Webster Financial Corporation $WBS Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 2.9% during the second quarter, HoldingsChannel reports. The firm owned 385,315 shares of the financial services provider’s stock after selling 11,552 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Webster Financial were worth $29,446,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. BOKF NA acquired a new position in Webster Financial in the third quarter valued at $26,000. New England Capital Financial Advisors LLC grew its holdings in Webster Financial by 246.8% in the 1st quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock valued at $30,000 after buying an additional 311 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Webster Financial during the 3rd quarter worth about $29,000. Atlas Capital Advisors Inc. purchased a new stake in Webster Financial in the fourth quarter valued at approximately $31,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Webster Financial during the third quarter worth approximately $33,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Performance

NYSE:WBS opened at $77.57 on Friday. The firm’s fifty day simple moving average is $77.22 and its 200 day simple moving average is $73.62. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.46. Webster Financial Corporation has a twelve month low of $52.69 and a twelve month high of $79.74. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 12.61 and a beta of 1.01.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.01). The company had revenue of $769.23 million during the quarter, compared to analyst estimates of $755.80 million. Webster Financial had a net margin of 22.78% and a return on equity of 11.23%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.52 earnings per share. As a group, equities research analysts expect that Webster Financial Corporation will post 6.59 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Monday, August 10th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Monday, August 10th. Webster Financial’s dividend payout ratio (DPR) is presently 26.02%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on WBS shares. Royal Bank Of Canada increased their price target on shares of Webster Financial from $75.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Finally, Barclays lifted their target price on Webster Financial from $75.00 to $78.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $74.25.

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.