Allspring Global Investments Holdings LLC Has $1.53 Million Position in Webster Financial Corporation $WBS

Allspring Global Investments Holdings LLC cut its position in shares of Webster Financial Corporation (NYSE:WBS - Free Report) by 96.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,736 shares of the financial services provider's stock after selling 649,763 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Webster Financial were worth $1,527,000 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. Artemis Investment Management LLP bought a new position in Webster Financial in the fourth quarter valued at $56,253,000. Patriot Financial Group Insurance Agency LLC lifted its position in Webster Financial by 95.4% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 33,038 shares of the financial services provider's stock worth $2,294,000 after buying an additional 16,132 shares in the last quarter. M&T Bank Corp lifted its position in Webster Financial by 478.7% during the 4th quarter. M&T Bank Corp now owns 246,601 shares of the financial services provider's stock worth $15,521,000 after buying an additional 203,989 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Webster Financial by 43.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,171,369 shares of the financial services provider's stock worth $73,726,000 after buying an additional 356,144 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Webster Financial during the 4th quarter worth about $2,612,000. Institutional investors and hedge funds own 85.58% of the company's stock.

Webster Financial Price Performance

Shares of WBS opened at $76.06 on Monday. The company's 50-day moving average is $74.60 and its 200-day moving average is $71.41. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $12.32 billion, a PE ratio of 12.37 and a beta of 1.00. Webster Financial Corporation has a fifty-two week low of $52.69 and a fifty-two week high of $77.69.

Webster Financial (NYSE:WBS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.61 by ($0.01). The firm had revenue of $739.99 million for the quarter, compared to the consensus estimate of $755.80 million. Webster Financial had a return on equity of 11.23% and a net margin of 22.78%.The company's revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.52 EPS. Equities analysts forecast that Webster Financial Corporation will post 6.55 EPS for the current year.

Webster Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were given a $0.40 dividend. The ex-dividend date was Monday, May 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. Webster Financial's dividend payout ratio (DPR) is presently 26.02%.

Analyst Ratings Changes

Several analysts recently issued reports on WBS shares. UBS Group started coverage on Webster Financial in a report on Tuesday, April 7th. They set a "neutral" rating and a $69.00 target price on the stock. Keefe, Bruyette & Woods decreased their price target on Webster Financial from $79.00 to $77.50 and set an "outperform" rating for the company in a research note on Friday, May 1st. Royal Bank Of Canada boosted their price target on Webster Financial from $75.00 to $76.00 and gave the stock a "sector perform" rating in a research report on Wednesday. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Webster Financial in a research note on Friday, June 12th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $74.04.

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.

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