Fisher Asset Management LLC Reduces Holdings in Webster Financial Corporation $WBS

Fisher Asset Management LLC reduced its stake in Webster Financial Corporation (NYSE:WBS) by 6.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 741,584 shares of the financial services provider’s stock after selling 53,729 shares during the period. Fisher Asset Management LLC’s holdings in Webster Financial were worth $44,080,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of WBS. 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 valued at $3,740,000 after purchasing an additional 182 shares in the last quarter. Journey Strategic Wealth LLC grew its holdings in shares of Webster Financial by 3.2% during the second quarter. Journey Strategic Wealth LLC now owns 6,747 shares of the financial services provider’s stock valued at $368,000 after buying an additional 210 shares during the last quarter. Wedmont Private Capital increased its position in shares of Webster Financial by 2.9% in the 3rd quarter. Wedmont Private Capital now owns 7,548 shares of the financial services provider’s stock valued at $454,000 after acquiring an additional 215 shares during the period. F m Investments LLC raised its stake in Webster Financial by 2.8% in the 2nd quarter. F m Investments LLC now owns 8,243 shares of the financial services provider’s stock worth $450,000 after acquiring an additional 222 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in Webster Financial by 24.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,322 shares of the financial services provider’s stock worth $79,000 after acquiring an additional 256 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Webster Financial Stock Performance

WBS opened at $68.82 on Wednesday. The firm has a fifty day moving average price of $67.73 and a 200 day moving average price of $62.49. Webster Financial Corporation has a 1 year low of $39.43 and a 1 year high of $74.00. The stock has a market cap of $11.10 billion, a P/E ratio of 11.64 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Friday, January 23rd. The financial services provider reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.07. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. The company had revenue of $760.48 million during the quarter, compared to analysts’ expectations of $731.95 million. During the same quarter in the previous year, the company earned $1.43 earnings per share. Equities research analysts anticipate that Webster Financial Corporation will post 5.88 earnings per share for the current year.

Webster Financial Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Monday, February 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. Webster Financial’s dividend payout ratio is currently 27.07%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on WBS shares. Santander lowered Webster Financial from a “neutral” rating to an “underweight” rating in a report on Tuesday. Raymond James Financial downgraded shares of Webster Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, February 11th. Morgan Stanley reduced their price target on shares of Webster Financial from $77.00 to $75.00 and set an “equal weight” rating for the company in a research report on Thursday, February 5th. Stephens reaffirmed an “equal weight” rating and issued a $73.00 price objective on shares of Webster Financial in a report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Webster Financial from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Webster Financial currently has a consensus rating of “Hold” and a consensus price target of $74.50.

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.