Norges Bank Buys New Holdings in Webster Financial Corporation $WBS

Norges Bank bought a new stake in shares of Webster Financial Corporation (NYSE:WBSFree Report) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 2,256,666 shares of the financial services provider’s stock, valued at approximately $142,035,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. raised its stake in Webster Financial by 6.0% during the 4th quarter. Hillsdale Investment Management Inc. now owns 61,600 shares of the financial services provider’s stock valued at $3,877,000 after purchasing an additional 3,500 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Webster Financial by 6.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,409 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 214 shares during the period. Houlihan Financial Resource Group Ltd. bought a new stake in Webster Financial during the 4th quarter valued at approximately $980,000. King Luther Capital Management Corp raised its stake in Webster Financial by 9.0% during the 4th quarter. King Luther Capital Management Corp now owns 107,775 shares of the financial services provider’s stock valued at $6,783,000 after purchasing an additional 8,876 shares during the period. Finally, Clearstead Advisors LLC raised its stake in Webster Financial by 122.5% during the 4th quarter. Clearstead Advisors LLC now owns 652 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 359 shares during the period. Institutional investors own 85.58% of the company’s stock.

Webster Financial Price Performance

Shares of Webster Financial stock opened at $72.17 on Thursday. Webster Financial Corporation has a 12 month low of $50.66 and a 12 month high of $74.00. 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 stock has a 50 day moving average of $71.60 and a 200 day moving average of $67.85. The firm has a market cap of $11.69 billion, a PE ratio of 11.81 and a beta of 1.00.

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

Webster Financial Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on WBS shares. Santander downgraded Webster Financial from a “neutral” rating to an “underweight” rating in a research note on Tuesday, March 3rd. Morgan Stanley decreased their target price on Webster Financial from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 5th. Stephens reissued an “equal weight” rating and set a $73.00 price target on shares of Webster Financial in a research note on Wednesday, February 4th. Citigroup lowered 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. Finally, Keefe, Bruyette & Woods dropped their price target on Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research note on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $73.96.

Check Out Our Latest Research Report on Webster Financial

Webster Financial Profile

(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.

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Institutional Ownership by Quarter for Webster Financial (NYSE:WBS)

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