Fisher Asset Management LLC Sells 53,729 Shares of Webster Financial Corporation $WBS

Fisher Asset Management LLC decreased its holdings in Webster Financial Corporation (NYSE:WBS) by 6.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 741,584 shares of the financial services provider’s stock after selling 53,729 shares during the quarter. Fisher Asset Management LLC owned 0.45% of Webster Financial worth $44,080,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Root Financial Partners LLC bought a new position in shares of Webster Financial in the third quarter worth about $29,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Webster Financial in the third quarter worth about $33,000. Parkside Financial Bank & Trust boosted its position in shares of Webster Financial by 56.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 829 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 298 shares during the last quarter. Quent Capital LLC bought a new position in Webster Financial during the third quarter valued at $47,000. Finally, Hantz Financial Services Inc. grew its position in Webster Financial by 50.3% in the second quarter. Hantz Financial Services Inc. now owns 899 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 301 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Down 3.6%

NYSE:WBS opened at $68.82 on Wednesday. Webster Financial Corporation has a fifty-two week low of $39.43 and a fifty-two week high of $74.00. The stock has a market capitalization of $11.10 billion, a P/E ratio of 11.64 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 0.86. The company’s 50-day simple moving average is $67.73 and its 200-day simple moving average is $62.49.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Friday, January 23rd. The financial services provider reported $1.59 EPS for the quarter, topping the consensus estimate of $1.52 by $0.07. The firm had revenue of $760.48 million during the quarter, compared to analyst estimates 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. On average, equities analysts anticipate that Webster Financial Corporation will post 5.88 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Monday, February 9th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. Webster Financial’s dividend payout ratio (DPR) is presently 27.07%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on WBS shares. JPMorgan Chase & Co. increased their price objective on shares of Webster Financial from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Keefe, Bruyette & Woods lifted their target price on Webster Financial from $77.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday. Truist Financial downgraded Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 price target on the stock. in a research report on Wednesday, February 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Webster Financial in a research note on Monday, December 29th. Finally, Santander lowered shares of Webster Financial from a “neutral” rating to an “underweight” rating in a report on Tuesday. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $74.50.

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.