Allspring Global Investments Holdings LLC Sells 423,134 Shares of Webster Financial Corporation $WBS

Allspring Global Investments Holdings LLC cut its position in shares of Webster Financial Corporation (NYSE:WBS) by 38.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 671,499 shares of the financial services provider’s stock after selling 423,134 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.42% of Webster Financial worth $42,855,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WBS. BOKF NA bought a new stake in Webster Financial in the 3rd quarter valued at approximately $26,000. Root Financial Partners LLC bought a new position in shares of Webster Financial during the 3rd quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Webster Financial in the third quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Webster Financial in the third quarter valued at approximately $33,000. Finally, Quent Capital LLC bought a new stake in shares of Webster Financial in the third quarter worth $47,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Wall Street Analyst Weigh In

WBS has been the topic of several recent research reports. Wells Fargo & Company upgraded shares of Webster Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Santander downgraded shares of Webster Financial from a “neutral” rating to an “underweight” rating in a research note on Tuesday, March 3rd. Morgan Stanley decreased their price objective 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. Truist Financial downgraded Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 target price on the stock. in a research report on Wednesday, February 4th. Finally, Raymond James Financial lowered Webster Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 11th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $74.50.

Webster Financial Price Performance

NYSE:WBS opened at $70.21 on Thursday. Webster Financial Corporation has a 12-month low of $39.43 and a 12-month high of $74.00. The firm has a market capitalization of $11.32 billion, a price-to-earnings ratio of 11.88 and a beta of 1.03. The stock’s 50 day moving average price is $69.61 and its two-hundred day moving average price is $63.59. 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 earnings results 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 company 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 in the previous year, the company posted $1.43 EPS. On average, analysts anticipate that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Monday, February 9th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, February 9th. Webster Financial’s payout ratio 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.