New York Life Investment Management LLC Trims Stock Holdings in Webster Financial Corporation $WBS

New York Life Investment Management LLC cut its position in Webster Financial Corporation (NYSE:WBS) by 56.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,489 shares of the financial services provider’s stock after selling 9,803 shares during the period. New York Life Investment Management LLC’s holdings in Webster Financial were worth $471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Y Intercept Hong Kong Ltd purchased a new position in Webster Financial during the third quarter valued at $578,000. Pinnbrook Capital Management LP purchased a new position in Webster Financial during the third quarter valued at $2,254,000. Dynamic Technology Lab Private Ltd grew its stake in Webster Financial by 115.3% during the third quarter. Dynamic Technology Lab Private Ltd now owns 32,940 shares of the financial services provider’s stock valued at $1,958,000 after acquiring an additional 17,640 shares in the last quarter. Polar Asset Management Partners Inc. grew its stake in Webster Financial by 186.3% during the third quarter. Polar Asset Management Partners Inc. now owns 53,817 shares of the financial services provider’s stock valued at $3,199,000 after acquiring an additional 35,017 shares in the last quarter. Finally, Holocene Advisors LP purchased a new position in Webster Financial during the third quarter valued at $44,254,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. UBS Group assumed coverage on Webster Financial in a report on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 target price for the company. Santander cut Webster Financial from a “neutral” rating to an “underweight” rating in a report on Tuesday, March 3rd. Keefe, Bruyette & Woods dropped their target price on Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a report on Friday, May 1st. Barclays set a $75.00 target price on Webster Financial in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada cut 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. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $73.96.

Webster Financial Stock Performance

Webster Financial stock opened at $73.07 on Thursday. The company’s 50-day moving average is $70.79 and its 200 day moving average is $66.76. 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. The firm has a market capitalization of $11.84 billion, a P/E ratio of 11.96 and a beta of 1.02.

Webster Financial (NYSE:WBS) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.04. The company had revenue of $764.05 million during 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%.Webster Financial’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.30 EPS. Research analysts forecast that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Monday, May 11th will be issued a $0.40 dividend. 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 dividend payout ratio is currently 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.