M&T Bank Corp Has $15.52 Million Stake in Webster Financial Corporation $WBS

Key Points

• M&T Bank Corp lifted its stake in Webster Financial by 478.7% in Q4, buying 203,989 additional shares to hold 246,601 shares worth about $15.52 million (≈0.15% ownership).
• Webster Financial beat Q4 estimates with $1.59 EPS (vs. $1.52 est.) and revenue of $760.5 million, and it pays a quarterly dividend of $0.40 (annualized yield ~2.2%).
• Analysts have a consensus rating of Hold with an average price target of $74.07; the stock trades near $71.72 with a market cap of about $11.56 billion and a 12‑month range of $45.75–$74.00.

M&T Bank Corp lifted its stake in shares of Webster Financial Corporation (NYSE:WBS - Free Report) by 478.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 246,601 shares of the financial services provider's stock after buying an additional 203,989 shares during the quarter. M&T Bank Corp owned about 0.15% of Webster Financial worth $15,521,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of Webster Financial in the 3rd quarter valued at about $578,000. Dynamic Technology Lab Private Ltd grew its stake in shares of Webster Financial by 115.3% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 32,940 shares of the financial services provider's stock valued at $1,958,000 after buying an additional 17,640 shares during the period. Pinnbrook Capital Management LP acquired a new stake in shares of Webster Financial in the 3rd quarter valued at about $2,254,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Webster Financial in the 3rd quarter valued at about $1,991,000. Finally, 140 Summer Partners LP acquired a new stake in shares of Webster Financial in the 3rd quarter valued at about $75,465,000. Institutional investors and hedge funds own 85.58% of the company's stock.

Webster Financial Stock Down 0.6%

Shares of NYSE:WBS opened at $71.72 on Friday. The stock has a market cap of $11.56 billion, a price-to-earnings ratio of 12.13 and a beta of 1.03. 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 $45.75 and a 12-month high of $74.00. The business's 50 day moving average is $70.52 and its 200 day moving average is $64.85.

Webster Financial (NYSE:WBS - Get Free Report) last announced its earnings results on Friday, January 23rd. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.07. The company had revenue of $760.48 million for the quarter, compared to analysts' expectations of $731.95 million. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.During the same quarter in the previous year, the firm earned $1.43 earnings per share. On average, sell-side analysts forecast that Webster Financial Corporation will post 6.61 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Monday, February 9th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Monday, February 9th. Webster Financial's payout ratio is currently 27.07%.

Wall Street Analyst Weigh In

WBS has been the subject of several research reports. Barclays set a $75.00 price target on shares of Webster Financial in a research report on Wednesday, February 4th. Truist Financial downgraded shares of Webster Financial from a "buy" rating to a "hold" rating and set a $74.00 price target for the company. in a research report on Wednesday, February 4th. Citigroup downgraded shares of Webster Financial from a "buy" rating to a "hold" rating and set a $75.00 price target for the company. in a research report on Friday, February 13th. Weiss Ratings reissued a "buy (b-)" rating on shares of Webster Financial in a research report on Monday, December 29th. Finally, Stephens reissued an "equal weight" rating and issued a $73.00 price target on shares of Webster Financial in a research report on Wednesday, February 4th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $74.07.

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.

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