Webster Financial Co. (NYSE:WBS) Shares Sold by Citigroup Inc.

Posted by Defense World Staff on May 23rd, 2023

Citigroup Inc. cut its holdings in shares of Webster Financial Co. (NYSE:WBS – Get Rating) by 25.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 74,256 shares of the financial services provider’s stock after selling 25,662 shares during the period. Citigroup Inc.’s holdings in Webster Financial were worth $3,515,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Prudential PLC grew its position in shares of Webster Financial by 105.6% during the 4th quarter. Prudential PLC now owns 11,408 shares of the financial services provider’s stock valued at $540,000 after acquiring an additional 5,859 shares during the period. Belpointe Asset Management LLC purchased a new position in Webster Financial in the 4th quarter valued at about $96,000. UBS Group AG lifted its stake in Webster Financial by 31.9% in the 4th quarter. UBS Group AG now owns 145,517 shares of the financial services provider’s stock valued at $6,889,000 after buying an additional 35,156 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in Webster Financial by 7.7% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 34,373 shares of the financial services provider’s stock valued at $1,627,000 after buying an additional 2,444 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in Webster Financial by 5.8% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 7,854 shares of the financial services provider’s stock valued at $372,000 after buying an additional 430 shares in the last quarter. 85.86% of the stock is currently owned by institutional investors and hedge funds.

Webster Financial Stock Up 4.1 %

WBS stock opened at $37.40 on Tuesday. The firm has a market cap of $6.54 billion, a PE ratio of 7.59 and a beta of 1.25. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.95 and a current ratio of 0.96. The firm’s 50 day moving average price is $37.05 and its 200-day moving average price is $45.68. Webster Financial Co. has a one year low of $31.03 and a one year high of $56.46.

Webster Financial (NYSE:WBS – Get Rating) last released its quarterly earnings results on Thursday, April 20th. The financial services provider reported $1.49 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.07). The firm had revenue of $666.00 million for the quarter, compared to analysts’ expectations of $708.96 million. Webster Financial had a net margin of 28.33% and a return on equity of 13.39%. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.24 EPS. On average, equities research analysts anticipate that Webster Financial Co. will post 6.03 EPS for the current year.

Webster Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 22nd. Stockholders of record on Monday, May 8th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend was Friday, May 5th. Webster Financial’s payout ratio is presently 32.45%.

Analyst Ratings Changes

WBS has been the topic of a number of research reports. StockNews.com initiated coverage on shares of Webster Financial in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. UBS Group began coverage on shares of Webster Financial in a research note on Wednesday, March 15th. They issued a “buy” rating and a $56.00 price target on the stock. Keefe, Bruyette & Woods decreased their target price on shares of Webster Financial from $75.00 to $63.00 and set an “outperform” rating on the stock in a research note on Thursday, April 6th. Raymond James decreased their target price on shares of Webster Financial from $56.00 to $50.00 in a research note on Monday, April 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $55.00 target price on shares of Webster Financial in a research note on Friday, April 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $55.09.

About Webster Financial

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Webster Financial Corp. is a holding company, which engages in the provision of financial services to individuals, families, and businesses. It operates through the following business segments: Commercial Banking, HSA Bank, and Retail Banking. The Commercial Banking segment includes commercial banking and private banking.