purchased a new position in shares of Webster Financial in the fourth quarter worth $28,000. Caitong International Asset Management Co. Ltd purchased a new stake in Webster Financial during the third quarter valued at $29,000. Wilmington Savings Fund Society FSB purchased a new stake in Webster Financial during the third quarter valued at $33,000. Finally, Farther Finance Advisors LLC raised its stake in Webster Financial by 39.7% during the fourth quarter. Farther Finance Advisors LLC now owns 560 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company raised shares of Webster Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. UBS Group assumed coverage on shares of Webster Financial in a research note on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price target on the stock. Santander downgraded shares of Webster Financial from a “neutral” rating to an “underweight” rating in a research note on Tuesday, March 3rd. Raymond James Financial downgraded shares of Webster Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, Citigroup downgraded shares of Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research note on Friday, February 13th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $73.96.

Webster Financial Trading Up 1.1%

Shares of WBS opened at $72.95 on Friday. Webster Financial Corporation has a twelve month low of $50.66 and a twelve month high of $74.00. The company has a market cap of $11.82 billion, a P/E ratio of 11.94 and a beta of 1.00. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.60. The company’s fifty day simple moving average is $71.69 and its 200-day simple moving average is $67.96.

Webster Financial (NYSE:WBS) last announced 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. Webster Financial had a net margin of 22.95% and a return on equity of 11.31%. The business had revenue of $764.05 million for the quarter, compared to the consensus estimate of $735.26 million. During the same quarter in the prior year, the firm posted $1.30 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, analysts expect that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. Webster Financial’s dividend payout ratio 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.