Geode Capital Management LLC Has $194.51 Million Stake in Webster Financial Corporation $WBS

Geode Capital Management LLC decreased its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,089,758 shares of the financial services provider’s stock after selling 39,932 shares during the quarter. Geode Capital Management LLC owned about 1.92% of Webster Financial worth $194,507,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in WBS. BOKF NA bought a new stake in Webster Financial during the 3rd quarter valued at approximately $26,000. Flagship Harbor Advisors LLC bought a new stake in Webster Financial during the 4th quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd bought a new stake in Webster Financial during the 3rd quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB bought a new stake in Webster Financial during the 3rd quarter valued at approximately $33,000. Finally, Farther Finance Advisors LLC boosted 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 valued at $35,000 after purchasing an additional 159 shares during the period. Institutional investors own 85.58% of the company’s stock.

Webster Financial Price Performance

Shares of WBS stock opened at $72.17 on Thursday. The stock has a 50 day moving average of $71.60 and a two-hundred day moving average of $67.85. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.60. Webster Financial Corporation has a 12 month low of $50.66 and a 12 month high of $74.00. The company has a market capitalization of $11.69 billion, a P/E ratio of 11.81 and a beta of 1.00.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.04. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.The company had revenue of $764.05 million during the quarter, compared to the consensus estimate of $735.26 million. During the same quarter last year, the company earned $1.30 EPS. The company’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities analysts expect that Webster Financial Corporation will post 6.59 EPS for the current year.

Webster Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were given a $0.40 dividend. The ex-dividend date was Monday, May 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. Webster Financial’s dividend payout ratio (DPR) is currently 26.19%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Truist Financial downgraded Webster Financial from a “buy” rating to a “hold” rating and set a $74.00 target price for the company. in a research note on Wednesday, February 4th. Morgan Stanley decreased their target price on Webster Financial from $77.00 to $75.00 and set an “equal weight” rating for the company in a research note on Thursday, February 5th. Wells Fargo & Company upgraded Webster Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Santander downgraded Webster Financial from a “neutral” rating to an “underweight” rating in a research note on Tuesday, March 3rd. Finally, Citigroup downgraded Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research note on Friday, February 13th. Four research 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $73.96.

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.