UBS Asset Management Americas Inc. Decreases Holdings in Webster Financial Co. (WBS)
UBS Asset Management Americas Inc. reduced its holdings in shares of Webster Financial Co. (NYSE:WBS) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 334,465 shares of the financial services provider’s stock after selling 7,146 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Webster Financial were worth $18,784,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new stake in Webster Financial during the third quarter worth approximately $202,000. Fox Run Management L.L.C. purchased a new position in shares of Webster Financial in the fourth quarter valued at $264,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Webster Financial by 39.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,788 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 1,353 shares during the period. SeaCrest Wealth Management LLC purchased a new position in shares of Webster Financial in the fourth quarter valued at $271,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of Webster Financial in the fourth quarter valued at $303,000. Institutional investors own 96.15% of the company’s stock.
In other Webster Financial news, EVP Daniel Bley sold 2,917 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $58.27, for a total transaction of $169,973.59. Following the transaction, the executive vice president now directly owns 19,804 shares in the company, valued at approximately $1,153,979.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Pettie sold 3,291 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $56.34, for a total transaction of $185,414.94. Following the transaction, the director now owns 16,405 shares in the company, valued at $924,257.70. The disclosure for this sale can be found here. Insiders have sold a total of 11,272 shares of company stock worth $629,959 over the last quarter. 2.20% of the stock is currently owned by insiders.
Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.06. Webster Financial had a net margin of 21.77% and a return on equity of 9.91%. The firm had revenue of $270.97 million for the quarter, compared to the consensus estimate of $269.64 million. During the same period in the prior year, the firm posted $0.60 EPS. The firm’s revenue was up 5.9% compared to the same quarter last year. equities research analysts predict that Webster Financial Co. will post 3.37 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, February 12th. This represents a $1.04 dividend on an annualized basis and a yield of 1.89%. Webster Financial’s dividend payout ratio (DPR) is 39.10%.
Several brokerages have recently weighed in on WBS. JPMorgan Chase & Co. upped their target price on shares of Webster Financial from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Boenning Scattergood restated a “hold” rating on shares of Webster Financial in a research note on Wednesday, January 24th. Sandler O’Neill restated a “hold” rating and issued a $60.00 target price on shares of Webster Financial in a research note on Tuesday, January 23rd. Piper Jaffray Companies restated a “hold” rating and issued a $56.00 target price on shares of Webster Financial in a research note on Tuesday, January 23rd. Finally, Morgan Stanley upped their target price on shares of Webster Financial from $54.00 to $56.00 and gave the company an “underweight” rating in a research note on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Webster Financial has an average rating of “Hold” and an average price target of $59.82.
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Webster Financial Profile
Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.
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