Allspring Global Investments Holdings LLC Sells 649,763 Shares of Webster Financial Corporation $WBS

Allspring Global Investments Holdings LLC lessened its holdings in Webster Financial Corporation (NYSE:WBS) by 96.8% during the first quarter, HoldingsChannel reports. The firm owned 21,736 shares of the financial services provider’s stock after selling 649,763 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Webster Financial were worth $1,527,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of WBS. BOKF NA bought a new stake in shares of Webster Financial during the 3rd quarter worth $26,000. Flagship Harbor Advisors LLC acquired a new stake in Webster Financial in the fourth quarter valued at about $28,000. Caitong International Asset Management Co. Ltd bought a new position in Webster Financial in the third quarter valued at about $29,000. New England Capital Financial Advisors LLC grew its position in Webster Financial by 246.8% in the first quarter. New England Capital Financial Advisors LLC now owns 437 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 311 shares during the last quarter. Finally, Atlas Capital Advisors Inc. acquired a new position in Webster Financial during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Analyst Ratings Changes

WBS has been the topic of a number of research analyst reports. Royal Bank Of Canada raised their price target on shares of Webster Financial from $75.00 to $76.00 and gave the company a “sector perform” rating in a research note on Wednesday. Keefe, Bruyette & Woods lowered their price objective on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a research report on Friday, May 1st. UBS Group began coverage on shares of Webster Financial in a research note on Tuesday, April 7th. They issued a “neutral” rating and a $69.00 price objective for the company. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $74.04.

Webster Financial Price Performance

Webster Financial stock opened at $76.06 on Monday. The stock’s 50 day moving average is $74.60 and its 200 day moving average is $71.41. Webster Financial Corporation has a one year low of $52.69 and a one year high of $77.69. The firm has a market cap of $12.32 billion, a P/E ratio of 12.37 and a beta of 1.00. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.87 and a quick ratio of 0.87.

Webster Financial (NYSE:WBS) last released its earnings results on Tuesday, July 21st. The financial services provider reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). Webster Financial had a net margin of 22.78% and a return on equity of 11.23%. The firm had revenue of $739.99 million for the quarter, compared to analyst estimates of $755.80 million. During the same period in the prior year, the company posted $1.52 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, research analysts expect that Webster Financial Corporation will post 6.55 EPS for the current year.

Webster Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, May 11th. Webster Financial’s dividend payout ratio is currently 26.02%.

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.