Webster Financial (NYSE:WBS) Cut to “Hold” at Citigroup

Citigroup downgraded shares of Webster Financial (NYSE:WBS) from a buy rating to a hold rating in a research report report published on Friday morning, Marketbeat.com reports. The brokerage currently has $75.00 target price on the financial services provider’s stock.

A number of other brokerages have also recently weighed in on WBS. Truist Financial cut shares of Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 price objective on the stock. in a report on Wednesday, February 4th. Royal Bank Of Canada downgraded Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research note on Wednesday, February 4th. Santander lowered Webster Financial to a “hold” rating in a research report on Wednesday, February 4th. Wells Fargo & Company reissued an “equal weight” rating and issued a $70.00 target price on shares of Webster Financial in a report on Friday, February 6th. Finally, JPMorgan Chase & Co. increased their target price on Webster Financial from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Four research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $74.36.

Webster Financial Price Performance

Shares of WBS stock opened at $71.13 on Friday. The business’s fifty day moving average is $65.77 and its 200 day moving average is $61.20. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40. The stock has a market cap of $11.47 billion, a price-to-earnings ratio of 12.04 and a beta of 1.07. Webster Financial has a twelve month low of $39.43 and a twelve month high of $73.87.

Webster Financial (NYSE:WBS) last announced its earnings results on Friday, January 23rd. The financial services provider reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.07. The firm had revenue of $760.48 million for the quarter, compared to analysts’ expectations of $731.95 million. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. During the same quarter in the previous year, the business posted $1.43 EPS. Research analysts expect that Webster Financial will post 5.88 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Monday, February 9th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, February 9th. Webster Financial’s dividend payout ratio is presently 27.07%.

Institutional Trading of Webster Financial

Institutional investors have recently made changes to their positions in the stock. FORA Capital LLC purchased a new position in shares of Webster Financial during the fourth quarter valued at approximately $551,000. Kestra Advisory Services LLC grew its position in Webster Financial by 2.9% in the 4th quarter. Kestra Advisory Services LLC now owns 6,533 shares of the financial services provider’s stock worth $411,000 after purchasing an additional 187 shares during the period. Inspire Advisors LLC purchased a new stake in Webster Financial during the 4th quarter valued at $261,000. Bridgewater Associates LP lifted its holdings in shares of Webster Financial by 40.9% during the 4th quarter. Bridgewater Associates LP now owns 754,071 shares of the financial services provider’s stock valued at $47,461,000 after buying an additional 218,723 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Webster Financial by 8.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,844 shares of the financial services provider’s stock worth $244,000 after buying an additional 305 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

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.