UBS Group AG Lowers Stake in Webster Financial Corporation $WBS

UBS Group AG decreased its holdings in Webster Financial Corporation (NYSE:WBS - Free Report) by 17.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 605,579 shares of the financial services provider's stock after selling 129,893 shares during the quarter. UBS Group AG owned 0.38% of Webster Financial worth $38,115,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada boosted its position in Webster Financial by 2.2% during the first quarter. Royal Bank of Canada now owns 94,385 shares of the financial services provider's stock worth $4,866,000 after acquiring an additional 2,049 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Webster Financial in the 1st quarter valued at $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Webster Financial by 15.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,127 shares of the financial services provider's stock valued at $2,069,000 after purchasing an additional 5,299 shares during the period. Goldman Sachs Group Inc. raised its stake in Webster Financial by 37.0% during the first quarter. Goldman Sachs Group Inc. now owns 652,921 shares of the financial services provider's stock worth $33,658,000 after purchasing an additional 176,258 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Webster Financial by 4.4% in 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 buying an additional 20,090 shares during the period. 85.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WBS has been the subject of several analyst reports. Keefe, Bruyette & Woods lowered their price objective on Webster Financial from $79.00 to $77.50 and set an "outperform" rating for the company in a research report on Friday, May 1st. Santander downgraded Webster Financial from a "neutral" rating to an "underweight" rating in a research report on Tuesday, March 3rd. UBS Group assumed coverage on shares of Webster Financial in a research report on Tuesday, April 7th. They issued a "neutral" rating and a $69.00 target price 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. Finally, Citigroup cut Webster Financial from a "buy" rating to a "hold" rating and set a $75.00 target price for the company. in a report on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $73.96.

Webster Financial Stock Performance

NYSE:WBS opened at $72.66 on Friday. Webster Financial Corporation has a 1-year low of $48.97 and a 1-year high of $74.00. The firm has a market cap of $11.77 billion, a price-to-earnings ratio of 11.89 and a beta of 1.02. The firm's fifty day moving average price is $70.54 and its 200 day moving average price is $65.76. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.87.

Webster Financial (NYSE:WBS - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.53 by $0.04. The business had revenue of $764.05 million during the quarter, compared to analysts' expectations of $735.26 million. Webster Financial had a net margin of 22.95% and a return on equity of 11.31%. The company's revenue was up 4.4% on a year-over-year basis. During the same period last year, the company posted $1.30 EPS. On average, sell-side analysts expect that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Monday, May 11th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, May 11th. Webster Financial's payout ratio is currently 26.19%.

About Webster Financial

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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