Mitsubishi UFJ Asset Management UK Ltd. Trims Stock Holdings in Webster Financial Corporation $WBS

Mitsubishi UFJ Asset Management UK Ltd. decreased its position in Webster Financial Corporation (NYSE:WBS) by 50.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,000 shares of the financial services provider’s stock after selling 9,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Webster Financial were worth $566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WBS. BOKF NA purchased a new position in Webster Financial in the 3rd quarter worth $26,000. Flagship Harbor Advisors LLC purchased a new position in Webster Financial in the 4th quarter worth $28,000. Root Financial Partners LLC purchased a new position in shares of Webster Financial during the 3rd quarter valued at about $29,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Webster Financial during the 3rd quarter valued at about $29,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Webster Financial during the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WBS. UBS Group began coverage on Webster Financial in a research note on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price objective for the company. Stephens reiterated an “equal weight” rating and set a $73.00 price objective on shares of Webster Financial in a research note on Wednesday, February 4th. Jefferies Financial Group set a $75.00 price objective on Webster Financial in a research note on Wednesday, February 4th. Santander lowered Webster Financial from a “neutral” rating to an “underweight” rating in a research note on Tuesday, March 3rd. Finally, Citigroup lowered Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 price objective 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 assigned a Sell rating to the stock. According to data from MarketBeat, Webster Financial presently has a consensus rating of “Hold” and an average price target of $73.96.

Webster Financial Price Performance

Shares of Webster Financial stock opened at $71.68 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. Webster Financial Corporation has a twelve month low of $49.81 and a twelve month high of $74.00. The business has a 50-day moving average price of $70.70 and a 200 day moving average price of $66.65. The firm has a market cap of $11.61 billion, a PE ratio of 11.73 and a beta of 1.02.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.04. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.The firm had revenue of $764.05 million during the quarter, compared to analyst estimates of $735.26 million. During the same quarter in the previous year, the business earned $1.30 EPS. Webster Financial’s revenue for the quarter was up 4.4% compared to the same quarter last year. Sell-side analysts predict that Webster Financial Corporation will post 6.59 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Monday, May 11th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Monday, May 11th. Webster Financial’s payout ratio is presently 26.19%.

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.