Fisher Asset Management LLC Sells 24,160 Shares of Webster Financial Corporation $WBS

Fisher Asset Management LLC decreased its position in shares of Webster Financial Corporation (NYSE:WBS) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 717,424 shares of the financial services provider’s stock after selling 24,160 shares during the quarter. Fisher Asset Management LLC’s holdings in Webster Financial were worth $45,155,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in WBS. Royal Bank of Canada lifted its stake in Webster Financial by 2.2% in 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 period. Cubist Systematic Strategies LLC purchased a new stake in Webster Financial in the first quarter worth about $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in 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 worth $2,069,000 after acquiring an additional 5,299 shares during the period. Goldman Sachs Group Inc. lifted its stake in Webster Financial by 37.0% in the first quarter. Goldman Sachs Group Inc. now owns 652,921 shares of the financial services provider’s stock worth $33,658,000 after acquiring an additional 176,258 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Webster Financial by 4.4% in the first 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 worth $24,543,000 after acquiring an additional 20,090 shares during the period. 85.58% of the stock is owned by hedge funds and other institutional investors.

Webster Financial Stock Performance

Shares of WBS stock opened at $72.78 on Wednesday. The business’s fifty day simple moving average is $71.11 and its 200-day simple moving average is $67.19. The company has a market cap of $11.79 billion, a PE ratio of 11.91 and a beta of 1.02. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.60. Webster Financial Corporation has a 12-month low of $50.24 and a 12-month high of $74.00.

Webster Financial (NYSE:WBS) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.04. The business had revenue of $764.05 million for the quarter, compared to the consensus estimate of $735.26 million. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.30 earnings per share. Analysts expect that Webster Financial Corporation will post 6.59 earnings per share for the current fiscal year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. Webster Financial’s dividend payout ratio is presently 26.19%.

Analyst Ratings Changes

A number of brokerages recently commented on WBS. Royal Bank Of Canada downgraded shares of Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a research note on Wednesday, February 4th. Wells Fargo & Company upgraded Webster Financial from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Truist Financial lowered Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 target price for the company. in a report on Wednesday, February 4th. Stephens restated an “equal weight” rating and set a $73.00 target price on shares of Webster Financial in a report on Wednesday, February 4th. Finally, Barclays set a $75.00 target price on Webster Financial in a report on Wednesday, February 4th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $73.96.

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.