Webster Financial Corporation $WBS Shares Sold by Citigroup Inc.

Citigroup Inc. cut its position in Webster Financial Corporation (NYSE:WBS) by 23.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,179 shares of the financial services provider’s stock after selling 43,376 shares during the period. Citigroup Inc. owned 0.08% of Webster Financial worth $8,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its stake in Webster Financial by 4.9% during the 2nd quarter. Invesco Ltd. now owns 5,296,071 shares of the financial services provider’s stock worth $289,165,000 after purchasing an additional 246,774 shares during the last quarter. American Century Companies Inc. raised its position in shares of Webster Financial by 14.5% in the second quarter. American Century Companies Inc. now owns 3,453,778 shares of the financial services provider’s stock valued at $188,576,000 after buying an additional 438,131 shares during the last quarter. Norges Bank purchased a new position in shares of Webster Financial in the second quarter worth about $131,780,000. Azora Capital LP boosted its position in Webster Financial by 30.5% during the second quarter. Azora Capital LP now owns 1,886,385 shares of the financial services provider’s stock worth $102,997,000 after acquiring an additional 440,347 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its position in Webster Financial by 2.5% during the third quarter. Pzena Investment Management LLC now owns 1,652,636 shares of the financial services provider’s stock worth $98,233,000 after acquiring an additional 39,878 shares during the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WBS has been the topic of a number of research reports. Stephens reissued an “equal weight” rating and issued a $73.00 target price on shares of Webster Financial in a research note on Wednesday, February 4th. Truist Financial downgraded Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 price objective on the stock. in a research report on Wednesday, February 4th. Morgan Stanley dropped their target price on Webster Financial from $77.00 to $75.00 and set an “equal weight” rating for the company in a report on Thursday, February 5th. Raymond James Financial downgraded Webster Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $70.00 price target on shares of Webster Financial in a report on Friday, February 6th. Four research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, Webster Financial has an average rating of “Hold” and a consensus target price of $74.36.

Webster Financial Price Performance

NYSE:WBS opened at $72.00 on Monday. Webster Financial Corporation has a 52 week low of $39.43 and a 52 week high of $74.00. The stock’s fifty day moving average is $67.51 and its two-hundred day moving average is $62.32. The company has a market capitalization of $11.61 billion, a P/E ratio of 12.18 and a beta of 1.03. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40.

Webster Financial (NYSE:WBS) last issued its quarterly earnings data on Friday, January 23rd. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.07. The firm had revenue of $760.48 million during the quarter, compared to the consensus estimate of $731.95 million. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.During the same period last year, the company earned $1.43 EPS. Equities analysts expect 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. Investors of record on Monday, February 9th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.60 annualized dividend and a yield of 2.2%. Webster Financial’s dividend payout ratio is presently 27.07%.

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.