Pacer Advisors Inc. trimmed its position in Webster Financial Corporation (NYSE:WBS – Free Report) by 37.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 18,944 shares of the financial services provider’s stock after selling 11,105 shares during the period. Pacer Advisors Inc.’s holdings in Webster Financial were worth $1,192,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of WBS. Alyeska Investment Group L.P. increased its holdings in Webster Financial by 7,442.8% in the 3rd 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 buying an additional 2,005,985 shares during the period. 140 Summer Partners LP acquired a new stake in shares of Webster Financial during the 3rd quarter valued at about $75,465,000. AQR Capital Management LLC increased its stake in Webster Financial by 221.0% in the second quarter. AQR Capital Management LLC now owns 1,565,623 shares of the financial services provider’s stock valued at $85,483,000 after acquiring an additional 1,077,819 shares during the period. Artemis Investment Management LLP bought a new stake in Webster Financial in the fourth quarter valued at about $56,253,000. Finally, Bank of Montreal Can raised its position in Webster Financial by 65.2% in the third quarter. Bank of Montreal Can now owns 2,070,013 shares of the financial services provider’s stock worth $123,042,000 after purchasing an additional 817,218 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.
Webster Financial Trading Down 0.1%
WBS opened at $71.63 on Friday. Webster Financial Corporation has a 1-year low of $49.81 and a 1-year high of $74.00. The stock has a market capitalization of $11.61 billion, a PE ratio of 11.72 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. The firm has a 50-day moving average price of $70.56 and a two-hundred day moving average price of $66.33.
Webster Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Monday, May 11th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, May 11th. Webster Financial’s dividend payout ratio (DPR) is 26.19%.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the stock. Citigroup cut 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 note on Friday, February 13th. Royal Bank Of Canada downgraded Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research report on Wednesday, February 4th. Jefferies Financial Group set a $75.00 price target on Webster Financial in a research note on Wednesday, February 4th. Raymond James Financial cut Webster Financial from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Finally, TD Cowen lowered Webster Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $73.96.
View Our Latest Research Report on Webster Financial
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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