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

Mitsubishi UFJ Asset Management UK Ltd. reduced its position in shares of Webster Financial Corporation (NYSE:WBS) by 50.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor 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 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Grove Bank & Trust increased its stake in Webster Financial by 18.7% during the 4th quarter. Grove Bank & Trust now owns 1,005 shares of the financial services provider’s stock worth $63,000 after buying an additional 158 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Webster Financial by 39.7% during the 4th quarter. Farther Finance Advisors LLC now owns 560 shares of the financial services provider’s stock worth $35,000 after buying an additional 159 shares in the last quarter. Curi Capital LLC increased its stake in Webster Financial by 0.3% during the 2nd quarter. Curi Capital LLC now owns 68,500 shares of the financial services provider’s stock worth $3,740,000 after buying an additional 182 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in Webster Financial by 27.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 839 shares of the financial services provider’s stock worth $50,000 after buying an additional 183 shares in the last quarter. Finally, Merit Financial Group LLC increased its stake in Webster Financial by 2.5% during the 4th quarter. Merit Financial Group LLC now owns 8,160 shares of the financial services provider’s stock worth $514,000 after buying an additional 199 shares in the last quarter. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on WBS shares. UBS Group started 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. Wells Fargo & Company upgraded Webster Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Santander lowered Webster Financial from a “neutral” rating to an “underweight” rating in a research note on Tuesday, March 3rd. 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. Finally, Raymond James Financial cut 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $73.96.

Webster Financial Trading Down 0.0%

Shares of Webster Financial stock opened at $71.68 on Wednesday. The stock has a market cap of $11.61 billion, a P/E ratio of 11.73 and a beta of 1.02. The stock’s 50 day simple moving average is $70.70 and its 200-day simple moving average is $66.65. Webster Financial Corporation has a 1-year low of $49.81 and a 1-year high of $74.00. 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 (NYSE:WBS) last issued its earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.04. The business had revenue of $764.05 million for the quarter, compared to analysts’ expectations of $735.26 million. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.30 EPS. Analysts predict that Webster Financial Corporation will post 6.59 EPS for the current fiscal year.

Webster Financial Dividend Announcement

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

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.