Principal Financial Group Inc. Acquires 356,144 Shares of Webster Financial Corporation $WBS

Principal Financial Group Inc. grew its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 43.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,171,369 shares of the financial services provider’s stock after acquiring an additional 356,144 shares during the period. Principal Financial Group Inc. owned about 0.73% of Webster Financial worth $73,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of WBS. BOKF NA purchased a new position in Webster Financial during the third quarter valued at $26,000. Flagship Harbor Advisors LLC purchased a new stake in Webster Financial in the fourth quarter worth about $28,000. Root Financial Partners LLC bought a new position in shares of Webster Financial in the third quarter worth 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. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Webster Financial Trading Down 0.9%

WBS stock opened at $72.66 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.87. Webster Financial Corporation has a 1-year low of $48.97 and a 1-year high of $74.00. The business has a 50 day simple moving average of $70.54 and a two-hundred day simple moving average of $65.76. The company has a market capitalization of $11.77 billion, a price-to-earnings ratio of 11.89 and a beta of 1.02.

Webster Financial (NYSE:WBS) last released its earnings results on Tuesday, April 28th. The financial services provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.53 by $0.04. Webster Financial had a net margin of 22.95% and a return on equity of 11.31%. The firm had revenue of $764.05 million for the quarter, compared to the consensus estimate of $735.26 million. During the same quarter in the previous year, the firm earned $1.30 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Research analysts anticipate that Webster Financial Corporation will post 6.59 EPS 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. Shareholders of record on Monday, May 11th will be paid a $0.40 dividend. The ex-dividend date is Monday, May 11th. This represents a $1.60 annualized dividend and a yield of 2.2%. Webster Financial’s payout ratio is presently 26.19%.

Wall Street Analysts Forecast Growth

WBS has been the subject of several analyst reports. Royal Bank Of Canada lowered shares of Webster Financial from a “moderate buy” rating to a “hold” rating and set a $75.00 target price for the company. in a report on Wednesday, February 4th. 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 report on Friday, February 13th. Wells Fargo & Company raised shares of Webster Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. TD Cowen downgraded shares of Webster Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Finally, UBS Group initiated coverage on shares of Webster Financial in a report on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $73.96.

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.