Webster Financial Corporation $WBS Position Lessened by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. lowered its stake in shares of Webster Financial Corporation (NYSE:WBS) by 84.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,272 shares of the financial services provider’s stock after selling 52,031 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in Webster Financial were worth $551,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Root Financial Partners LLC bought a new stake in Webster Financial in the third quarter valued at $29,000. Wilmington Savings Fund Society FSB bought a new position in shares of Webster Financial during the third quarter worth about $33,000. Parkside Financial Bank & Trust increased its holdings in shares of Webster Financial by 56.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 829 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 298 shares during the period. Quent Capital LLC bought a new stake in Webster Financial in the 3rd quarter valued at about $47,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of Webster Financial by 81.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,107 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 497 shares during the period. 85.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Jefferies Financial Group set a $75.00 price objective on Webster Financial in a report on Wednesday, February 4th. TD Cowen lowered Webster Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Raymond James Financial cut Webster Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Morgan Stanley reduced their price objective on shares of Webster Financial from $77.00 to $75.00 and set an “equal weight” rating for the company in a report on Thursday, February 5th. Finally, Citigroup lowered shares of Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a research note on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Webster Financial presently has a consensus rating of “Hold” and a consensus price target of $74.50.

Webster Financial Stock Performance

Shares of NYSE WBS opened at $68.77 on Thursday. The stock’s fifty day simple moving average is $68.34 and its 200 day simple moving average is $62.90. 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 capitalization of $11.09 billion, a price-to-earnings ratio of 11.64 and a beta of 1.03. Webster Financial Corporation has a 52-week low of $39.43 and a 52-week high of $74.00.

Webster Financial (NYSE:WBS) last released its earnings results on Friday, January 23rd. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.07. Webster Financial had a return on equity of 11.10% and a net margin of 22.67%.The company had revenue of $760.48 million during the quarter, compared to analyst estimates of $731.95 million. During the same quarter in the prior year, the company earned $1.43 earnings per share. As a group, sell-side analysts forecast that Webster Financial Corporation will post 5.88 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Monday, February 9th were paid 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 is 27.07%.

Webster Financial Company 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.