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 lowered its position in shares of Webster Financial Corporation (NYSE:WBS) by 2.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 owned 0.24% of Webster Financial worth $29,446,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new position in Webster Financial in the second quarter worth $1,182,130,000. Norges Bank acquired a new position in shares of Webster Financial during the 4th quarter worth $142,035,000. Bank of Nova Scotia purchased a new position in shares of Webster Financial in the 2nd quarter valued at about $154,797,000. Alyeska Investment Group L.P. lifted its stake in shares of Webster Financial by 7,442.8% in the third quarter. Alyeska Investment Group L.P. now owns 2,032,937 shares of the financial services provider’s stock valued at $120,838,000 after purchasing an additional 2,005,985 shares during the period. Finally, Whitebox Advisors LLC acquired a new stake in shares of Webster Financial in the first quarter valued at about $133,634,000. 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. Webster Financial Corporation has a fifty-two week low of $52.69 and a fifty-two week high of $79.74. The stock has a market cap of $12.57 billion, a price-to-earnings ratio of 12.61 and a beta of 1.01. The business has a fifty day moving average of $77.22 and a 200-day moving average of $73.62. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.46.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). The company had revenue of $769.23 million for 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 was up 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.52 EPS. As a group, analysts predict that Webster Financial Corporation will post 6.59 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Monday, August 10th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Monday, August 10th. Webster Financial’s dividend payout ratio is 26.02%.

Wall Street Analyst Weigh In

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

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.