Horizon Investments LLC raised its position in Webster Financial Corporation (NYSE:WBS - Free Report) by 25.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 75,726 shares of the financial services provider's stock after buying an additional 15,294 shares during the quarter. Horizon Investments LLC's holdings in Webster Financial were worth $4,766,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the company. BOKF NA purchased a new stake in shares of Webster Financial during the 3rd quarter worth $26,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Webster Financial during the 4th quarter worth $28,000. Root Financial Partners LLC purchased a new stake in shares of Webster Financial during the 3rd quarter worth $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Webster Financial during the 3rd quarter worth $29,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Webster Financial during the 3rd quarter worth $33,000. 85.58% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of Webster Financial from $77.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 5th. Royal Bank Of Canada lowered shares of Webster Financial from a "moderate buy" rating to a "hold" rating and set a $75.00 target price on the stock. in a research report on Wednesday, February 4th. TD Cowen lowered shares of Webster Financial from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 4th. Raymond James Financial lowered shares of Webster Financial from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, February 11th. Finally, Truist Financial lowered shares of Webster Financial from a "buy" rating to a "hold" rating and set a $74.00 price objective on the stock. in a research report on Wednesday, February 4th. Four equities research 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. Based on data from MarketBeat, Webster Financial has a consensus rating of "Hold" and an average target price of $73.96.
View Our Latest Report on WBS
Webster Financial Price Performance
Webster Financial stock opened at $72.23 on Monday. Webster Financial Corporation has a 52 week low of $48.37 and a 52 week high of $74.00. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. The firm's 50-day simple moving average is $70.54 and its 200 day simple moving average is $65.40. The firm has a market capitalization of $11.70 billion, a PE ratio of 11.82 and a beta of 1.02.
Webster Financial (NYSE:WBS - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.53 by $0.04. The business had revenue of $764.05 million for the quarter, compared to analyst estimates of $735.26 million. Webster Financial had a net margin of 22.95% and a return on equity of 11.31%. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.30 EPS. On average, equities research analysts predict that Webster Financial Corporation will post 6.59 EPS for the current fiscal year.
Webster Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Monday, May 11th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, May 11th. Webster Financial's dividend payout ratio is 26.19%.
Webster Financial Company Profile
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Free Report)
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.
See Also
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