JPMorgan Chase & Co. Buys 80,038 Shares of Webster Financial Corporation $WBS

JPMorgan Chase & Co. raised its stake in Webster Financial Corporation (NYSE:WBS) by 18.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 519,265 shares of the financial services provider’s stock after acquiring an additional 80,038 shares during the quarter. JPMorgan Chase & Co. owned about 0.32% of Webster Financial worth $30,865,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of WBS. BOKF NA acquired a new stake in shares of Webster Financial in the third quarter valued at approximately $26,000. Root Financial Partners LLC bought a new position in Webster Financial in the 3rd quarter valued at $29,000. Caitong International Asset Management Co. Ltd bought a new position in Webster Financial in the 3rd quarter valued at $29,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Webster Financial in the 3rd quarter valued at $33,000. Finally, Quent Capital LLC acquired a new stake in shares of Webster Financial in the 3rd quarter valued at $47,000. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on WBS. Morgan Stanley lowered their price objective on Webster Financial from $77.00 to $75.00 and set an “equal weight” rating for the company in a research report on Thursday, February 5th. Citigroup lowered shares of Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research note on Friday, February 13th. Raymond James Financial cut shares of Webster Financial from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Truist Financial downgraded shares of Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 price target for the company. in a research note on Wednesday, February 4th. Finally, UBS Group lowered shares of Webster Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $77.00 to $75.00 in a report on Thursday, February 5th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $74.50.

Webster Financial Price Performance

Webster Financial stock opened at $67.77 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $10.93 billion, a P/E ratio of 11.47 and a beta of 1.03. The business has a 50-day moving average of $68.82 and a 200-day moving average of $63.20. Webster Financial Corporation has a 1 year low of $39.43 and a 1 year high of $74.00.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Friday, January 23rd. The financial services provider reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.07. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. The business had revenue of $760.48 million for the quarter, compared to the consensus estimate of $731.95 million. During the same period last year, the company posted $1.43 EPS. On average, equities analysts anticipate that Webster Financial Corporation will post 5.88 EPS for the current year.

Webster Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Monday, February 9th were issued a $0.40 dividend. The ex-dividend date was Monday, February 9th. This represents a $1.60 annualized dividend and a yield of 2.4%. Webster Financial’s dividend payout ratio (DPR) is 27.07%.

Webster Financial Profile

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.